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Property profile & analytics
OFF-MARKET
Estimated value
$40,855,000
Industrial properties
5565 Broadmoor SE Ave, Kentwood, MI 49512-5302
Entity Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US43-3769285
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1982
Total area
874,605 SF
Lot
87.68 ac (3,819,210 SF)
Zoning code
I-PUD
APN
41-18-36-400-021
UPID
US43-3769285
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$40.86M
Blend (final)
Blend
$40.86M
Owner & transaction history
Michigan Department Of Transportati · 1 yrs held
Michigan Department Of Transportati
since 2024
Last sale
$1,000
7 recorded transactions
Zoning & alternative use
I-PUD · Kentwood, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$67.0M
+66.4%
Auto repair, garage
$54.2M
+34.5%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Kentwood submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Kentwood submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$40,295,000
Current use
OFFICE BUILDING
$67,045,000
Change: +66% · Conversion: Difficult
AUTO REPAIR, GARAGE
$54,180,000
Change: +34% · Conversion: Easy
Blend value · Realmo final
$40.86M
Range $36.77M – $44.94M · ±10% · vs last sale $1k (Oct 2 2024)
Last sale anchor
$1k
Oct 2 2024
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$47 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2019Property tax & assessments
Tax year 2019
Tax billed
$572,533
Tax year 2019
Assessed value
$21,646,900
Assessed 2024
Previous assessed
$21,646,900
+0.0% YoY
Effective rate
2.64%
On assessed value
Total market value
$43,293,800
Applied tax rate
65.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
1982
Heating
FORCED AIR
Buildings
2
Stories
1
Total area
874,605 SF
Lot
87.68 ac (3,819,210 SF)
Zoning code
I-PUD
APN
41-18-36-400-021
UPID
US43-3769285
Jurisdiction
KENT
Zoning & alternative use
I-PUD · Kentwood, MI
Zoning I-PUD · permitted uses
I-PUD · Kentwood, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Kentwood. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$40.3M
OFFICE BUILDING
Est. value
$67.0M
AUTO REPAIR, GARAGE
Est. value
$54.2M
INDUSTRIAL (GENERAL) Current
OFFICE BUILDING
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1982
Heating
FORCED AIR
Stories
1
Buildings
2
Lot
87.68 ac
Current owner
From public records · entity-resolved
Michigan Department Of Transportati
Entity
Free & Clear · 1 yrs held
Mailing address
425 W OTTAWA ST SE, LANSING, MI 48933-1532
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 2, 2024
$1,000
Michigan Department Of Transportati
Broadstone Rbc Portfolio LLC
Deed
—
Oct 17, 2022
—
Roskam Baking Company LLC
Broadstone Rbc Portfolio LLC
Lease
—
Nov 2, 2017
—
5565 Holdings LLC
Franklin 5565 Broadmoor LLC
Quit Claim Deed
—
Aug 19, 2014
—
Franklin Broadmoor & Patterson
Franklin 5565 Broadmoor LLC
Quit Claim Deed
related
—
May 30, 2014
—
Franklin 5565 Broadmoor LLC
Steelcase INC
Grant Deed
related
—
—
—
Franklin 5565 Broadmoor LLC
—
Deed Of Trust
related
$18,000,000 · Miscellaneous Ins Co
—
—
Franklin 5565 Broadmoor LLC
—
Deed Of Trust
related
$18,000,000 · Miscellaneous Ins Co
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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