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Property profile & analytics
FOR SALE
Commercial real estate
953 Fulton St E, Grand Rapids, MI 49503
Individually Owned
9-yr Hold
Free & Clear
Property ID
US43-1897122
For Sale
1 / 51
$1,050,000
953 Fulton St E, Grand Rapids, MI 49503
View Listing →
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1929
Total area
4,614 SF
Lot
0.05 ac (2,352 SF)
Zoning code
TN-TBA
APN
41-14-29-158-016
UPID
US43-1897122
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
-
Rakowski Family Farm Market Grocery & Convenience Store Food Market
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$504k
Blend (final)
Blend
$505k
Owner & transaction history
Asim Pitic · 9 yrs held
Asim Pitic
since 2016
5 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
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
Blend value · Realmo final
$505k
Range $455k – $556k · ±10%
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
$109 / 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 2021Property tax & assessments
Tax year 2021
Tax billed
$7,524
Tax year 2021
Assessed value
$289,300
Assessed 2024
Previous assessed
$273,800
+5.7% YoY
Effective rate
2.60%
On assessed value
Total market value
$578,600
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
1929
Heating
FORCED AIR
Buildings
1
Stories
2
Total area
4,614 SF
Lot
0.05 ac (2,352 SF)
Zoning code
TN-TBA
APN
41-14-29-158-016
UPID
US43-1897122
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
1929
Heating
FORCED AIR
Stories
2
Buildings
1
Lot
0.05 ac
Current owner
From public records · entity-resolved
Asim Pitic
Individual
Free & Clear · 9 yrs held
Mailing address
3103 INDIAN PT RD, SAUGATUCK, MI 49453-9744
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 27, 2022
—
Asim Pitic
—
Deed
related
$525,000 · Community Choice Cu
Oct 6, 2016
—
Asim Pitic
953 East Fulton LLC
Warranty Deed
—
Feb 14, 2008
—
953 East Fulton LLC
Baribeau,steve
Quit Claim Deed
related
—
Jun 21, 2006
$350,000
Steve Baribeau
Alflen,richard J JR
Warranty Deed
$338,900 · Macatawa Bank
—
—
953 East Fulton LLC
—
Deed Of Trust
related
$188,000 · Macatawa 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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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