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Property profile & analytics
OFF-MARKET
Estimated value
$510,000
Turn key restaurants
1600 Ave A A, Springfield, MI 49037-7612
Entity Owned
3-yr Hold
Free & Clear
Property ID
US43-0466659
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1968
Total area
5,996 SF
Lot
63.4 ac (2,761,704 SF)
Zoning code
R-1
APN
54-004-049-00
UPID
US43-0466659
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
$521k
Blend (final)
Blend
$510k
Owner & transaction history
Allegan Lager Company LLC · 3 yrs held
Allegan Lager Company LLC
since 2023
Last sale
$466,000
3 recorded transactions
Zoning & alternative use
R-1 · Springfield, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$755,000
+51.7%
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 Springfield submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Springfield 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
$585,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$500,000
Current use
COMMERCIAL (GENERAL)
$755,000
Change: +52% · Conversion: Easy
OFFICE BUILDING
$440,000
Change: -11% · Conversion: Moderate
AUTO REPAIR, GARAGE
$405,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$510k
Range $459k – $561k · ±10% · vs last sale $466k (Jan 10 2023)
Last sale anchor
$466k
Jan 10 2023
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
$85 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$12,439
Tax year 2022
Assessed value
$247,812
Assessed 2024
Previous assessed
$226,315
+9.5% YoY
Effective rate
5.02%
On assessed value
Total market value
$495,624
Applied tax rate
13,020.0000
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1968
Heating
FORCED AIR
Stories
1
Total area
5,996 SF
Lot
63.4 ac (2,761,704 SF)
Zoning code
R-1
APN
54-004-049-00
UPID
US43-0466659
Jurisdiction
CALHOUN
Zoning & alternative use
R-1 · Springfield, MI
Zoning R-1 · permitted uses
R-1 · Springfield, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Springfield. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT Current
Est. value
$500,000
COMMERCIAL (GENERAL)
Est. value
$755,000
OFFICE BUILDING
Est. value
$440,000
AUTO REPAIR, GARAGE
Est. value
$405,000
RESTAURANT Current
COMMERCIAL (GENERAL)
OFFICE BUILDING
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
1968
Heating
FORCED AIR
Stories
1
Lot
63.4 ac
Current owner
From public records · entity-resolved
Allegan Lager Company LLC
Entity
Free & Clear · 3 yrs held
Mailing address
PO BOX 1637, BATTLE CREEK, MI 49016-1637
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 10, 2023
$466,000
Allegan Lager Company LLC
Craft Bar Golf LLC
Warranty Deed
—
Jan 10, 2023
$408,000
Craft Bar Golf LLC
Avenue A Holdings INC
Deed
—
Sep 12, 2017
—
Craft Bar Golf LLC
Avenue A Holdings INC
Contract Sale
—
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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