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Property profile & analytics
OFF-MARKET
Estimated value
$2,435,000
Medical Office Space
8251 Westpark Way Zeeland, MI 49464-7902
Entity Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US43-1930631
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Total area
19,966 SF
Lot
5.51 ac (240,146 SF)
Zoning code
R-1
APN
70-17-20-200-029
UPID
US43-1930631
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.55M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.44M
Owner & transaction history
West Michigan Development B LLC · 2 yrs held
West Michigan Development B LLC
since 2023
Last sale
$2.2M
2 recorded transactions
Zoning & alternative use
R-1 · Zeeland, 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 Zeeland submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Zeeland 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
$2,785,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$2,760,000
6.5%
$2,545,000
7%
$2,365,000
Alternative Use
Use
Estimation
RETAIL STORES
$2,955,000
Change: 0% · Conversion: Difficult
OFFICE BUILDING
$2,725,000
Change: 0% · Conversion: Easy
COMMERCIAL (GENERAL)
$2,645,000
Change: 0% · Conversion: Easy
AUTO REPAIR, GARAGE
$2,205,000
Change: 0% · Conversion: Difficult
WAREHOUSE, STORAGE
$2,140,000
Change: 0% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$1,750,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$2.44M
Range $2.19M – $2.68M · ±10% · vs last sale $2.20M (Oct 7 2022)
Last sale anchor
$2.20M
Oct 7 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
$122 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$54,228
Tax year 2023
Assessed value
$1,232,500
Assessed 2024
Previous assessed
$1,080,700
+14.0% YoY
Effective rate
4.40%
On assessed value
Total market value
$2,465,000
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
Heating
FORCED AIR
Buildings
1
Stories
2
Total area
19,966 SF
Lot
5.51 ac (240,146 SF)
Zoning code
R-1
APN
70-17-20-200-029
UPID
US43-1930631
Jurisdiction
OTTAWA
Zoning & alternative use
R-1 · Zeeland, MI
Zoning R-1 · permitted uses
R-1 · Zeeland, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zeeland. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES
Est. value
$3.0M
OFFICE BUILDING
Est. value
$2.7M
COMMERCIAL (GENERAL)
Est. value
$2.6M
AUTO REPAIR, GARAGE
Est. value
$2.2M
WAREHOUSE, STORAGE
Est. value
$2.1M
INDUSTRIAL (GENERAL)
Est. value
$1.8M
RETAIL STORES
OFFICE BUILDING
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
INDUSTRIAL (GENERAL)
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
Heating
FORCED AIR
Stories
2
Buildings
1
Lot
5.51 ac
Current owner
From public records · entity-resolved
West Michigan Development B LLC
Entity
Mailing address
602 MICHIGAN AVE, HOLLAND, MI 49423-4918
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
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
Oct 24, 2023
—
West Michigan Development B LLC
Holland Community Hospital
Lease
$13,000,000 · Independent Bank
Oct 7, 2022
—
Holland Community Hospital
Chicago Drive Property Development
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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