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Property profile & analytics
OFF-MARKET
Retail space
348 Main St, Watervliet, MI 49098-9611
Individually Owned
14-yr Hold
~
Est. High Equity
Property ID
US43-2814645
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1924
Total area
6,438 SF
Lot
0.21 ac (8,930 SF)
Zoning code
B-1
APN
78-0340-0035-05-5
UPID
US43-2814645
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
-
Cortez Flooring Carpet & Flooring Store Hardware & Home Improvement
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
David Cortez · 14 yrs held
David Cortez
since 2012
4 recorded transactions
Zoning & alternative use
B-1 · Watervliet, MI
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 Watervliet submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Watervliet 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
$1,673
Tax year 2023
Assessed value
$34,400
Assessed 2024
Previous assessed
$30,400
+13.2% YoY
Effective rate
4.86%
On assessed value
Total market value
$68,800
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
1924
Stories
1
Total area
6,438 SF
Lot
0.21 ac (8,930 SF)
Zoning code
B-1
APN
78-0340-0035-05-5
UPID
US43-2814645
Jurisdiction
BERRIEN
Zoning & alternative use
B-1 · Watervliet, MI
Zoning B-1 · permitted uses
B-1 · Watervliet, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Watervliet. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1924
Stories
1
Lot
0.21 ac
Current owner
From public records · entity-resolved
David Cortez
Individual
Mailing address
PO BOX 8TH 8, WATERVLIET, MI 49098-0008
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 29, 2012
$140,000
David Cortez
Gary Gargano
Warranty Deed
$92,000 · Horizon Bank NA
Feb 29, 2012
—
Cortez Flooring INC
David Cortez
Quit Claim Deed
related
—
Mar 22, 2011
—
David Cortez
Emiliano Cortez JR
Intrafamily Transfer
related
—
Mar 25, 2008
—
Emiliano Cortez JR
Gary Gargano
Land Contract
—
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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