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Property profile & analytics
OFF-MARKET
Estimated value
$150,000
Drive through restaurants
305 Main St Watervliet, MI 49098-9608
Entity Owned
11-yr Hold
Free & Clear
Property ID
US43-3129257
Property profile
Verified
Property type
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Total area
2,036 SF
Lot
0.13 ac (5,663 SF)
Zoning code
B-1
APN
78-0340-0016-00-0
UPID
US43-3129257
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
-
Saylor's Main Street Pizzeria Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$150k
Owner & transaction history
G S Jenkins LLC · 11 yrs held
G S Jenkins LLC
since 2015
2 recorded transactions
Zoning & alternative use
B-1 · Watervliet, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The B-1 district is established to provide areas for a wide range of retail stores and personal service establishments which are desirable to provide for both day-to-day and occasional shopping needs.
Zone name
General Business
General category
COMMERCIAL
Zone area
43.50 ac
Source
Realmo
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 Watervliet submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Watervliet 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
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$150k
Range $135k – $165k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$74 / SF
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
$3,550
Tax year 2023
Assessed value
$64,600
Assessed 2024
Previous assessed
$59,600
+8.4% YoY
Effective rate
5.50%
On assessed value
Total market value
$129,200
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
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Status
Off-Market
Stories
1
Total area
2,036 SF
Lot
0.13 ac (5,663 SF)
Zoning code
B-1
APN
78-0340-0016-00-0
UPID
US43-3129257
Jurisdiction
BERRIEN
Zoning & alternative use
B-1 · Watervliet, MIZoning B-1 · permitted uses
B-1 · Watervliet, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The B-1 district is established to provide areas for a wide range of retail stores and personal service establishments which are desirable to provide for both day-to-day and occasional shopping needs.
Zone name
General Business
General category
COMMERCIAL
Zone area
43.50 ac
Source
Realmo
Building & site characteristics
From public records
Stories
1
Lot
0.13 ac
Current owner
From public records · entity-resolved
G S Jenkins LLC
Entity
Free & Clear · 11 yrs held
Mailing address
64800 TERRITORIAL RD W, HARTFORD, MI 49057-8619
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 14, 2015
$80,000
G S Jenkins LLC
Robert W Wallace
Warranty Deed
—
Jan 21, 2014
—
G S Jenkins LLC
Robert W Wallace
Land Contract
—
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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