Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    340 Water St Saugatuck, MI 49453-8431
    Back to Search
    Property profile & analytics

    340 Water St Saugatuck, MI 49453-8431

    View on Map
    • Retail space
    • 430 SF
    • 0.01 lot acres
    Off-Market
    Last Sale Dec 23, 2024
    Property ID
    US43-2410633
    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

    • Coppercraft Distillery Tasting Room / Brewery & Distillery / Bar & Pub
    • Thatcher's Organic Artisan Spirits / Restaurant
    • Mermaid Bar & Grill / Bar & Pub / Restaurant

    Property Details for 340 Water St

    Year built
    1998
    Lot size
    0.01 lot acres
    Property size
    430 SF
    Property type
    Retail space
    APN
    57-075-011-00
    APU
    5707501100

    Description

    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

    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
    Saugatuck
    County
    Allegan
    State
    Michigan
    Longitude
    -86.2057
    Latitude
    42.657
    CBSA code
    26090
    CBSA name
    HOLLAND, MI MICROPOLITAN 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
    $0.00
    $15,700
    $39,600
    $55,300
    -
    $31,400
    $79,200
    $110,600

    Comparable in this City

    • Value Estimation by Request
      583 SF

      247 Butler St

      RETAIL STORES (PERSONAL SERVICES) • 583 SF
      247 Butler St, Saugatuck, MI 49453
      View Details
    • Value Estimation by Request
      487 SF

      109 Butler St

      RETAIL STORES (PERSONAL SERVICES) • 487 SF
      109 Butler St, Saugatuck, MI 49453
      View Details
    • Value Estimation by Request
      3,520 SF

      3483 Blue Star Hwy

      RETAIL STORES (PERSONAL SERVICES) • 3,520 SF
      3483 Blue Star Hwy, Saugatuck, MI 49453-9400
      View Details
    • Value Estimation
      $2,050,000
      3,230 SF

      6069 Blue Star Hwy

      RETAIL STORES (PERSONAL SERVICES) • 3,230 SF
      6069 Blue Star Hwy, Saugatuck, MI 49453-9725
      View Details
    • Value Estimation
      $630,000
      5,040 SF

      233 Butler St

      RETAIL STORES (PERSONAL SERVICES) • 5,040 SF
      233 Butler St, Saugatuck, MI 49453-9493
      View Details
    • Value Estimation by Request
      2,100 SF

      133 Hoffman St

      RETAIL STORES (PERSONAL SERVICES) • 2,100 SF
      133 Hoffman St, Saugatuck, MI 49453
      View Details

    Similar Nearby for Sale

    • $375,000
      346 SF

      Remodeled Retail Space on Butler

      Prime retail location in Saugatuck's shopping district.
      246 Butler St, Saugatuck, MI 49453
      View Details
    • $950,000
      3,690 SF

      Saugatuck Mixed-Use Prime Location

      Mixed-use property in downtown Saugatuck with commercial and residential units.
      133 Mason St, Saugatuck, MI 49453
      View Details
    • $2,225,000
      9,176 SF

      Historic Mixed-Use Building in Saugatuck

      Historic brick building with residential and commercial rentals in downtown.
      439 Butler St, Saugatuck, MI 49453
      View Details
    • $1,800,000

      Saugatuck Lake Street Property

      Commercial property for sale on Lake Street in Saugatuck.
      787 Lake St, Saugatuck, MI 49453
      View Details

    Similar Nearby for Lease

    • $3,000 /Mo
      Pending

      Prime Retail Space in Saugatuck

      2000 sqft retail space in updated building on Water St.
      650 Water St, Saugatuck, MI 49453
      View Details
    • $3,000 /Mo
      Pending

      Prime Retail Space in Saugatuck

      2000 sqft retail space in a high-traffic Saugatuck location.
      650 Water St, Saugatuck, MI 49453
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    340 Water St
    Saugatuck, MI 49453-8431
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    340 Water St, Saugatuck, MI, 49453
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!