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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    24039 Red Arrow Hwy Mattawan, MI 49071-7760

    • Grocery and convenience stores
    • 2,976 SF
    • 1.90 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-2147773
    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.

    Current Use by Public Records

    • Citgo / Gas Station
    • PRI MART / Gas Station
    • Chemical Bank / Atm
    • ATM (Pri Mart Quik Shop) / Atm

    Property Details for 24039 Red Arrow Hwy

    Year built
    1996
    Lot size
    1.90 lot acres
    Property size
    2,976 SF
    Zone code
    GC
    Property type
    Grocery and convenience stores
    APN
    80-02-002-013-70
    APU
    800200201370

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Mattawan
    County
    Van Buren
    State
    Michigan
    Longitude
    -85.7861
    Latitude
    42.2368
    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
    $13,822
    $0.00
    $0.00
    $229,500
    -
    $0.00
    $0.00
    $459,000

    Comparable in this City

    • Value Estimation
      $575,000
      3,440 SF

      54312 Main St

      GROCERY, SUPERMARKET • 3,440 SF
      54312 Main St, Mattawan, MI 49071-9324
      View Details
    • Value Estimation
      $680,000
      7,112 SF

      24182 Red Arrow Hwy

      GROCERY, SUPERMARKET • 7,112 SF
      24182 Red Arrow Hwy, Mattawan, MI 49071-9769
      View Details
    • Value Estimation
      $1,395,000
      18,087 SF

      24064 Mcgillen Ave

      GROCERY, SUPERMARKET • 18,087 SF
      24064 Mcgillen Ave, Mattawan, MI 49071-9303
      View Details
    • Value Estimation by Request
      4,896 SF

      Mattawan, MI 49071

      CONVENIENCE STORE • 4,896 SF
      Mattawan, MI 49071
      View Details
    • Value Estimation by Request
      3,392 SF

      25142 Red Arrow Hwy

      CONVENIENCE STORE • 3,392 SF
      25142 Red Arrow Hwy, Mattawan, MI 49071-7755
      View Details
    • Value Estimation by Request
      2,640 SF

      652 Cr

      STORE, RETAIL OUTLET • 2,640 SF
      652 Cr, Mattawan, MI 49071
      View Details

    Similar Nearby for Sale

    • $879,900
      3,821 SF

      Commercially Zoned Corner Lot

      4.3 acre commercially zoned lot with high traffic and visibility.
      23985 Red Arrow Hwy, Mattawan, MI 49071
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    • $50,000
      2.14 Acres

      Mattawan Commercial Land Investment

      2 Acres, Retail Potential, $50,000
      23901/2387 Village Center Cir, Mattawan, MI 49071
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    • $879,900

      High-Traffic Commercial Corner Lot

      4.3 acre commercially zoned lot with office, house, and barn.
      23985 Red Arrow Hwy, Mattawan, MI 49071
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    • $389,900
      2,914 SF

      High-Traffic Commercial Site with Home

      2.5-acre Mattawan site with home, barn, and business potential.
      50247 Cr 652, Mattawan, MI 49071
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    • $489,000
      0.62 Acres

      Prime Mattawan Commercial Property

      High-traffic corner lot, 921 sq ft.
      23913 Red Arrow Hwy, Mattawan, MI 49071
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    • $479,000
      1.78 Acres

      Prime Corner Commercial Land Available

      High-visibility corner lot in Mattawan's commercial overlay district.
      23913 Red Arrow Hwy, Mattawan, MI 49071
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    Similar Nearby for Lease

    • $3,600 /Mo
      4,214 SF

      Mattawan Commercial Space For Rent

      Flexible 4,100 SF space on a busy commercial corridor.
      52364 N Main St, Mattawan, MI 49071
      View Details
    • $14 SF/Yr
      3,050 SF

      Retail Space in Mattawan, MI

      3,050 SF retail suite available in fast-growing Mattawan.
      23950 City Center Cir, Mattawan, MI 49071
      View Details
    • $16 SF/Yr
      1,600 SF

      Retail Space in Mattawan

      Available retail suite with open layout and high visibility.
      23950 City Center Cir, Mattawan, MI 49071
      View Details
    • $16 SF/Yr
      1,450 SF

      Retail Space in Mattawan

      Available retail suite in a fast-growing Mattawan development.
      23950 City Center Cir, Mattawan, MI 49071
      View Details
    • $3,600 /Mo

      Mattawan Commercial Space For Rent

      Flexible 4,100 SF space on a busy commercial corridor.
      52364 N Main St, Mattawan, MI 49071
      View Details
    • $14 SF/Yr
      9,629 SF

      Mattawan Office Suite Available

      Turnkey office space, high visibility.
      23910 City Center Cir, Mattawan, MI 49071
      View Details
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    24039 Red Arrow Hwy
    Mattawan, MI 49071-7760
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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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