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Property profile & analytics
OFF-MARKET
Estimated value
$1,685,000
Warehouses
216 St Peters Dr, Douglas, MI 49406-5117
Entity Owned
4-yr Hold
Free & Clear
Property ID
US43-2679640
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Total area
15,128 SF
Lot
4.42 ac (192,492 SF)
APN
59-016-029-00
UPID
US43-2679640
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
-
Andersen Boat Works (Bike/Boat/Book/etc) Store Production Facility
-
Safe Harbor Tower Marine Marina Boat Repair Shop
-
SeaSun Sail Sailing Club
-
Freedom Boat Club - Saugatuck Boat Club
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.19M
Blend (final)
Blend
$1.69M
Owner & transaction history
Shm Tower Marine LLC · 4 yrs held
Shm Tower Marine LLC
since 2022
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.9M
+28.6%
Restaurant
$1.7M
+10.7%
Commercial (general)
$1.6M
+10.2%
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 Douglas submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Douglas 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
WAREHOUSE, STORAGE
$1,490,000
Current use
RETAIL STORES
$1,915,000
Change: +29% · Conversion: Moderate
RESTAURANT
$1,650,000
Change: +11% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,640,000
Change: +10% · Conversion: Difficult
OFFICE BUILDING
$1,470,000
Change: -1% · Conversion: Difficult
Blend value · Realmo final
$1.69M
Range $1.52M – $1.85M · ±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
$111 / 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
Assessed value
$2,101,700
Assessed 2024
Previous assessed
$1,840,500
+14.2% YoY
Assessed land
$1,067,500
Assessed improvement
$1,034,200
Land market value
$2,135,000
Improvement market value
$2,068,400
Total market value
$4,203,400
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
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Heating
FORCED AIR
Buildings
5
Stories
1
Total area
15,128 SF
Lot
4.42 ac (192,492 SF)
APN
59-016-029-00
UPID
US43-2679640
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
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$1.5M
RETAIL STORES
Est. value
$1.9M
RESTAURANT
Est. value
$1.7M
COMMERCIAL (GENERAL)
Est. value
$1.6M
OFFICE BUILDING
Est. value
$1.5M
WAREHOUSE, STORAGE Current
RETAIL STORES
RESTAURANT
COMMERCIAL (GENERAL)
OFFICE BUILDING
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
Heating
FORCED AIR
Stories
1
Buildings
5
Lot
4.42 ac
Current owner
From public records · entity-resolved
Shm Tower Marine LLC
Entity
Free & Clear · 4 yrs held
Mailing address
14785 PRESTON RD STE #975, DALLAS, TX 75254-6878
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 24, 2022
—
Shm Tower Marine LLC
Kalamazoo Ferry Company
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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