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Property profile & analytics
OFF-MARKET
Estimated value
$520,000
Commercial real estate
328 1st St, Manistee, MI 49660-1702
Entity Owned
16-yr Hold
~
Est. High Equity
Property ID
US43-3265527
Property summary
AI-generated overview
This unique Manistee property presents a compelling investment opportunity. Priced at $719,000, this landmark building offers versatile commercial space on the ground floor, currently occupied by a health food store. The expansive area presents significant potential for various businesses. Two upper-floor apartments generate rental income, adding to the property's value. A separate 936 square-foot building, currently used as an insurance office, is also included. The property boasts ample parking on a half-block lot situated on a busy Manistee corner, enhancing visibility and accessibility. An additional outlot is available for signage, further maximizing marketing opportunities. The main building features approximately 119 feet of road frontage. Located in Manistee Township near the hospital, this 15,246 square-foot lot offers a blend of historic charm and modern commercial viability. The property's prime location and diverse income streams make it an attractive investment for discerning buyers.
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Lot
0.35 ac (15,246 SF)
APN
51-448-726-09
UPID
US43-3265527
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$520k
Owner & transaction history
Dumard Holdings LLC · 16 yrs held
Dumard Holdings LLC
since 2009
Last sale
$520,000
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Manistee submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Manistee 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$7,544
Tax year 2023
Assessed value
$165,400
Assessed 2024
Previous assessed
$160,700
+2.9% YoY
Effective rate
4.56%
On assessed value
Total market value
$330,800
Applied tax rate
51.0000
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Lot
0.35 ac (15,246 SF)
APN
51-448-726-09
UPID
US43-3265527
Jurisdiction
MANISTEE
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Lot
0.35 ac
Current owner
From public records · entity-resolved
Dumard Holdings LLC
Entity
Mailing address
328 1ST ST, MANISTEE, MI 49660-1702
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2009
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 13, 2009
$229,000
Dumard Holdings LLC
Marcia L Witherspoon
Warranty Deed
$149,920 · National City Bank
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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