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    320 Park St Coloma, MI 49038
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    320 Park St, Coloma, MI 49038

    View on Map
    • Warehouses
    • 27,957 SF
    • 3.02 lot acres
    For Sale
    $549,000
    View Listing →
    Coloma Commercial Building with Expansion For Sale
    $549,000
    25,500 SF

    Coloma Commercial Building with Expansion

    25,500 SF commercial building on 4.39 acres near I-94.

    320 Park Street, Coloma, MI 49038
    View Listing
    Property ID
    US43-3515641
    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

    • DP Polishing LLC / Production Facility
    • M & M Polishing Inc. / Factory / Production Facility
    • Michigan Mold / Factory / Production Facility

    Property Details for 320 Park St

    Year built
    1950
    Lot size
    3.02 lot acres
    Property type
    Warehouses
    APN
    60-0020-0044-00-0
    APU
    6000200044000

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Mar 11, 2021 $300,000 Mae Alexander Holdings LLC Larry & Rosanne Bittner LLC Warranty Deed $240k · Numark Cu
    Nov 9, 2018 $316,053 Larry And Rosanne Bittner LLC Brian And Edna Bittner LLC Sheriffs Deed · related —
    Jan 21, 2014 $187,000 Brian & Edna Bittner LLC Larry & Rosanne Bittner LLC Warranty Deed —
    Apr 12, 2010 $125,000 Larry & Rosanne Bittner LLC Michigan Mold INC Corporation Deed —

    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
    Coloma
    County
    Berrien
    State
    Michigan
    Longitude
    -86.3115
    Latitude
    42.1897
    CBSA code
    35660
    CBSA name
    NILES-BENTON HARBOR, 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
    2023
    $8,645
    $0.00
    $0.00
    $199,900
    -
    $0.00
    $0.00
    $399,800

    Comparable in this City

    • Value Estimation by Request
      2,400 SF

      132 Washington St

      WAREHOUSE, STORAGE
      132 Washington St, Coloma, MI 49038-9013
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    • Value Estimation by Request
      4,200 SF

      St Joseph St

      WAREHOUSE, STORAGE
      St Joseph St, Coloma, MI 49038
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    • Value Estimation by Request
      9,330 SF

      157 Saint Joseph St

      WAREHOUSE, STORAGE
      157 Saint Joseph St, Coloma, MI 49038-9794
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    • Value Estimation by Request
      8,000 SF

      6920 Red Arrow Hwy

      MINI-WAREHOUSE, STORAGE
      6920 Red Arrow Hwy, Coloma, MI 49038-8719
      View Details
    • Value Estimation by Request
      1,350 SF

      Paw Paw St

      WAREHOUSE, STORAGE
      Paw Paw St, Coloma, MI 49038
      View Details
    • Value Estimation by Request
      4,860 SF

      153 Saint Joseph St

      WAREHOUSE, STORAGE
      153 Saint Joseph St, Coloma, MI 49038-9707
      View Details

    Similar Nearby for Sale

    • $549,000
      25,500 SF

      Coloma Commercial Building with Expansion

      25,500 SF commercial building on 4.39 acres near I-94.
      320 Park St, Coloma, MI 49038
      View Details
    • $189,000
      7,360 SF

      Industrial Building with Storage

      7300+ SF industrial building in Coloma, Michigan for sale.
      140 Baker St, Coloma, MI 49038
      View Details
    • $549,000

      Coloma Industrial Building with Expansion

      25,500 SF industrial building on 4.39 acres for sale.
      320 Park St, Coloma, MI 49038
      View Details
    • $647,000
      648 SF

      Redevelopment Opportunity Near Paw Paw Lake

      Historic property with redevelopment potential, cottage, and lake views.
      5575 Paw Paw Lake Rd, Coloma, MI 49038
      View Details
    • $52,800
      Pending

      Coloma Land with Pole Barn

      3.75-acre parcel with pole barn in Coloma, Michigan.
      Vl Boyer Rd, Coloma, MI 49038
      View Details

    Similar Nearby for Lease

    • $3 SF/Yr
      4,000 SF

      Coloma Industrial Outbuilding For Lease

      4,000 SF industrial space with flexible leasing options.
      500 Washington St, Coloma, MI 49038
      View Details
    • $2.00 SF/Yr
      40,192 SF

      Coloma Industrial Complex For Lease

      44,192 sq ft industrial complex on 4.2 acres.
      500 Washington St, Coloma, MI 49038
      View Details
    View Listing
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    Coloma, MI 49038
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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.

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