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Property profile & analytics
FOR LEASE
Industrial land
420 S Steele St Upper Ionia, MI 48846
Entity Owned
20-yr Hold
Absentee Owner
Free & Clear
Property ID
US43-3856492
For Lease
$7 SF/Yr
420 S Steele St,Unit Upper, Ionia, MI 48846
View Listing →
Property profile
Verified
Property type
Industrial land
Use group
INDUSTRIAL - VACANT LAND
Lot
0.06 ac (2,614 SF)
Zoning code
B-2
APN
34-201-040-000-025-00
UPID
US43-3856492
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
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
CONSUMERS ENERGY CO
CONSUMERS ENERGY CO
Zoning & alternative use
B-2 · Ionia, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
ntial District CHAPTER 1252 HDR High-Density Residential District CHAPTER 1254 RM-1 Multiple-Family Residential District CHAPTER 1255 Health Services District CHAPTER 1256 B-1 Neighborhood Business District CHAPTER 1258 B-2 Central Business District CHAPTER 1260 B-3 General Business District CHAPTER 1261 F-Fairgrounds District CHAPTER 1262 T Technology Innov…
Zone name
Community Business District
General category
MIXED_USE
Zone area
32.97 ac
Source
1244.05 JURISDICTION.
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 Ionia submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Ionia 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 2023Property tax & assessments
Tax year 2023
Tax billed
$29
Tax year 2023
Assessed value
$900
Assessed 2023
Previous assessed
$800
+12.5% YoY
Effective rate
3.22%
On assessed value
Assessed land
$900
Land market value
$1,800
Total market value
$1,800
Applied tax rate
201.0000
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
Industrial land
Use group
INDUSTRIAL - VACANT LAND
Status
For Lease
Heating
NONE
Lot
0.06 ac (2,614 SF)
Zoning code
B-2
APN
34-201-040-000-025-00
UPID
US43-3856492
Jurisdiction
IONIA
Zoning & alternative use
B-2 · Ionia, MIZoning B-2 · permitted uses
B-2 · Ionia, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
ntial District CHAPTER 1252 HDR High-Density Residential District CHAPTER 1254 RM-1 Multiple-Family Residential District CHAPTER 1255 Health Services District CHAPTER 1256 B-1 Neighborhood Business District CHAPTER 1258 B-2 Central Business District CHAPTER 1260 B-3 General Business District CHAPTER 1261 F-Fairgrounds District CHAPTER 1262 T Technology Innovation Business District Chapter 1264 Flood Plain Overlay District Chapter 1266 PUD
Zone name
Community Business District
General category
MIXED_USE
Zone area
32.97 ac
Source
1244.05 JURISDICTION.
Building & site characteristics
From public records
Heating
NONE
Lot
0.06 ac
Current owner
From public records · entity-resolved
CONSUMERS ENERGY CO
Individual
Free & Clear · 0 yrs held
Mailing address
1 ENERGY PLZ DR, JACKSON, MI 49201-2357
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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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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