New search
Property profile & analytics
OFF-MARKET
Estimated value
$1,580,000
Office buildings
499 Main St, Benton Harbor, MI 49022-3622
Entity Owned
17-yr Hold
Free & Clear
Property ID
US43-3215758
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1990
Total area
15,967 SF
Lot
1.52 ac (66,211 SF)
Zoning code
DISTRICT D-2
APN
54-0805-0012-01-1
UPID
US43-3215758
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
-
Michigan Works! Service Center Charitable Organization Social Service Agency
-
Kinexus Business Service Center
-
Workfirst Charitable Organization Social Service Agency
-
Labor & Economic Growth Department State Government Office
-
The Bridge Academy of Southwest Michigan High School Vocational School
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.58M
Blend (final)
Blend
$1.58M
Owner & transaction history
Michigan Department Of Transportati · 17 yrs held
Michigan Department Of Transportati
since 2009
1 recorded transaction
Zoning & alternative use
DISTRICT D-2 · Benton Harbor, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.4M
+43.7%
Commercial (general)
$1.9M
+18.1%
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 Benton Harbor submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Benton Harbor 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
OFFICE BUILDING
$1,640,000
Current use
RESTAURANT
$2,355,000
Change: +44% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,935,000
Change: +18% · Conversion: Easy
Blend value · Realmo final
$1.58M
Range $1.42M – $1.74M · ±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
$99 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$30,628
Tax year 2023
Assessed value
$592,600
Assessed 2024
Previous assessed
$535,600
+10.6% YoY
Effective rate
5.17%
On assessed value
Total market value
$1,185,200
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1990
Stories
1
Total area
15,967 SF
Lot
1.52 ac (66,211 SF)
Zoning code
DISTRICT D-2
APN
54-0805-0012-01-1
UPID
US43-3215758
Jurisdiction
BERRIEN
Zoning & alternative use
DISTRICT D-2 · Benton Harbor, MI
Zoning DISTRICT D-2 · permitted uses
DISTRICT D-2 · Benton Harbor, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Benton Harbor. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.6M
RESTAURANT
Est. value
$2.4M
COMMERCIAL (GENERAL)
Est. value
$1.9M
OFFICE BUILDING Current
RESTAURANT
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
1990
Stories
1
Lot
1.52 ac
Current owner
From public records · entity-resolved
Michigan Department Of Transportati
Entity
Free & Clear · 17 yrs held
Mailing address
355 GRAY ST, BENTON HARBOR, MI 49022-5056
Ownership since
2009
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 14, 2009
$7,000
Michigan Department Of Transportati
Consumers Investment Co LLC
Warranty Deed
—
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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