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Property profile & analytics
OFF-MARKET
Retail space
403 Water St Saugatuck, MI 49453
Trust Owned
1-yr Hold
Free & Clear
Property ID
US43-2061566
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1987
Total area
756 SF
Lot
0.03 ac (1,437 SF)
APN
57-655-001-00
UPID
US43-2061566
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
-
Rose + Huck Salon Hair Salon
-
Cellar Door Trades Home Decor Store Department Store
-
Beach House Clothing & Fashion Store
-
TOTU BOUTIQUE Clothing Store
-
J. Petter Galleries • Saugatuck Annex Art Gallery
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
Brian Joel Schipper Revocable Trust · 1 yrs held
Brian Joel Schipper Revocable Trust
since 2024
7 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
$74,000
Assessed 2024
Previous assessed
$67,100
+10.3% YoY
Assessed land
$27,400
Assessed improvement
$46,600
Land market value
$54,800
Improvement market value
$93,200
Total market value
$148,000
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
1987
Heating
FORCED AIR
Buildings
1
Stories
1
Total area
756 SF
Lot
0.03 ac (1,437 SF)
APN
57-655-001-00
UPID
US43-2061566
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
1987
Heating
FORCED AIR
Stories
1
Buildings
1
Lot
0.03 ac
Current owner
From public records · entity-resolved
Brian Joel Schipper Revocable Trust
Trust
Free & Clear · 1 yrs held
Mailing address
140 E HARRISON AVE, ZEELAND, MI 49464-1205
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
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 30, 2024
—
Brian Joel Schipper Revocable Trust
Chieko Mizui
Warranty Deed
—
Jul 8, 2022
—
Tad W Degraaf
David L Armstrong
Warranty Deed
—
Sep 21, 2020
—
403 Water Street LLC
U S Bank National Association
Warranty Deed
—
Oct 4, 2019
—
Chieko Mizui
Chieko Mizui
Deed
related
—
Jun 14, 2019
$190,000
U S Bank National Association
Jerry E Dreyer
Sheriffs Deed
related
—
Dec 3, 2018
$170,000
Dunkbar LLC
C Hugh Stepehns
Warranty Deed
$128,000 · Bank Of America NA
Jul 11, 2017
—
David L Armstrong
David L Armstrong
Deed
related
—
Nov 22, 2016
$195,000
Chieko Mizui
Elmore Holdings LLC
Warranty Deed
$140,000 · Macatawa Bank
Jun 5, 2015
—
Jerry E Dreyer
Jerry E Dreyer
Intrafamily Transfer
related
—
Nov 16, 2006
$190,000
Jerry E Dreyer
Anita K Tanner
Warranty Deed
$188,500 · Lehman Brothers Bank Fsb
Dec 1, 2005
$69,935
Jerry E Dreyer
Around The World Ltd
Quit Claim 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.
Try Rey
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