2025 Record Card.pdf
Pt2 LLC, Petitioner V Township Of Meridian, Respondent · 25-002002-TT
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ARCHIVED *** Information herein deemed reliable but not guaranteed*** INGHAM County: MERIDIAN TOWNSHIP Jurisdiction: Printed on Parcel Number: 33-02-02-17-379-010 912,886C 1,020,300 713,600 306,700 2022 1,013,430C 1,148,900 820,300 328,600 2023 1,064,101C 1,224,300 851,900 372,400 2024 1,097,088C 1,243,700 871,300 372,400 2025 Taxable Value Tribunal/ Other Board of Review Assessed Value Building Value Land Value Year Work Description for Permit PM24-0949, Issued 11/20/2024: REPLACE FURNACE (RTU) CHUNGS TAEKWONDO SUITE 190- EAST OAK Work Description for Permit PM24-0863, Issued 10/25/2024: THE LOCAL EPICUREAN SUITE 100 GAS PINPE FOR WATER HEATER Work Description for Permit PM24-0786, Issued 09/26/2024: DUCT ALTERATIONS - INSPECTIONS Work Description for Permit PP24-0290, Issued 08/20/2024: SUITE 100 PLUMBING WORK- UNDERGROUND, ROUGH AND FINAL Work Description for Permit PE24-0422, Issued 08/15/2024: SUITE 100 THE LOCAL EPICUREAN REMODEL Land Improvement Cost Estimates Description Rate Size % Good Cash Value Commercial Local Cost Land Improvements Description Rate Size % Good Arch Mult Cash Value PARKING LOT / SQ. FT 2.52 38000 28 100 26,813 Total Estimated Land Improvements True Cash Value = 26,813 * Factors * Description Frontage Depth Front Depth Rate %Adj. Reason Value RATE TABLE $8.50/SF 87631 SqFt 8.50000 100 744,864 2.01 Total Acres Total Est. Land Value = 744,864 Land Value Estimates for Land Table 2010A.2010A GRAND RIVER RETAIL INT 05/08/2019 PICTURE BAL 01/23/2001 NEW CONSTR D/C 12/30/1988 INSPECTED Who When What Level Rolling Low High Landscaped Swamp Wooded Pond Waterfront Ravine Wetland Flood Plain X X Topography of Site Dirt Road Gravel Road Paved Road Storm Sewer Sidewalk Water Sewer Electric Gas Curb Street Lights Standard Utilities Underground Utils. X X X X X Public Improvements Vacant Improved X The Equalizer. Copyright (c) 1999 - 2009. Licensed To: Township of Meridian, County of Ingham, Michigan Comments/Influences M17-29-2 COM @ THE S 1/4 COR. SEC. 17 -N 0 DEG 14'W, 113.83 FT. ON NS 1/4 LN. TO S'LY LN. GRAND RIVER AVE. -N 68 DEG 36'W, ON R/W 860.35 FT. TO THE POB. -S 07 DEG 25'W, 225.54 FT. -W 197.58 FT. -N 57.61 FT. -W 136.20 FT. -N 88 FT. -N 21 DEG 24'E, 205 FT. TO S'LY R/W LN. -S 68 DEG 36'E, ON R/W 309.4 FT. TO THE POB. SEC 17 T4NR1W 1.9 AC M/L Tax Description PT2 LLC 2502 LAKE LANSING ROAD - SUITE C LANSING MI 48912 Owner's Name/Address 2843 GRAND RIVER AVE Property Address PP24-0290 08/20/2024 Commercial 2025 Est TCV 2,487,452 TCV/TFA: 115.36 PM24-0786 09/26/2024 Commercial MG: PM24-0863 10/25/2024 Gas Pipe P.R.E. 0% PM24-0949 11/20/2024 Furnace School: OKEMOS PUBLIC SCHOOLS Status Number Date Building Permit(s) Zoning: C-2 Class: COMMERCIAL-IMPROVE 0.0 REALTOR 03-ARM'S LENGTH WD 01/01/1984 140,000 GREINER/GEISENHAVER EYDE CONST CO 100.0 BUYER/SELLER 2901-0263 03-ARM'S LENGTH WD 05/16/2001 2,380,000 EAST OAK ASSOCIATES LLC EAST OAK SQUARE ASSOCIATES 100.0 DEED 3166-1129 03-ARM'S LENGTH WD 05/03/2005 2,983,000 PT2 LLC EAST OAK ASSOCIATES LLC Prcnt. Trans. Verified By Liber & Page Terms of Sale Inst. Type Sale Date Sale Price Grantee Grantor 09/18/2025
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ARCHIVED *** Information herein deemed reliable but not guaranteed*** Parcel Number: 33-02-02-17-379-010, Land Image Printed on 09/18/2025 Parcel Number: 33-02-02-17-379-010, Land Image Printed on 09/18/2025 17-379-010 [i] Subject Site 2.01ac Cue Mo 88.00 Due Ww 136,20 Cuz M 57.& Cue W 197.58 Sketch by Apex Sketch *** Information herein deemed reliable but not guaranteed***
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ARCHIVED Bsmnt Insul. Thickness (40) Exterior Wall: (39) Miscellaneous: (14) Roof Cover: (13) Roof Structure: Slope=0 X Steel Joists, Steel Deck, Gypsum Incandescent Fluorescent Mercury Sodium Vapor Transformer X X Flex Conduit Rigid Conduit Armored Cable Non-Metalic Bus Duct X Few Average Many Unfinished Typical X Few Average Many Unfinished Typical X Fixtures: Outlets: (11) Electric and Lighting: X Typical, Retail Stores, Class C,D X Zoned A.C., Warm and Cooled Air Hand Fired Boiler Coal Stoker Gas Oil X (10) Heating and Cooling: (9) Sprinklers: X Typical, Retail Stores Urinals Wash Bowls Water Heaters Wash Fountains Water Softeners Total Fixtures 3-Piece Baths 2-Piece Baths Shower Stalls Toilets Few None Average Typical Many Above Ave. (8) Plumbing: (7) Interior: X Masonry, Retail Stores (6) Ceiling: X Acoustical Ceilings, Tile or Panels (5) Floor Cover: X Carpet and Pad X Tile, Ceramic or Quarry X Hardener and Sealer, Concrete (4) Floor Structure: X Concrete, On Ground (3) Frame: X Bearing Walls, Masonry supports onl Block Brick/Stone Poured Conc. X Footings (2) Foundation: (1) Excavation/Site Prep: <<<<< Calculator Cost Computations >>>>> Class: C Quality: Average Stories: 1 Story Height: 14 Perimeter: 802 Overall Building Height: 14 Base Rate for Upper Floors = 107.73 (10) Heating system: Package Heating & Cooling Cost/SqFt: 16.98 100% Adjusted Square Foot Cost for Upper Floors = 124.71 Total Floor Area: 21,562 Base Cost New of Upper Floors = 2,688,997 Reproduction/Replacement Cost = 2,688,997 Eff.Age:34 Phy.%Good/Abnr.Phy./Func./Econ./Overall %Good: 42 /100/100/100/42.0 Total Depreciated Cost = 1,129,379 ECF (2030 RESTAURANT/STRIP MALL RETAIL) 1.490 => TCV of Bldg: 1 = 1,682,774 Replacement Cost/Floor Area= 124.71 Est. TCV/Floor Area= 78.04 ** ** Calculator Cost Data ** ** Quality: Average Heat#1: Package Heating & Cooling 100% Heat#2: Package Heating & Cooling 0% Ave. SqFt/Story: 21562 Ave. Perimeter: 802 Has Elevators: *** Basement Info *** Area: Perimeter: Type: Display Basement Heat: Forced Air Furnace * Mezzanine Info * Area #1: Type #1: Office (No Rates) Area #2: Type #2: Office (No Rates) * Sprinkler Info * Area: Type: Average Low Ave. X Above Ave. High Construction Cost Comments: Overall Bldg Height 14 Year Built Remodeled 1988 Depr. Table : 2.5% Effective Age : 34 Physical %Good: 42 Func. %Good : 100 Economic %Good: 100 Class: C Floor Area: 21,562 Gross Bldg Area: 21,562 Stories Above Grd: 1 Average Sty Hght : 14 Bsmnt Wall Hght Desc. of Bldg/Section: EAST OAK SQUARE NBH CENTER Calculator Occupancy: Shopping Centers - Neighborhood *** Information herein deemed reliable but not guaranteed*** Commercial/Industrial Building/Section 1 of 1 Printed on Parcel Number: 33-02-02-17-379-010 09/18/2025
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ARCHIVED *** Information herein deemed reliable but not guaranteed*** Parcel Number: 33-02-02-17-379-010, Commercial/Industrial Building 1 Printed on 09/18/2025 Parcel Number: 33-02-02-17-379-010, Commercial/Industrial Building 1 Printed on 09/18/2025 17-379-010 1843 GRAND PIVER EAST QAK SQUARE Grand Fiver Avenua 2 3 S0CCP 16.4 w= B ] J? = EX Bg, Z Har a) EE =g] = 52 =] E = = = wa f=] “lg E£ ] 2 Z = E E = ES Zz = = Ea cco BE. 3 5 3 Be 4 EE E = = 1.005 < = Ee Eo w= 126 es £ = E = = = = = =~ Eg = = a je wm 2 gg = E = Ea 18 *** Information herein deemed reliable but not guaranteed***
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ARCHIVED <<<<< Income Capitalization Calculations >>>>> @ 16.25/sq. ft. x 21562 sq. ft. = 350,383 Gross Income (100% Occupancy + Miscellaneous) = 350,383 Vacancy & Collection Loss 7.00% = -24,527 Effective Gross Income = 325,856 Annual Operating Expenses Non-Itemized Expenses: 65171 Total Annual Operating Expenses = 65,171 Net Operating Income before Taxes or Capital Charges = 260,685 Capitalization Rate = 7.00% Tax Rate = 3.48% Overall Cap. Rate = 10.48% Income Capitalized Value (Net Income / Capitalization Rate) = 2,487,452 % of Stmnt on Parcel: 100 Contribution to Total Parcel Cost = 2,487,452 Comments/Data From: *** Information herein deemed reliable but not guaranteed*** Income Statement 1 of 1 Printed on Parcel Number: 33-02-02-17-379-010 09/18/2025