New search
Property profile & analytics
OFF-MARKET
Estimated value
$6,335,000
Retail space
1300 Mall Dr, Benton Harbor, MI 49022-2312
Entity Owned
12-yr Hold
Free & Clear
Property ID
US43-3903841
Property profile
Verified
Property type
Retail space
Use group
STORE, RETAIL OUTLET
Year built
1994
Total area
126,127 SF
Lot
11.84 ac (515,750 SF)
Zoning code
D1 COMM
APN
03-0032-0009-61-7
UPID
US43-3903841
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
-
Lowe's Home Improvement Building Supply Hardware & Home Improvement
-
Lowe's Garden Center Garden Center
-
Minute Key Locksmith (Bike/Boat/Book/etc) Store
-
Lowe's ProServices Building Supply Industrial Manufacturer
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$6.33M
Blend (final)
Blend
$6.34M
Owner & transaction history
Cole Lo Benton Harbor Mi LLC · 12 yrs held
Cole Lo Benton Harbor Mi LLC
since 2014
1 recorded transaction
Zoning & alternative use
D1 COMM · Benton Harbor, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$7.9M
+12.3%
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 Benton Harbor submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Benton Harbor 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
$6,990,000
Current use
AUTO REPAIR, GARAGE
$7,855,000
Change: +12% · Conversion: Difficult
Blend value · Realmo final
$6.34M
Range $5.70M – $6.97M · ±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
$50 / 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
$109,571
Tax year 2023
Assessed value
$2,861,900
Assessed 2024
Previous assessed
$2,787,500
+2.7% YoY
Effective rate
3.83%
On assessed value
Total market value
$5,723,800
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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
1994
Stories
1
Total area
126,127 SF
Lot
11.84 ac (515,750 SF)
Zoning code
D1 COMM
APN
03-0032-0009-61-7
UPID
US43-3903841
Jurisdiction
BERRIEN
Zoning & alternative use
D1 COMM · Benton Harbor, MI
Zoning D1 COMM · permitted uses
D1 COMM · Benton Harbor, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Benton Harbor. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$7.0M
AUTO REPAIR, GARAGE
Est. value
$7.9M
RETAIL STORES Current
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
1994
Stories
1
Lot
11.84 ac
Current owner
From public records · entity-resolved
Cole Lo Benton Harbor Mi LLC
Entity
Free & Clear · 12 yrs held
Mailing address
2325 E CAMELBACK RD STE #1100, PHOENIX, AZ 85016-9078
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 30, 2014
$10,290,000
Cole Lo Benton Harbor Mi LLC
American Capital Corporation
Deed
—
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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