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Property profile & analytics
OFF-MARKET
Commercial real estate
117 State St, Colon, MI 49040-9362
Entity Owned
4-yr Hold
Free & Clear
Property ID
US43-1958546
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Lot
0.08 ac (3,485 SF)
APN
041-180-018-00
UPID
US43-1958546
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
-
Berkshire Hathaway HomeServices Michigan Real Estate Real Estate Agency
-
Annie Eymer Real Estate Agent Real Estate Agency
-
Berkshire Hathaway HomeServices Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Re On State LLC · 4 yrs held
Re On State LLC
since 2022
Last sale
$45,000
7 recorded transactions
Zoning & alternative use
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 Colon submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Colon 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$1,548
Tax year 2023
Assessed value
$32,000
Assessed 2024
Previous assessed
$33,400
-4.2% YoY
Effective rate
4.84%
On assessed value
Assessed land
$6,800
Assessed improvement
$25,200
Land market value
$13,600
Improvement market value
$50,400
Total market value
$64,000
Applied tax rate
41.0000
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Heating
NONE
Lot
0.08 ac (3,485 SF)
APN
041-180-018-00
UPID
US43-1958546
Jurisdiction
ST JOSEPH
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Heating
NONE
Lot
0.08 ac
Current owner
From public records · entity-resolved
Re On State LLC
Entity
Free & Clear · 4 yrs held
Mailing address
PO BOX 464, COLON, MI 49040-0464
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 14, 2022
$45,000
Re On State LLC
Duane Laflin
Warranty Deed
—
May 1, 2020
$34,000
Duane Laflin
David Reeb
Warranty Deed
$36,000 · Sturgis Bank & Trust Co
May 1, 2020
—
Duane Laflin
David Reeb
Warranty Deed
$36,000 · Sturgis Bank & Trust Co
Oct 23, 2018
$45,000
David Reeb
Garrett Hall
Warranty Deed
$33,750 · Southern Michigan Bank & Trust
Jul 18, 2013
$30,000
Garrett Hall
H & S Properties LLC
Warranty Deed
$30,000 · Southern Michigan Bank & Trust
Apr 4, 2012
$39,900
H & S Properties LLC
Land Holdings LLC
Quit Claim Deed
related
—
Dec 10, 2010
—
Land Holdings LLC
Independent Bank
Quit Claim Deed
related
—
Jun 11, 2010
$29,811
Independent Bank
Betty R Priest
Sheriffs Deed
related
—
Feb 15, 2005
$35,000
Dennis Priest
Gregory W Bordner
Warranty Deed
$34,000 · Independent Bank South Michigan
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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