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Property profile & analytics
OFF-MARKET
Auto shops
2198 Territorial Rd, Benton Harbor, MI 49022-8051
Individually Owned
10-yr Hold
Free & Clear
Property ID
US43-3130049
Property profile
Verified
Property type
Auto shops
Use group
AUTO REPAIR, GARAGE
Year built
1966
Total area
2,072 SF
Lot
0.83 ac (36,155 SF)
Zoning code
SPEC US
APN
03-0016-0051-02-6
UPID
US43-3130049
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
Carl L Varrie · 10 yrs held
Carl L Varrie
since 2016
6 recorded transactions
Zoning & alternative use
SPEC US · Benton Harbor, MI
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 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
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
$1,607
Tax year 2023
Assessed value
$41,400
Assessed 2024
Previous assessed
$40,500
+2.2% YoY
Effective rate
3.88%
On assessed value
Total market value
$82,800
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
Auto shops
Use group
AUTO REPAIR, GARAGE
Status
Off-Market
Year built
1966
Stories
1
Total area
2,072 SF
Lot
0.83 ac (36,155 SF)
Zoning code
SPEC US
APN
03-0016-0051-02-6
UPID
US43-3130049
Jurisdiction
BERRIEN
Zoning & alternative use
SPEC US · Benton Harbor, MI
Zoning SPEC US · permitted uses
SPEC US · 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.
Building & site characteristics
From public records
Year built
1966
Stories
1
Lot
0.83 ac
Current owner
From public records · entity-resolved
Carl L Varrie
Individual
Free & Clear · 10 yrs held
Mailing address
1727 PAW PAW AVE, BENTON HARBOR, MI 49022-2645
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 7, 2016
—
Carl L Varrie
Derrick Aldridge
Fiduciary Deed
—
Feb 26, 2016
—
The Emery M Varrie I Trust
Emery M Varrie
Intrafamily Transfer
related
—
Apr 7, 2010
$50,000
Emery M Varrie
David W Frizzell
Warranty Deed
$40,000 · Chemical Bank
Jul 6, 2009
—
David W Frizzell
Joseph Mikowski
Personal Representative Deed
—
Apr 3, 2009
—
Joseph Mikowski
Thomas Henderson JR
Deed In Lieu Of Foreclosure
related
—
Feb 20, 2007
—
Thomas Henderson JR
Mary M Henderson
Intrafamily Transfer
related
$70,000 · Lydia Frizzell
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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