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Property profile & analytics
OFF-MARKET
Estimated value
$550,000
Drug stores
8012 Spg Arbor Rd, Spring Arbor, MI 49283-9764
Entity Owned
Absentee Owner
Free & Clear
Property ID
US43-1146629
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
2002
Total area
7,014 SF
Lot
4 ac (174,240 SF)
Zoning code
C-3
APN
000-12-16-430-014-08
UPID
US43-1146629
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
-
Weatherwax Pharmacy Pharmacy
-
Marlouis Edwards Pharmacy
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$477k
Blend (final)
Blend
$550k
Owner & transaction history
Clab Leasing LLC
Clab Leasing LLC
since 2025
Last sale
$615,000
3 recorded transactions
Zoning & alternative use
C-3 · Spring Arbor, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$590,000
+23.9%
Medical building
$575,000
+20.6%
Office building
$520,000
+9.2%
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 Spring Arbor submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Spring Arbor 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
$475,000
Current use
RESTAURANT
$590,000
Change: +24% · Conversion: Easy
MEDICAL BUILDING
$575,000
Change: +21% · Conversion: Difficult
OFFICE BUILDING
$520,000
Change: +9% · Conversion: Easy
COMMERCIAL (GENERAL)
$470,000
Change: -1% · Conversion: Easy
AUTO REPAIR, GARAGE
$395,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$550k
Range $495k – $605k · ±10% · vs last sale $615k (Jun 29 2025)
Last sale anchor
$615k
Jun 29 2025
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
$78 / 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
$16,496
Tax year 2022
Applied tax rate
15.0000
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
Drug stores
Use group
DRUG STORE, PHARMACY
Status
Off-Market
Year built
2002
Heating
FORCED AIR
Buildings
1
Stories
1
Total area
7,014 SF
Lot
4 ac (174,240 SF)
Zoning code
C-3
APN
000-12-16-430-014-08
UPID
US43-1146629
Jurisdiction
JACKSON
Zoning & alternative use
C-3 · Spring Arbor, MI
Zoning C-3 · permitted uses
C-3 · Spring Arbor, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Spring Arbor. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$475,000
RESTAURANT
Est. value
$590,000
MEDICAL BUILDING
Est. value
$575,000
OFFICE BUILDING
Est. value
$520,000
COMMERCIAL (GENERAL)
Est. value
$470,000
AUTO REPAIR, GARAGE
Est. value
$395,000
RETAIL STORES Current
RESTAURANT
MEDICAL BUILDING
OFFICE BUILDING
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
2002
Heating
FORCED AIR
Stories
1
Buildings
1
Lot
4 ac
Current owner
From public records · entity-resolved
Clab Leasing LLC
Entity
Free & Clear · 0 yrs held
Mailing address
910 WESTWOOD BLVD, JACKSON, MI 49203-2654
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 29, 2025
$615,000
Clab Leasing LLC
Weatherwax Prop Of Spring Arbor LLC
Warranty Deed
—
Dec 6, 2024
—
Weatherwax Prop Of Spring Arbor LLC
—
Deed
related
$138,000 · James Weatherwax Etux
Jan 19, 2024
—
Lack River Bells LLC
Weatherwax Prop Of Spring Arbor LLC
Warranty 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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