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Property profile & analytics
OFF-MARKET
Estimated value
$660,000
Retail space
6680 Kalamazoo SE Ave Grand Rapids, MI 49508-7026
Entity Owned
26-yr Hold
Absentee Owner
Free & Clear
Property ID
US43-1417223
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2005
Total area
5,600 SF
Lot
1.32 ac (57,369 SF)
Zoning code
C1-NBHD COMM
APN
41-22-04-351-005
UPID
US43-1417223
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
-
Veldt Family Agency Travel Agency
-
AT&T Store Mobile Phone Store Electronics & Wireless Store
-
Bussa Family Agency Insurance Agency
-
The Tobacco Shoppe (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$659k
Blend (final)
Blend
$660k
Owner & transaction history
P & L Co LLC · 26 yrs held
P & L Co LLC
since 2000
2 recorded transactions
Zoning & alternative use
C1-NBHD COMM · Grand Rapids, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$500,000
+9.5%
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 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
RETAIL STORES
$455,000
Current use
COMMERCIAL (GENERAL)
$500,000
Change: +9% · Conversion: Easy
OFFICE BUILDING
$430,000
Change: -6% · Conversion: Easy
Blend value · Realmo final
$660k
Range $594k – $726k · ±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
$118 / 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
Assessed value
$571,100
Assessed 2023
Previous assessed
$498,000
+14.7% YoY
Total market value
$1,142,200
Applied tax rate
20.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2005
Heating
FORCED AIR
Cooling
AC.PACKAGE
Buildings
1
Stories
1
Total area
5,600 SF
Lot
1.32 ac (57,369 SF)
Zoning code
C1-NBHD COMM
APN
41-22-04-351-005
UPID
US43-1417223
Jurisdiction
KENT
Zoning & alternative use
C1-NBHD COMM · Grand Rapids, MI
Zoning C1-NBHD COMM · permitted uses
C1-NBHD COMM · 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
RETAIL STORES Current
Est. value
$455,000
COMMERCIAL (GENERAL)
Est. value
$500,000
OFFICE BUILDING
Est. value
$430,000
RETAIL STORES Current
COMMERCIAL (GENERAL)
OFFICE BUILDING
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
2005
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Lot
1.32 ac
Current owner
From public records · entity-resolved
P & L Co LLC
Entity
Free & Clear · 26 yrs held
Mailing address
5500 NORTHLAND DR NE, GRAND RAPIDS, MI 49525-1064
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2000
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 1, 2000
—
P & L Co LLC
Ada Village Properties INC
Grant Deed
related
—
Dec 14, 1998
$200,000
Ada Village Properties
Hall,mary M
Grant Deed
$163,165 · Independent 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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