Combined Submittal Docs.pdf

834 Sherman LLC Petitioner V City Of Grand Rapids Respondent · 26-001610-TT

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INCOME PROPERTY INFORMATION

Parcel Address:

834-836 Sherman St SE Grand Rapids MI

Parcel #: 41-14-32-151-008

Current Income Information

Assessor's Use Only

NAME OF TENANT AND ADDRESS

 Lease Term

Rent

Size in

Tenant Owned

From

To

Per Mo.

Sq. Ft.

Leasehold Improvements

834 Sherman #1: Brandan Jiggens

1/25/2025 1/25/2026

1,100 800SF (est)

N/a

834 Sherman #2: Connor Compeau

5/2/2024 4/25/2027

1,100 600Sf (est)

N/a

836 Sherman #1: Ashley Campos

5/1/2024 5/25/2026

1,402 800SF (est)

N/a

836 Sherman #2: Lamont Arrington

8/13/2025 8/25/2026

1,050 600Sf (est)

N/a

3 YEAR

2023 (non full year)

2024

2025

AVERAGE

Explanation

Explain Percentage Income

Total Base Income Received

30,951.39

$ 

38,175.00

$ 

53,022.00

$ 

40,716.13

$ 

Total Income/ Percentage Clause(s)

-

$ 

-

$ 

-

$ 

-

$ 

Total Other Income (Explain)

498.00

$ 

2,333.00

$ 

3,047.64

$ 

1,959.55

$ 

Taxes Reimbursed by Tenant

-

$ 

-

$ 

-

$ 

-

$ 

TOTAL ALL INCOME

31,449.39

$ 

40,508.00

$ 

56,069.64

$ 

42,675.68

$ 

NOTE: Property taxes & debt retirement will be

included in the capitalization rate and need not be

 OWNER'S EXPENSE SCHEDULE

itemized under expenses.

Management

1,628.06

$ 

2,910.85

$ 

3,727.02

$ 

2,755.31

$ 

Building Insurance (Annual Cost)

1,497.24

$ 

2,533.52

$ 

2,859.26

$ 

2,296.67

$ 

Repairs & Maintenance

535.73

$ 

35,779.72

$ 

13,541.30

$ 

16,618.92

$ 

Janitorial (paid by owner)

400.00

$ 

$

-

$ 

200.00

$ 

Utilities (paid by owner)

986.86

$ 

4,337.73

$ 

4,578.15

$ 

3,300.91

$ 

Landscaping/Snow & Ice

-

$ 

1,186.00

$ 

2,522.16

$ 

1,236.05

$ 

Insurance

1,497.24

$ 

2,533.52

$ 

2,859.26

$ 

2,296.67

$ 

Accounting Fee's

-

$ 

1,750.00

$ 

1,925.00

$ 

1,225.00

$ 

Marketing/Promotions

41.36

$ 

227.00

$ 

101.00

$ 

123.12

$ 

Capital Improvements

-

$ 

12,463.76

$ 

$

6,231.88

$ 

Lease Fees

-

$ 

-

$ 

-

$ 

-

$ 

Other Expenses - Explain

563.00

$ 

493.00

$ 

789.00

$ 

615.00

$ 

Pest control

Other Expenses - Explain

40,707.79

$ 

-

$ 

-

$ 

13,569.26

$ 

Bad debt (evicti

TOTAL EXPENSES

47,857.28

$ 

64,215.10

$ 

32,902.15

$ 

48,324.84

$ 

$55,320.00

Hunter Pizzo - Asset Manager 

2/4/2026

Signature & Title of Preparer

Date

Estimated Annual Gross Income if 100% occupied as of Dec. 31, 2025

REAL PROPERTY INFORMATION

If you purchased this property since 2013:

Date of purchase:

Purchase price: $

If this property is for sale:

Asking price:

$

Listing Broker:

Has the property been appraised since December 31, 2013?

Yes

_____ No 

_____

If yes, what was the appraised value?

$

What was the purpose of the appraisal?

To your knowledge, have any of your tenants sublet their space to another party: Yes _____ No _____ 

If yes, please list tenants and sublessor 

under " REMARKS " below.

Signature

Phone Number

Date

If you have any questions regarding this questionaire, please call (616) 456-3081.

**IMPORTANT**

Complete the reverse side for income producing property!!!

RETURN COMPLETED FORM TO:

Office of the City Assessor

300 Monroe Avenue, N.W.

Grand Rapids, MI 49503

REMARKS

1/23/2017

Form Revision Date 02/2017 

ARTICLES OF ORGANIZATION 

For use by DOMESTIC LIMITED LIABILITY COMPANY 

Pursuant to the provisions of Act 23, Public Acts of 1993, the undersigned executes the following Articles: 

Article I

 

The name of the limited liability company is:

834 SHERMAN LLC

 

 

Article II 

Unless the articles of organization otherwise provide, all limited liability companies formed pursuant to 1993 PA 23 have the purpose of 

engaging in any activity within the purposes for which a limited liability company may be formed under the Limited Liability Company Act of 

Michigan. You may provide a more specific purpose: 

 

Article III 

The duration of the limited liability company if other than perpetual is: 

 

Article IV 

The street address of the registered office of the limited liability company and the name of the resident agent at the registered office 

(P.O. Boxes are not acceptable): 

1. Agent Name: 

STEWART BEAL

 

2. Street Address: 

23 N WASHINGTON

 

Apt/Suite/Other: 

 

City: 

YPSILANTI

 

State:

MI 

Zip Code: 48197

 

3. Registered Office Mailing Address: 

P.O. Box or Street 

Address: 

23 N WASHINGTON

 

Apt/Suite/Other:

 

City: 

YPSILANTI

 

State: 

MI

MI

 

Zip Code: 48197

 

 Article V

 

(Insert any desired additional provision authorized by the Act.) 

THIS ENTITY IS MANAGED BY THE MEMBERS.

Signed this 9th Day of February, 2023 by the organizer(s): 

Signature

Title

Title if ''Other'' was selected 

Stewart Beal 

Organizer 

 

 

By selecting ACCEPT, I hereby acknowledge that this electronic document is being signed in accordance with the Act. I further certify 

that to the best of my knowledge the information provided is true, accurate, and in compliance with the Act.

 

Filed by Corporations Division Administrator Filing Number: 223645984300 Date: 02/17/2023

n

m

l

k

j Decline n

m

l

k

j

i Accept

MICHIGAN DEPARTMENT OF LICENSING AND REGULATORY AFFAIRS 

 

FILING ENDORSEMENT 

 

 

This is to Certify that the 

 

for 

 

 

 

 

 ID Number: 

 

 

 

 

 

received by electronic transmission on , is hereby endorsed. 

Filed on , by the Administrator. 

 

 

The document is effective on the date filed, unless a subsequent effective date within 90 days after 

received date is stated in the document. 

 

 

 

 

 

 

 

 In testimony whereof, I have hereunto set my 

 hand and affixed the Seal of the Department, 

 

 

 

834 SHERMAN LLC

ARTICLES OF ORGANIZATION

802986724

February 17, 2023

February 09, 2023

in the City of Lansing, this 17th day

in the City of Lansing, this 17th day

in the City of Lansing, this 17th day

in the City of Lansing, this 17th day

of February, 2023.

of February, 2023.

of February, 2023.

of February, 2023.

Filed by Corporations Division Administrator Filing Number: 223645984300 Date: 02/17/2023

Linda Clegg, Director

Linda Clegg, Director

Linda Clegg, Director

Linda Clegg, Director

Corporations, Securities & Commercial Licensing Bureau

Corporations, Securities & Commercial Licensing Bureau

Corporations, Securities & Commercial Licensing Bureau

Corporations, Securities & Commercial Licensing Bureau

To Whom It May Concern, 

I, Stewart Beal, am the owner of the property located at 834-836 Sherman St SE Grand Rapids MI Parcel 

ID 41—14-32-151-008 

I hereby authorize Hunter Pizzo to act as my authorized agent for all matters related to the property tax 

assessment appeal for this property. This authorization includes, but is not limited to, communicating 

with the Assessor’s Office, submitting appeal documentation, and representing my interests before the 

Board of Review. 

This authorization is effective as of the date below and shall remain in effect for the duration of the 

current assessment appeal process. 

If you have any questions regarding this authorization, please contact me directly. 

Sincerely, 

Stewart Beal 

Signature: __________________ 

Date: ___________________ 

734-662-6133 

Sbeal@gobeal.com 

 

02/07/2026

Document ID: 84060d48-86a0-4ad0-912c-35da3f1c4095

1168 

THIS 

IS NOT A TAX BILL 

L-4400 

Notice of Assessment, Taxable Valuation, and Property Classification 

This form is Issued under the authority of PA. 206 of 1893, Sec. 211.24 (c) and Sec.211,34c, as amended. 

FROM 

CITY OF GRAND RAPIDS 

OFFICE OF CITY ASSESSOR 

300 MONROE AVE NW 

GRAND RAPIDS 

MI 

49503 

(616) 456-3081 

email: assessorgr@grcity.us 

NAME AND ADDRESS OF OWNER OR PERSON NAMED ON ASSESSMENT ROLL: 

PRINCIPAL RESIDENCE EXEMPTION 

January 16, 2026 

PARCEL IDENTIFICATION 

PARCEL CODE NUMBER: 41-14-32-151-008 

PROPERTY ADDRESS: 

834 SE SHERMAN ST 

wasn AUTO*MIXED AADC 493 

% Exempt As "Homeowner's Principal Residence”; 0% 

834 SHERMAN LLC 

PO BOX 980208 

YPSILANTI, MI 48198-0208 

LTT 

CTR EEE 

HU 

ET TERRA 

% Exempt As “Qualified Agricultural Property”; 0% 

ACCORDING TO MCL.211.34c THIS PROPERTY IS CLASSIFIED AS: 401 

RESIDENTIAL 

PRIOR YEAR'S CLASSIFICATION: 401 RESIDENTIAL 

To estimate your taxes beised on this notice, go to 

PRIOR AMOUNT 

CURRENT AMOUNT 

CHANGE FROM 

www.grcity.us/taxestimator 

YEAR: 2025 

YEAR: 2026 

CEA 

10 

1. TAXABLE VALUE (Current amount is tentative): 

141,350 

145,166 

3,816 

2. ASSESSED VALUE: 

144,100 

179,200 

35,100 

3. TENTATIVE EQUALIZATION FACTOR: 

1.0000 

4. STATE EQUALIZED VALUE (Current amount is tentative): 

1441 00 

179,200 

1 

5. There WAS/WAS NOT a transfer of ownership on this property in 

2025: Was Not 

IF THERE WAS A TRANSFER OF OWNERSHIP on your property in 2025, your 2026 Taxable Value will be the same as your 2026 State 

Equalized Value. 

35,100 

IF THERE WAS NOT A TRANSFER OF OWNERSHIP on your property in 2025, your 2026 Taxable Value is calculated by multiplying 

your 2025 Taxable Value by 1.027 (Inflation Rate Multiplier for the current year). Physical changes in your property may also increase or 

decrease your Taxable Value. Your 2026 Taxable Value cannot be higher than your 2026 State Equalized Value. 

The 2026 Inflation Rate Multiplier is: 1.027 

The Change in Assessed Value is due to the following: 

Market Adjustment 

The Interim Assessor of record is L. Post. Questions regarding the Notice of Assessment, Taxable Valuation, and 

Property Classification may be directed to the Assessor's Office by calling (616) 456-3081 or emailing: 

assessorgr@greity.us. 

Assessment Appeal Information: 

The Taxable Value, the Assessed Value, the State Equalized Value, the Property Classification, or the Transfer of 

Ownership may be appealed by filing a petition with the Assessor. Assessment records may be examined during the 

Assessor's Review from February 2 through February 13, 2026. Appeals must be postmarked or received in the Assessor's 

Office by 5:00 PM on February 13. There are no exceptions to this deadline. Appeal forms are available at the Assessor's 

Office or on the City website at www.grandrapidsmi.gov/ARAppeal. Petitioner will be notified by mail of the Assessor's 

decision. 

Petitioner may appeal the Assessor's decision to the Board of Review by letter or appointment. The Board of Review will 

meet in Room 360 of City Hall from March 3 through March 20, 2026 by appointment only. Appointments are scheduled by 

availability of the Board of Review and granted on a first come, first served basis. Appeals to the Board of Review are 

limited to only those owners who appealed 2026 assessments to the Assessor. 

See other side for guidance regarding the Notice of Assessment, Taxable Valuation, and Property Classification

Dear Assessor, 

We believe the current assessment is incorrect because it does not reflect the property’s true 

market value. Although we purchased the property for $359,900 in 2023, we believe this 

overstates its value due to the building’s condition and the need for repairs at that time. 

The 4-unit building generates $56,069 in gross rental income with $32,902 in operating 

expenses, resulting in a net operating income of $23,167. Using the income approach with a 7–

8% market capitalization rate, the property’s value is approximately $290,000–$310,000, below 

the assessed market value of $358,400. 

Based on the property’s condition, actual income, and expenses, we respectfully request that the 

assessment be adjusted to reflect a more accurate market value. Supporting documentation, 

including leases and the income and expense form, is attached. 

 

Sincerely, 

834 Sherman LLC 

Agent Hunter Pizzo

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