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Property profile & analytics
OFF-MARKET
Estimated value
$605,000
Medical Office Space
7101 Wackerly St, Midland, MI 48642-7409
Entity Owned
3-yr Hold
Free & Clear
Property ID
US43-2358012
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1971
Total area
7,518 SF
Lot
25.53 ac (1,112,087 SF)
Zoning code
OS
APN
13-02-10-200
UPID
US43-2358012
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
-
Rehabilitation Services: 7101 W. Wackerly Street Rehabilitation Center Physical Therapy Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$605k
Owner & transaction history
Wackerly Development LLC · 3 yrs held
Wackerly Development LLC
since 2022
Last sale
$570,000
2 recorded transactions
Zoning & alternative use
OS · Midland, 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 Midland submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Midland 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
$675,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$655,000
Change: 0% · Conversion: Easy
RETAIL STORES
$465,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$605k
Range $545k – $666k · ±10% · vs last sale $570k (Sep 6 2022)
Last sale anchor
$570k
Sep 6 2022
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
$80 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$17,738
Tax year 2022
Assessed value
$309,800
Assessed 2023
Previous assessed
$303,200
+2.2% YoY
Effective rate
5.73%
On assessed value
Total market value
$619,600
Applied tax rate
180.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1971
Heating
FORCED AIR
Cooling
YES
Buildings
2
Stories
1
Total area
7,518 SF
Lot
25.53 ac (1,112,087 SF)
Zoning code
OS
APN
13-02-10-200
UPID
US43-2358012
Jurisdiction
MIDLAND
Zoning & alternative use
OS · Midland, MI
Zoning OS · permitted uses
OS · Midland, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Midland. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING
Est. value
$655,000
RETAIL STORES
Est. value
$465,000
OFFICE BUILDING
RETAIL STORES
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
1971
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
2
Lot
25.53 ac
Current owner
From public records · entity-resolved
Wackerly Development LLC
Entity
Free & Clear · 3 yrs held
Mailing address
240 W MAIN ST STE #1000, MIDLAND, MI 48640-5100
Ownership since
2022
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
Sep 6, 2022
$570,000
Wackerly Development LLC
Lifestyle Properties LLC
Warranty Deed
—
Aug 11, 2020
$335,000
Lifestyle Properties LLC
Marlin Management LLC
Warranty Deed
$360,000 · Mercantile Bank Of Michigan
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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