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Property profile & analytics
OFF-MARKET
Estimated value
$515,000
Outlet malls
108 Elizabeth St, Eaton Rapids, MI 48827-1816
Entity Owned
20-yr Hold
~
Est. High Equity
Property ID
US43-2045066
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Total area
23,148 SF
Lot
0.37 ac (16,117 SF)
Zoning code
GBD
APN
300 068 601 130 00
UPID
US43-2045066
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
-
UPS Authorized Shipping Provider Courier Service Postal Service
-
Ace Hardware & Lumber Building Supply Hardware & Home Improvement
-
First Class Garage Door Repair Building Supply General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$514k
Blend (final)
Blend
$515k
Owner & transaction history
Phillips River City Properties LLC · 20 yrs held
Phillips River City Properties LLC
since 2005
4 recorded transactions
Zoning & alternative use
GBD · Eaton Rapids, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Eaton Rapids submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Eaton Rapids 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
Blend value · Realmo final
$515k
Range $464k – $567k · ±10%
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
$22 / 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
$12,552
Tax year 2023
Assessed value
$236,000
Assessed 2024
Previous assessed
$223,100
+5.8% YoY
Effective rate
5.32%
On assessed value
Total market value
$472,000
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Heating
FORCED AIR
Stories
1
Total area
23,148 SF
Lot
0.37 ac (16,117 SF)
Zoning code
GBD
APN
300 068 601 130 00
UPID
US43-2045066
Jurisdiction
EATON
Zoning & alternative use
GBD · Eaton Rapids, MI
Zoning GBD · permitted uses
GBD · Eaton Rapids, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Eaton Rapids. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Heating
FORCED AIR
Stories
1
Lot
0.37 ac
Current owner
From public records · entity-resolved
Phillips River City Properties LLC
Entity
Mailing address
132 HALL ST, EATON RAPIDS, MI 48827-1212
Ownership since
2005
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 6, 2026
—
Philips River City Properties LLC
—
Deed
related
$75,000 · Eaton Community Bank
Aug 25, 2017
—
Phillips River City Properties LLC
—
Deed
related
$277,895 · Lake Trust Cu
Dec 1, 2005
$360,000
Phillips River City Properties LLC
Rapids Lumber Co
Warranty Deed
$375,000 · Mercantile Bank Mortgage Company Ll
Dec 1, 2005
—
Rapids Lumber Co
Donavan E Hayhoe
Quit Claim Deed
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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