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Property profile & analytics
FOR SALE
Individual retail properties
227 E Michigan Ave, Marshall, MI 49068
Entity Owned
1-yr Hold
Free & Clear
Property ID
US43-2199630
For Sale
1 / 37
$585,000
227 E Michigan Ave, Marshall, MI 49068
View Listing →
Property profile
Verified
Property type
Individual retail properties
Use group
DRY CLEANER
Year built
1900
Total area
5,150 SF
Lot
0.12 ac (5,053 SF)
Zoning code
B-3 CEN
APN
53-000-542-00
UPID
US43-2199630
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
-
Heritage Cleaners (Bike/Boat/Book/etc) Store
-
Marshall Framing Studio (Bike/Boat/Book/etc) Store Home Decor Store
-
Heritage Management Co Business Management Consultant
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
Marshall Framing Studio LLC · 1 yrs held
Marshall Framing Studio LLC
since 2025
3 recorded transactions
Zoning & alternative use
B-3 CEN · Marshall, 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 Marshall submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Marshall 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 2022Property tax & assessments
Tax year 2022
Tax billed
$7,542
Tax year 2022
Assessed value
$144,600
Assessed 2024
Previous assessed
$148,000
-2.3% YoY
Effective rate
5.22%
On assessed value
Total market value
$289,200
Applied tax rate
13,110.0000
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
Individual retail properties
Use group
DRY CLEANER
Status
For Sale
Year built
1900
Heating
FORCED AIR
Cooling
YES
Total area
5,150 SF
Lot
0.12 ac (5,053 SF)
Zoning code
B-3 CEN
APN
53-000-542-00
UPID
US43-2199630
Jurisdiction
CALHOUN
Zoning & alternative use
B-3 CEN · Marshall, MI
Zoning B-3 CEN · permitted uses
B-3 CEN · Marshall, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Marshall. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1900
Heating
FORCED AIR
Cooling
Yes
Lot
0.12 ac
Current owner
From public records · entity-resolved
Marshall Framing Studio LLC
Entity
Free & Clear · 1 yrs held
Mailing address
PO BOX 70, MARSHALL, MI 49068-0070
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2025
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
Apr 1, 2025
—
Marshall Framing Studio LLC
Patrice A Marquardt
Quitclaim Deed
related
—
Nov 18, 2010
—
Heritage Calhoun Properties L L C
Heritage Cleaners L L C
Quit Claim Deed
related
—
Aug 18, 2008
$290,000
Heritage Cleaners LLC
Sue Ann Schnaitman
Warranty Deed
$240,000 · Chemical Bank
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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