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Property profile & analytics
OFF-MARKET
Commercial real estate
7199 Thornapple Riv SE Dr, Ada, MI 49301-8411
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US43-0915598
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1900
Total area
3,417 SF
Lot
0.2 ac (8,712 SF)
Zoning code
C1
APN
41-15-34-101-020
UPID
US43-0915598
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
-
Heather Lane Pottery (Bike/Boat/Book/etc) Store
-
Periwinkle's Clothing & Fashion Store
-
Runway Angels Consignment Boutique Discount Store (Bike/Boat/Book/etc) Store
-
Bodyworks Fitness Gym & Fitness Center
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
Salhadar Holdings II LLC · 1 yrs held
Salhadar Holdings II LLC
since 2025
3 recorded transactions
Zoning & alternative use
C1 · Ada, 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 Ada submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Ada 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 2021Property tax & assessments
Tax year 2021
Tax billed
$6,837
Tax year 2021
Assessed value
$227,600
Assessed 2023
Previous assessed
$255,300
-10.8% YoY
Effective rate
3.00%
On assessed value
Total market value
$455,200
Applied tax rate
11.0000
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
1900
Heating
NONE
Cooling
AC.PACKAGE
Stories
1
Total area
3,417 SF
Lot
0.2 ac (8,712 SF)
Zoning code
C1
APN
41-15-34-101-020
UPID
US43-0915598
Jurisdiction
KENT
Zoning & alternative use
C1 · Ada, MI
Zoning C1 · permitted uses
C1 · Ada, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Ada. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1900
Heating
NONE
Cooling
Yes
Stories
1
Lot
0.2 ac
Current owner
From public records · entity-resolved
Salhadar Holdings II LLC
Entity
Mailing address
5270 5TH MILE RD NE, BELMONT, MI 49306-9636
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 2, 2025
—
Salhadar Holdings II LLC
Ellis Real Estate LLC
Deed
$980,000 · Choiceone Bank
Apr 27, 2001
$295,000
Ellis Real Estate LLC
Thornapple Logistics LLC
Grant Deed
—
May 1, 1998
$200,000
Susan L Smith
Arneault,margaret B
Grant Deed
—
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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