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Property profile & analytics
OFF-MARKET
Estimated value
$710,000
Retail space
10107 Red Arrow Hwy, Bridgman, MI 49106-9385
Entity Owned
3-yr Hold
Free & Clear
Property ID
US43-3991986
Property profile
Verified
Property type
Retail space
Use group
STORE, RETAIL OUTLET
Year built
2014
Total area
8,732 SF
Lot
2.1 ac (91,476 SF)
Zoning code
IG
APN
56-0019-0106-05-6
UPID
US43-3991986
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
Current use
Occupant on record · Public records
-
Hannapel Hardware & Home Improvement Furniture & Home Goods
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$688k
Blend (final)
Blend
$710k
Owner & transaction history
Narrow Gate Properties Of Michigan · 3 yrs held
Narrow Gate Properties Of Michigan
since 2023
Last sale
$730,000
2 recorded transactions
Zoning & alternative use
IG · Bridgman, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.1M
+67.3%
Office building
$895,000
+41.7%
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 Bridgman submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Bridgman 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
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$635,000
Current use
COMMERCIAL (GENERAL)
$1,060,000
Change: +67% · Conversion: Easy
OFFICE BUILDING
$895,000
Change: +42% · Conversion: Easy
AUTO REPAIR, GARAGE
$545,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$710k
Range $639k – $781k · ±10% · vs last sale $730k (May 30 2023)
Last sale anchor
$730k
May 30 2023
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$81 / SF
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
$9,867
Tax year 2023
Assessed value
$268,500
Assessed 2024
Previous assessed
$263,200
+2.0% YoY
Effective rate
3.67%
On assessed value
Total market value
$537,000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Retail space
Use group
STORE, RETAIL OUTLET
Status
Off-Market
Year built
2014
Stories
1
Total area
8,732 SF
Lot
2.1 ac (91,476 SF)
Zoning code
IG
APN
56-0019-0106-05-6
UPID
US43-3991986
Jurisdiction
BERRIEN
Zoning & alternative use
IG · Bridgman, MI
Zoning IG · permitted uses
IG · Bridgman, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Bridgman. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$635,000
COMMERCIAL (GENERAL)
Est. value
$1.1M
OFFICE BUILDING
Est. value
$895,000
AUTO REPAIR, GARAGE
Est. value
$545,000
RETAIL STORES Current
COMMERCIAL (GENERAL)
OFFICE BUILDING
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2014
Stories
1
Lot
2.1 ac
Current owner
From public records · entity-resolved
Narrow Gate Properties Of Michigan
Entity
Free & Clear · 3 yrs held
Mailing address
370 N 9TH ST, KALAMAZOO, MI 49009-5884
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 30, 2023
$730,000
Narrow Gate Properties Of Michigan
James A Zielke
Warranty Deed
—
Feb 23, 2015
—
James A Zielke & Lisa J Zielke Revo
James A Zielke
Intrafamily Transfer
related
—
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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