Using Michaelis–Menten equation:
\[
v = \frac{V_{\max} [S]}{K_m + [S]}
\]
Given:
\[
v = \frac{V_{\max}}{4}
\]
Thus,
\[
\frac{1}{4} = \frac{[S]}{K_m + [S]}
\]
Cross-multiplying:
\[
K_m + [S] = 4[S]
\]
\[
3[S] = K_m
\]
\[
[S] = \frac{K_m}{3} = \frac{0.005}{3} = 0.00167\,M
\]
Convert to mM:
\[
0.00167 \times 1000 = 1.67\ \text{mM}
\]