Entity Owned 
For Sale
1 / 6
$599,000
1367 Portage St, Kalamazoo, MI 49001
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Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
1992
Total area
10,521 SF
Lot
0.77 ac (33,541 SF)
Zoning code
CC
APN
06-23-350-200
UPID
US43-2571369
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.12M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$850k
Owner & transaction history
since 2022
Last sale
$850,000
2 recorded transactions
Zoning & alternative use
CC · Kalamazoo, MI
Zoning description
CC - Commercial, Community CCBD - Commercial Central Business CBTR - Commercial, Business, Technology and Research 2022-06-15 All commercial zoning district names begin with the letter "C," which is a short-hand referenc…
General category
MIXED_USE
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
17% off on annual
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
Sensitivity value band
Source audit · 6 inputs
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$850k
Value range
$765k – $935k
±10% around blend
Estimated value / SF
$81 / SF
Confidence
Property data
75
Comparable evidence
60
Income certainty
100
$765k
blend $850k
$935k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
10,521 SF
Lot area
0.77 ac
Year built
1992
APN
06-23-350-200
Zoning
CC
Assessed value
$327,800
3
Income approach: direct capitalization
Partial preview
Income approach indication
$1.12M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$1.21M
@ 6.5% CAP return
$1.12M
@ 7% CAP return
$1.04M
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Selected cap rate
4
Sales comparison
Partial preview
Too few qualifying comparables for a sales-approach estimation.
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$850k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Data & methodology
Included free
Building area
County record
Property tax
Not available
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Market benchmark
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
NOI build-up · 9 steps
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
Selected market yield
8.50%
Selected cap rate for this outlet malls
Derived from the Kalamazoo market rent, vacancy and expense benchmarks for this use type.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 8.50%
9.0%
NOI (est.)
$42k *
Last sale · Feb 2022
$850k
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$495k
Move the market yield to see immediate price impact.
Value / SF
$47
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
8.00%8.50%9.00%
$38k
$474k
$446k
$421k
$42k
$526k
$495k
$468k
$46k
$579k
$545k
$514k
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Property tax & assessments
Tax year 2021Property tax & assessments
Tax year 2021
Assessed value
$327,800
Assessed 2024
Previous assessed
$278,800
+17.6% YoY
Total market value
$655,600
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
For Sale
Year built
1992
Buildings
2
Total area
10,521 SF
Lot
0.77 ac (33,541 SF)
Zoning code
CC
APN
06-23-350-200
UPID
US43-2571369
Jurisdiction
KALAMAZOO
Zoning & alternative use
CC · Kalamazoo, MIZoning CC · permitted uses
CC · Kalamazoo, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Zoning description
CC - Commercial, Community CCBD - Commercial Central Business CBTR - Commercial, Business, Technology and Research 2022-06-15 All commercial zoning district names begin with the letter "C," which is a short-hand referenc…
General category
MIXED_USE
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1992
Buildings
2
Lot
0.77 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Matched to the official district catalog
CC
MIXED_USE
Jurisdiction
Kalamazoo, MI
Recorded code
CC
Official district
CC
Official district profile
What the municipal code says about CC
Zoning description
CC - Commercial, Community CCBD - Commercial Central Business CBTR - Commercial, Business, Technology and Research 2022-06-15 All commercial zoning district names begin with the letter "C," which is a short-hand referenc…
General category
MIXED_USE
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for CC in Kalamazoo, MI.
What opens after registration
Zoning profile
Official descriptionThe district text from the municipal code
District factsZone name, category and district area
3 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
One complete report on every paid plan · 5 · 30 · 100 reports per month.
Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 5 · 30 · 100 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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