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Property profile & analytics
OFF-MARKET
Estimated value
$1,715,000
Industrial properties
632 Plymouth NE Ave, Grand Rapids, MI 49505-6032
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US43-1645159
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
2000
Total area
32,100 SF
Lot
1.93 ac (83,984 SF)
Zoning code
SD-IT
APN
41-14-21-327-014
UPID
US43-1645159
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
Current use
Occupant on record · Public records
-
MEL Wholesale Big Box & Wholesale Store
-
Mister-E's Vape Shop (Bike/Boat/Book/etc) Store Alternative Medicine Practice
-
Dash Delivery Trucking Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.71M
Blend (final)
Blend
$1.72M
Owner & transaction history
Pv 632 Plymouth LLC · 5 yrs held
Pv 632 Plymouth LLC
since 2021
6 recorded transactions
Zoning & alternative use
SD-IT · Grand Rapids, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$2.6M
+77.9%
Retail stores
$2.6M
+76.4%
Office building
$2.5M
+66.4%
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 Grand Rapids submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Grand Rapids 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)
$1,480,000
Current use
COMMERCIAL (GENERAL)
$2,630,000
Change: +78% · Conversion: Difficult
RETAIL STORES
$2,610,000
Change: +76% · Conversion: Moderate
OFFICE BUILDING
$2,460,000
Change: +66% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,990,000
Change: +34% · Conversion: Easy
Blend value · Realmo final
$1.72M
Range $1.54M – $1.89M · ±10%
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
$53 / 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 2021Property tax & assessments
Tax year 2021
Tax billed
$28,349
Tax year 2021
Assessed value
$907,700
Assessed 2023
Previous assessed
$758,900
+19.6% YoY
Effective rate
3.12%
On assessed value
Total market value
$1,815,400
Applied tax rate
51.0000
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
2000
Heating
FORCED AIR
Buildings
2
Stories
1
Total area
32,100 SF
Lot
1.93 ac (83,984 SF)
Zoning code
SD-IT
APN
41-14-21-327-014
UPID
US43-1645159
Jurisdiction
KENT
Zoning & alternative use
SD-IT · Grand Rapids, MI
Zoning SD-IT · permitted uses
SD-IT · Grand Rapids, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Grand Rapids. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$1.5M
COMMERCIAL (GENERAL)
Est. value
$2.6M
RETAIL STORES
Est. value
$2.6M
OFFICE BUILDING
Est. value
$2.5M
AUTO REPAIR, GARAGE
Est. value
$2.0M
INDUSTRIAL (GENERAL) Current
COMMERCIAL (GENERAL)
RETAIL STORES
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
2000
Heating
FORCED AIR
Stories
1
Buildings
2
Lot
1.93 ac
Current owner
From public records · entity-resolved
Pv 632 Plymouth LLC
Entity
Mailing address
1060 HALL ST SW, GRAND RAPIDS, MI 49503-4864
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 2, 2021
—
Pv 632 Plymuth LLC
—
Deed
related
$840,000 · Mercantile Bank Of Michigan
Jan 13, 2021
—
Pv 632 Plymouth LLC
Leo Schlesinger Holdings LLC
Warranty Deed
—
Aug 17, 2017
—
Leo Schlesinger Holdings LLC
Ice Men LLC
Warranty Deed
$927,010 · United Bk/mi
—
—
Ice Men LLC
—
Deed Of Trust
related
$400,000 · Ameribank
—
—
I C E Men LLC
—
Deed Of Trust
related
$120,000 · Fifth Third Bank Indiana
—
—
Ice Men LLC
—
Deed Of Trust
related
$500,000 · Comerica Bank
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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