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Property profile & analytics
OFF-MARKET
Estimated value
$645,000
Turn key restaurants
402 Phoenix St South Haven, MI 49090-1310
Entity Owned
11-yr Hold
~
Est. High Equity
Property ID
US43-1978076
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1930
Total area
6,300 SF
Lot
0.14 ac (6,316 SF)
Zoning code
CBD
APN
80-53-001-008-00
UPID
US43-1978076
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
-
Taste Restaurant
-
Chomp Gourmet Hot Dogs Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$645k
Blend (final)
Blend
$645k
Owner & transaction history
Peelie Properties LLC · 11 yrs held
Peelie Properties LLC
since 2015
3 recorded transactions
Zoning & alternative use
CBD · South Haven, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$925,000
+58.7%
Commercial (general)
$590,000
+1.1%
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 South Haven submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs South Haven 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
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$585,000
Current use
RETAIL STORES
$925,000
Change: +59% · Conversion: Easy
COMMERCIAL (GENERAL)
$590,000
Change: +1% · Conversion: Easy
Blend value · Realmo final
$645k
Range $581k – $710k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$102 / SF
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 2020Property tax & assessments
Tax year 2020
Tax billed
$12,556
Tax year 2020
Assessed value
$222,500
Assessed 2023
Previous assessed
$200,600
+10.9% YoY
Effective rate
5.64%
On assessed value
Total market value
$445,000
Applied tax rate
80,530.0000
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1930
Heating
NONE
Stories
1
Total area
6,300 SF
Lot
0.14 ac (6,316 SF)
Zoning code
CBD
APN
80-53-001-008-00
UPID
US43-1978076
Jurisdiction
VAN BUREN
Zoning & alternative use
CBD · South Haven, MI
Zoning CBD · permitted uses
CBD · South Haven, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
South Haven. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT Current
Est. value
$585,000
RETAIL STORES
Est. value
$925,000
COMMERCIAL (GENERAL)
Est. value
$590,000
RESTAURANT Current
RETAIL STORES
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1930
Heating
NONE
Stories
1
Lot
0.14 ac
Current owner
From public records · entity-resolved
Peelie Properties LLC
Entity
Mailing address
402 PHOENIX ST, SOUTH HAVEN, MI 49090-1310
Ownership since
2015
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
Mar 9, 2015
$600,000
Peelie Properties LLC
Jwilco Properties LLC
Warranty Deed
$450,000 · Chemical Bank
Dec 12, 2012
$300,000
Jwilco Properties LLC
Chemical Bank
Deed
$245,000 · Chemical Bank
Sep 1, 2011
$216,274
Chemical Bank
Robert W Logay
Sheriffs Deed
related
—
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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