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    Property profile & analytics

    100 Main St Munith, MI 49259

    • Grocery and convenience stores
    • 1,176 SF
    • 0.10 lot acres
    OFF-MARKET
    Last Sale
    Apr 13, 2022
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-1470229
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Grocery and convenience stores

    Property Details for 100 Main St

    Lot size
    0.10 lot acres
    Property size
    1,176 SF
    Zone code
    COM DIS
    Property type
    Grocery and convenience stores
    APN
    088-04-13-234-005-00
    APU
    88041323400500

    Description

    This exceptional industrial property, located at 100 N Main Street in Munith, Michigan, presents a unique investment opportunity. The 1,500 square foot building, formerly the Munith Market, sits on a 0.22-acre lot and offers significant potential for redevelopment or repurposing. Its strategic location benefits from proximity to the bustling M-106 highway, ensuring excellent accessibility and visibility. A key advantage is the property's adjacency to the popular 34-mile Rail-Trail, which opened in 1994 and has since become a significant draw for local businesses and tourism. The trail's resurgence has revitalized the area, mirroring the historical impact of the Grand Trunk Railroad in 1884. This sale is particularly attractive due to the inclusion of two adjacent parcels, identified as ID #088-04-13-234-004-00 and ID #088-04-13-234-006-00, expanding the overall property size and development possibilities. The property is priced at $110,000 and is ready for an ambitious buyer to transform it into a thriving enterprise. This is a chance to capitalize on a prime location with a rich history and a bright future.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Munith
    County
    Jackson
    State
    Michigan
    Longitude
    -84.2508
    Latitude
    42.3909
    CBSA code
    27100
    CBSA name
    JACKSON, MI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $2,095
    $0.00
    $53,300
    $53,300
    -
    $0.00
    $106,600
    $106,600

    Comparable in this City

    • Value Estimation by Request
      5,237 SF

      329 Main St

      GROCERY, SUPERMARKET • 5,237 SF
      329 Main St, Munith, MI 49259-9637
      View Details
    • Value Estimation by Request
      10,304 SF

      9053 Plum Orch Rd

      RETAIL STORES (PERSONAL SERVICES) • 10,304 SF
      9053 Plum Orch Rd, Munith, MI 49259-9805
      View Details
    • Value Estimation by Request
      3,903 SF

      201 Main St

      FINANCIAL BUILDING • 3,903 SF
      201 Main St, Munith, MI 49259-9636
      View Details
    • Value Estimation by Request
      720 SF

      9008 Plum Orch Rd

      RETAIL STORES (PERSONAL SERVICES) • 720 SF
      9008 Plum Orch Rd, Munith, MI 49259-9805
      View Details
    • Value Estimation by Request
      4,630 SF

      9004 Plum Orch Rd

      RESTAURANT • 4,630 SF
      9004 Plum Orch Rd, Munith, MI 49259-9805
      View Details
    • Value Estimation by Request
      2,730 SF

      8987 Plum Orch Rd

      RESTAURANT • 2,730 SF
      8987 Plum Orch Rd, Munith, MI 49259-9745
      View Details
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    100 Main St
    Munith, MI 49259
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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