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    Property profile & analytics

    320 State St Saint Joseph, MI 49085-1248

    • Drive through restaurants
    • 7,326 SF
    • 0.06 lot acres
    OFF-MARKET
    Last Sale
    Sep 11, 2020
    Value Estimations
    $700,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-3904950
    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

    • Drive through restaurants

    Property Details for 320 State St

    Lot size
    0.06 lot acres
    Property size
    7,326 SF
    Zone code
    D
    Property type
    Drive through restaurants
    APN
    76-0340-0138-03-3
    APU
    7603400138033

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $700,000
      Market price range: $611k - $1.68M
      AI Estimate
      $700,000
      Market price range: $611k - $1.68M

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $1,080,000
      Current use
      COMMERCIAL (GENERAL)
      $890,000
      Change: -18% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Saint Joseph
    County
    Berrien
    State
    Michigan
    Longitude
    -86.4826
    Latitude
    42.109
    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
    $15,056
    $0.00
    $0.00
    $266,600
    -
    $0.00
    $0.00
    $533,200

    Comparable in this City

    • Value Estimation by Request
      2,074 SF

      2731 Niles Ave

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,074 SF
      2731 Niles Ave, Saint Joseph, MI 49085-2444
      View Details
    • Value Estimation
      $600,000
      2,609 SF

      2800 Niles Ave

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,609 SF
      2800 Niles Ave, Saint Joseph, MI 49085-2416
      View Details
    • Value Estimation
      $700,000
      3,385 SF

      2051 Washington Ave

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,385 SF
      2051 Washington Ave, Saint Joseph, MI 49085-2430
      View Details
    • Value Estimation
      $555,000
      3,082 SF

      1666 Hilltop Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,082 SF
      1666 Hilltop Rd, Saint Joseph, MI 49085-2303
      View Details
    • Value Estimation by Request
      1,897 SF

      2732 Niles Ave

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,897 SF
      2732 Niles Ave, Saint Joseph, MI 49085-2445
      View Details
    • Value Estimation by Request
      640 SF

      1605 Lakeview Ave

      DRIVE-THRU RESTAURANT, FAST FOOD • 640 SF
      1605 Lakeview Ave, Saint Joseph, MI 49085-1640
      View Details

    Similar Nearby for Sale

    • $2,250,000
      6,000 SF

      Waterfront Tavern & Restaurant Opportunity

      Established waterfront restaurant and bar with liquor license and boat slips.
      600 Fishermans Rd, St Joseph, MI 49085
      View Details
    • New
      $639,000
      7,271 SF

      St. Joseph Commercial Building

      High-visibility commercial building with office and restaurant spaces in St. Joseph.
      2931-2945 Niles Ave, St Joseph, MI 49085
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    • $850,000
      6,490 SF

      St. Joseph Commercial Property For Sale

      High-visibility commercial property with income potential in a growing market.
      3830-3824 M-139, St Joseph, MI 49085
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    • New
      $799,900
      11,350 SF

      Versatile Flex Building in St. Joseph

      11,350 SF flex building on 0.53 acres.
      1656 Hilltop Rd, St Joseph, MI 49085
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    • $549,000

      St. Joseph Retail Opportunity

      7,280 SF retail space in a prime location.
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    • $545,000
      7,120 SF

      Auto Service Building For Sale

      Well-maintained 7,120 SF auto service building on 0.422 acres.
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    Similar Nearby for Lease

    • New
      $14 SF/Yr
      1,553 SF

      St. Joseph Commercial Kitchen Space

      Versatile commercial space with a large, well-appointed kitchen.
      610 Broad St, St Joseph, MI 49085
      View Details
    • $13 SF/Yr

      Remodeled Building in High-Traffic Location

      Remodeled 2,690 sq ft building suitable for retail or office.
      3824 M-139, Saint Joseph, MI 49085
      View Details
    • $16 SF/Yr
      Pending

      St. Joseph Retail/Office Space

      645 SF retail/office space with high visibility and ample parking.
      810 Highland Ave, St Joseph, MI 49085
      View Details
    • $16 SF/Yr
      Pending

      St. Joseph Retail/Office Space

      1039 SF retail/office space with high visibility and parking.
      810 Highland Ave, St Joseph, MI 49085
      View Details
    • $15 SF/Yr
      2,310 SF

      Versatile Commercial Space in St. Joseph

      Adaptable commercial space in downtown St. Joseph, Michigan.
      212 State St, St Joseph, MI 49085
      View Details
    • $17 SF/Yr
      1,800 SF

      Retail Space on Niles Avenue

      High-visibility retail space in a well-established commercial corridor.
      2926 Niles Ave Unit, St Joseph, MI 49085
      View Details
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    320 State St
    Saint Joseph, MI 49085-1248
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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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