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    237 Broadway St South Haven, MI 49090-1453
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    Property profile & analytics

    237 Broadway St, South Haven, MI 49090-1453

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    • Individual retail properties
    • 17,070 SF
    Off-Market
    Last Sale Oct 7, 2020
    Property ID
    US43-4940983
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • CrossFit Current / Gym & Fitness Center
    • Los Ranchos / Restaurant
    • Roberta A. Otto CPA PLC / Accounting Firm
    • CrossFit South Haven / Gym & Fitness Center
    • Sparkle & Spice Boutique / Event Planning / Party Supply Store

    Property Details for 237 Broadway St

    Year built
    1959
    Zone code
    B-2
    Property type
    Individual retail properties
    APN
    80-53-996-001-29
    APU
    805399600129

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    South Haven
    County
    Van Buren
    State
    Michigan
    Longitude
    -86.2705
    Latitude
    42.4051
    CBSA code
    28020
    CBSA name
    KALAMAZOO-PORTAGE, MI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2020
    $10,426
    $0.00
    $0.00
    $512,000
    -
    $0.00
    $0.00
    $1,024,000

    Comparable in this City

    • Value Estimation
      $850,000
      4,579 SF

      410 Phoenix St

      GYM, HEALTH SPA
      410 Phoenix St, South Haven, MI 49090-1310
      View Details
    • Value Estimation
      $850,000
      7,652 SF

      352 Blue Star Hwy

      LAUNDROMAT (SELF-SERVICE)
      352 Blue Star Hwy, South Haven, MI 49090-7102
      View Details
    • Value Estimation by Request
      3,520 SF

      18040 M 140

      STORE, RETAIL OUTLET
      18040 M 140, South Haven, MI 49090-8964
      View Details
    • Value Estimation by Request
      2,516 SF

      8253 M 140

      FINANCIAL BUILDING
      8253 M 140, South Haven, MI 49090-1969
      View Details
    • Value Estimation by Request
      2,240 SF

      9400 M 140

      RETAIL STORES (PERSONAL SERVICES)
      9400 M 140, South Haven, MI 49090-2902
      View Details
    • Value Estimation by Request
      507 SF

      425 Williams St, Unit 58

      RETAIL STORES (PERSONAL SERVICES)
      425 Williams St, South Haven, MI 49090-2514
      View Details

    Similar Nearby for Sale

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      South Haven Commercial Property Available

      Prime commercial property with warehouse and storefront in South Haven.
      380 73Rd St, South Haven, MI 49090
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    • $1,800,000
      4,000 SF

      Retail Space in South Haven

      Retail space available for sale in South Haven, Michigan.
      261 73Rd St, South Haven, MI 49090
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    • $189,900
      3,491 SF

      South Haven Commercial Unit For Sale

      Versatile 3,491 SF commercial unit in high-traffic location.
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    Similar Nearby for Lease

    • Contact for pricing
      2,967 SF

      Retail Space in South Haven

      Retail space available for lease in South Haven, Michigan.
      359-363 Broadway St, South Haven, MI 49090
      View Details
    • $8 SF/Yr
      7,500 SF

      South Haven Retail Space Available

      Retail spaces in growing South Haven location, from 2,000-7,500 SF.
      1675 Phoenix St, South Haven, MI 49090
      View Details
    • Contact for pricing

      Prime Retail Space in South Haven

      High-visibility retail space with ample parking and customizable layout.
      359 Broadway St, South Haven, MI 49090
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      South Haven Retail Space Available

      Retail spaces available in growing South Haven shopping center.
      1675 Phoenix St, South Haven, MI 49090
      View Details
    • $5 SF/Yr
      164 SF

      South Haven Office Space Available

      Office space for rent near downtown South Haven, Michigan.
      510 Williams St, South Haven, MI 49090
      View Details
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    237 Broadway St
    South Haven, MI 49090-1453
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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