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Property profile & analytics
FOR SALE
Commercial real estate
741 Leonard St NW Grand Rapids, MI 49504
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US43-1064136
For Sale
1 / 9
$1,999,999
741 Leonard St NW, Grand Rapids, MI 49504
View Listing →
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1910
Total area
5,102 SF
Lot
0.17 ac (7,579 SF)
Zoning code
TN-TBA
APN
41-13-13-356-030
UPID
US43-1064136
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
-
The Iron Well Bar & Pub
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
741 Building LLC · 4 yrs held
741 Building LLC
since 2022
7 recorded transactions
Zoning & alternative use
TN-TBA · Grand Rapids, 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 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
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
$10,960
Tax year 2021
Assessed value
$310,600
Assessed 2023
Previous assessed
$281,200
+10.5% YoY
Effective rate
3.53%
On assessed value
Total market value
$621,200
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
For Sale
Year built
1910
Heating
FORCED AIR
Buildings
5
Stories
1
Total area
5,102 SF
Lot
0.17 ac (7,579 SF)
Zoning code
TN-TBA
APN
41-13-13-356-030
UPID
US43-1064136
Jurisdiction
KENT
Zoning & alternative use
TN-TBA · Grand Rapids, MI
Zoning TN-TBA · permitted uses
TN-TBA · 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.
Building & site characteristics
From public records
Year built
1910
Heating
FORCED AIR
Stories
1
Buildings
5
Lot
0.17 ac
Current owner
From public records · entity-resolved
741 Building LLC
Entity
Mailing address
741 LEONARD ST NW, GRAND RAPIDS, MI 49504-4252
Mailing matches property
Yes
Owner-occupied
Yes
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
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 9, 2022
—
741 Building LLC
741 Leonard LLC
Warranty Deed
—
Mar 28, 2019
—
Tc 741 Leonard LLC
—
Deed
related
$530,000 · Mercantile Bk/mi
Aug 4, 2017
—
Tc 741 Leonard LLC
Farah,barbara
Warranty Deed
$530,000 · Mercantile Bk/mi
Feb 9, 2006
—
Barbara Farah
Farah,michael A & Barbara
Quit Claim Deed
related
—
Jan 12, 1999
—
Farah,michael A & Barbara A
Nassif,richard A & Joann
Trustees Deed
$101,775 · Old Kent Bank
Oct 6, 1998
$75,000
Richard Nassif
Mickel,irene
Grant Deed
—
—
—
Tc 741 Leonard LLC
—
Deed Of Trust
related
$530,000 · Mercantile Bk/mi
—
—
Michael A Farah
—
Deed Of Trust
related
$30,550 · Huntington National Bank
—
—
Barbara Farah
—
Deed Of Trust
related
$75,000 · Fifth Third Bank
—
—
Michael A Farah
—
Deed Of Trust
related
$100,000 · Fifth Third Bank Western Mi
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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