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Property profile & analytics
OFF-MARKET
Banks
708 Ctr Ave, Bay City, MI 48708-5975
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US43-0997616
Property summary
AI-generated overview
This stunning, two-story, 7,419 square foot Class A office building, located at 708 Center Ave in Bay City, Michigan, presents a unique investment opportunity. Originally constructed in 1922 as the Bay County Library and extensively renovated in 2007, the property boasts a prime location in the O-1 Office District. The building features five well-maintained HVAC systems (installed 2021), a modern landscape irrigation system, and a digital monument sign. Ample on-site parking is provided by approximately 25 spaces, sheltered by a roughly 1,000 square foot canopy structure. Currently, one tenant occupies the lower level, providing immediate cash flow. The 0.75-acre lot (APN 160-021-459-003-00) offers significant potential. The asking price is $795,000 ($107.16/sq ft), with an occupancy date of May 1, 2024. This property combines historic charm with modern amenities, making it an exceptional investment in a desirable Bay City location.
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
1922
Total area
8,200 SF
Lot
0.69 ac (30,056 SF)
Zoning code
O-1 OFFICE
APN
160-021-459-003-00
UPID
US43-0997616
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
-
Joseph E Pergande PLC Law Firm
-
Thomas E. Bock, Attorney Law Firm Child Welfare Organization
-
CAN (Child Abuse & Neglect) Council, Bay County Charitable Organization Social Service Agency
-
Mc Quillan John J Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
On Center LLC · 1 yrs held
On Center LLC
since 2025
1 recorded transaction
Zoning & alternative use
O-1 OFFICE · Bay City, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Bay City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Bay City 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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 2023Property tax & assessments
Tax year 2023
Tax billed
$37,973
Tax year 2023
Assessed value
$413,250
Assessed 2024
Previous assessed
$466,350
-11.4% YoY
Effective rate
9.19%
On assessed value
Total market value
$826,500
Applied tax rate
160.0000
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
Banks
Use group
FINANCIAL BUILDING
Status
Off-Market
Year built
1922
Heating
FORCED AIR
Stories
2
Total area
8,200 SF
Lot
0.69 ac (30,056 SF)
Zoning code
O-1 OFFICE
APN
160-021-459-003-00
UPID
US43-0997616
Jurisdiction
BAY
Zoning & alternative use
O-1 OFFICE · Bay City, MI
Zoning O-1 OFFICE · permitted uses
O-1 OFFICE · Bay City, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Bay City. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1922
Heating
FORCED AIR
Stories
2
Lot
0.69 ac
Current owner
From public records · entity-resolved
On Center LLC
Entity
Mailing address
7254 MICHIGAN AVE, PIGEON, MI 48755-5145
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 18, 2025
—
On Center LLC
Thumb Bank & Trust
Warranty Deed
$350,000 · Thumb Bank & Trust
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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