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Property profile & analytics
OFF-MARKET
Warehouses
152 Ml District Rd, Allegan, MI 49010-1323
Entity Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US43-4390421
Property summary
AI-generated overview
This 1.95-acre commercial and residential lot, located at 152 Mill District Road in Allegan, Michigan (49010), is offered for $199,000. The property, identified by APN 51-205-060-00, is zoned C-1, permitting mixed-use commercial and residential development. The land value is $2.34 per square foot. This site is approved for a marijuana provisioning center or microbusiness and presents significant opportunities for large-scale redevelopment. Potential uses include assisted/senior living, affordable/workforce/market-rate housing. The City of Allegan recently completed a major street resurfacing project, enhancing the area's infrastructure. An adjacent parcel is also available, potentially expanding development capacity to 120,000 square feet. Numerous local and state incentives are available to support development projects. This property is part of the Mill District Redevelopment Project.
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Total area
36,469 SF
Lot
1.08 ac (47,045 SF)
APN
51-205-060-00
UPID
US43-4390421
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
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
Allegan Old Mill Properties LLC · 1 yrs held
Allegan Old Mill Properties LLC
since 2024
Last sale
$65,000
2 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 Allegan submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Allegan 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
$2,231
Tax year 2023
Assessed value
$36,100
Assessed 2024
Previous assessed
$36,100
+0.0% YoY
Effective rate
6.18%
On assessed value
Assessed land
$21,100
Assessed improvement
$15,000
Land market value
$42,200
Improvement market value
$30,000
Total market value
$72,200
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Heating
FORCED AIR
Buildings
5
Stories
2
Total area
36,469 SF
Lot
1.08 ac (47,045 SF)
APN
51-205-060-00
UPID
US43-4390421
Jurisdiction
ALLEGAN
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
FORCED AIR
Stories
2
Buildings
5
Lot
1.08 ac
Current owner
From public records · entity-resolved
Allegan Old Mill Properties LLC
Entity
Free & Clear · 1 yrs held
Mailing address
148 ML DISTRICT RD SE, ALLEGAN, MI 49010-1323
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
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
Sep 5, 2024
$65,000
Allegan Old Mill Properties LLC
Cbm&n LLC
Warranty Deed
—
Oct 24, 2006
$40,000
Joseph H Leverence
Cbm & N LLC
Warranty 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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