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Property profile & analytics
OFF-MARKET
Estimated value
$775,000
Flex space
904 Chicago Dr, Jenison, MI 49428-9351
Entity Owned
~
Est. High Equity
Property ID
US43-2361242
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1960
Total area
9,348 SF
Lot
2.33 ac (101,495 SF)
Zoning code
HS
APN
70-14-23-250-080
UPID
US43-2361242
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
-
Made By Hemp CBD Wellness Industrial Manufacturer Production Facility
-
Tasty Hemp Oil (Bike/Boat/Book/etc) Store Pharmacy
-
Abinoid Botanicals Department Store
-
US Hemp Wholesale Big Box & Wholesale Store
-
Alternate Vape Department Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$704k
Blend (final)
Blend
$775k
Owner & transaction history
Macnaughton Holdings LLC
Macnaughton Holdings LLC
since 2025
Last sale
$850,000
4 recorded transactions
Zoning & alternative use
HS · Jenison, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.3M
+55.8%
Commercial (general)
$1.2M
+51.1%
Auto repair, garage
$1.0M
+26.1%
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 Jenison submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Jenison 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
INDUSTRIAL (GENERAL)
$820,000
Current use
OFFICE BUILDING
$1,275,000
Change: +56% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,235,000
Change: +51% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,035,000
Change: +26% · Conversion: Easy
WAREHOUSE, STORAGE
$1,005,000
Change: +22% · Conversion: Easy
Blend value · Realmo final
$775k
Range $698k – $853k · ±10% · vs last sale $850k (Jun 11 2025)
Last sale anchor
$850k
Jun 11 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
$83 / 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
$7,833
Tax year 2022
Assessed value
$269,000
Assessed 2023
Previous assessed
$216,300
+24.4% YoY
Effective rate
2.91%
On assessed value
Total market value
$538,000
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
Flex space
Use group
LIGHT INDUSTRIAL
Status
Off-Market
Year built
1960
Heating
FORCED AIR
Buildings
3
Stories
1
Total area
9,348 SF
Lot
2.33 ac (101,495 SF)
Zoning code
HS
APN
70-14-23-250-080
UPID
US43-2361242
Jurisdiction
OTTAWA
Zoning & alternative use
HS · Jenison, MI
Zoning HS · permitted uses
HS · Jenison, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Jenison. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$820,000
OFFICE BUILDING
Est. value
$1.3M
COMMERCIAL (GENERAL)
Est. value
$1.2M
AUTO REPAIR, GARAGE
Est. value
$1.0M
WAREHOUSE, STORAGE
Est. value
$1.0M
INDUSTRIAL (GENERAL) Current
OFFICE BUILDING
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
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
1960
Heating
FORCED AIR
Stories
1
Buildings
3
Lot
2.33 ac
Current owner
From public records · entity-resolved
Macnaughton Holdings LLC
Entity
Mailing address
904 CHICAGO DR, JENISON, MI 49428-9351
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 11, 2025
$850,000
Macnaughton Holdings LLC
Jlg Ventures LLC
Warranty Deed
$812,000 · Wmc Mortgage Corp
Dec 14, 2018
—
Jlg Ventures LLC
—
Deed
related
$280,000 · Regenald R Brewer
Jun 22, 2018
—
Jlg Ventures LLC
Whitefish Capital Partners II LLC
Warranty Deed
—
Dec 4, 2008
$465,000
Whitefish Capital Partners II LLC
Rickers Real Estate Grand Rapids Ll
Warranty Deed
$315,000 · First Midwest Bank
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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