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Property profile & analytics
OFF-MARKET
Retail space
223 Division St, Freeport, MI 49325-9757
Individually Owned
2-yr Hold
Free & Clear
Property ID
US43-4462567
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1970
Total area
3,588 SF
Lot
0.27 ac (11,892 SF)
Zoning code
C1
APN
08-43-106-003-00
UPID
US43-4462567
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
-
Freeport Milling Department Store
-
ATM Atm
-
Heinz Freeport General Take-out & Catering
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
Brooke Heinz · 2 yrs held
Brooke Heinz
since 2024
Last sale
$70,000
7 recorded transactions
Zoning & alternative use
C1 · Freeport, 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 Freeport submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Freeport 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
$4,526
Tax year 2023
Assessed value
$46,000
Assessed 2024
Previous assessed
$46,000
+0.0% YoY
Effective rate
9.84%
On assessed value
Total market value
$92,000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1970
Heating
FORCED AIR
Buildings
2
Stories
1
Total area
3,588 SF
Lot
0.27 ac (11,892 SF)
Zoning code
C1
APN
08-43-106-003-00
UPID
US43-4462567
Jurisdiction
BARRY
Zoning & alternative use
C1 · Freeport, MI
Zoning C1 · permitted uses
C1 · Freeport, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Freeport. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1970
Heating
FORCED AIR
Stories
1
Buildings
2
Lot
0.27 ac
Current owner
From public records · entity-resolved
Brooke Heinz
Individual
Free & Clear · 2 yrs held
Mailing address
PO BOX 76, FREEPORT, MI 49325-0076
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
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 19, 2024
$70,000
Brooke Heinz
Capricious Ventures LLC
Warranty Deed
—
Mar 19, 2024
—
Capricious Ventures LLC
Wright Family Auto LLC
Quit Claim Deed
related
—
Dec 27, 2023
$15,000
Wright Family Auto LLC
Capricious Ventures LLC
Warranty Deed
—
Oct 15, 2021
$60,000
Capricious Ventures LLC
Jgd Holdings LLC
Warranty Deed
—
Oct 26, 2017
—
Jgd Holdings LLC
Davis,james
Quit Claim Deed
related
—
May 19, 2014
$155,000
James Davis
Freeport Milling Real Estate L
Warranty Deed
$155,000 · Bank Of Holland
Jan 29, 2009
$150,000
Freeport Milling Estate LLC
Decker,james O & Theresa A
Warranty Deed
—
Sep 17, 2008
—
James O Decker
Fighter Roscoe Trust
Quit Claim Deed
related
—
Sep 3, 2008
—
C H Runciman & Co
Karcher,maggie
Warranty Deed
related
—
Aug 18, 2005
—
Decker,james O & Theresa A
Cool,rodney & Dorothy
Grant Deed
related
—
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.
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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