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Property profile & analytics
OFF-MARKET
Retail space
340 Water St, Saugatuck, MI 49453-8431
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US43-2410633
Property summary
AI-generated overview
Dockside Market Place offers exceptional retail opportunities in the vibrant heart of Saugatuck, Michigan. This property, located at 340 Water St, features multiple spaces available for lease, ranging from 1,146 square feet to 7,135 square feet. Eleven of twelve condo units are currently available. Two notable spaces are formerly occupied by established restaurants: the 5,989 square foot former Mermaids Bar and Grill, boasting an expansive patio and docks with stunning Kalamazoo River views
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1998
Total area
430 SF
Lot
0.01 ac (305 SF)
APN
57-075-011-00
UPID
US43-2410633
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
-
Coppercraft Distillery Tasting Room Brewery & Distillery Bar & Pub
-
Thatcher's Organic Artisan Spirits Restaurant
-
Mermaid Bar & Grill Bar & Pub 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
by Request
Owner & transaction history
Boat Shed Properties LLC · 1 yrs held
Boat Shed Properties LLC
since 2024
3 recorded transactions
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 Saugatuck submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Saugatuck 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
Assessed value
$55,300
Assessed 2024
Previous assessed
$51,600
+7.2% YoY
Assessed land
$15,700
Assessed improvement
$39,600
Land market value
$31,400
Improvement market value
$79,200
Total market value
$110,600
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1998
Heating
FORCED AIR
Buildings
1
Stories
1
Total area
430 SF
Lot
0.01 ac (305 SF)
APN
57-075-011-00
UPID
US43-2410633
Jurisdiction
ALLEGAN
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
Year built
1998
Heating
FORCED AIR
Stories
1
Buildings
1
Lot
0.01 ac
Current owner
From public records · entity-resolved
Boat Shed Properties LLC
Entity
Mailing address
1064 CAROLINA ST, SAN FRANCISCO, CA 94107-3339
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 23, 2024
—
Boat Shed Properties LLC
River And Odi Properties LLC
Deed
$2,400,000 · Choiceone Bank
May 23, 2016
$1,100,000
Mermaid Property LLC
Scm Properties LLC
Warranty Deed
—
Jul 15, 2005
$180,000
Scm Properties LLC
Water Street Investments LLC
Warranty Deed
$162,000 · The Huntington National 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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