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Property profile & analytics
OFF-MARKET
Estimated value
$755,000
Outlet malls
51079 County Rd 652 Mattawan, MI 49071-9307
Entity Owned
5-yr Hold
Property ID
US43-2042749
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
2016
Total area
9,301 SF
Lot
5 ac (217,800 SF)
Zoning code
GC
APN
80-02-001-041-00
UPID
US43-2042749
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$753k
Blend (final)
Blend
$755k
Owner & transaction history
Realty Income Properties 18 LLC · 5 yrs held
Realty Income Properties 18 LLC
since 2021
5 recorded transactions
Zoning & alternative use
GC · Mattawan, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
Public Doc/Reports
Top alternative use upside
Commercial (general)
$870,000
+1.0%
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 Mattawan submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Mattawan 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
RETAIL STORES
$860,000
Current use
COMMERCIAL (GENERAL)
$870,000
Change: +1% · Conversion: Easy
RESTAURANT
$860,000
Change: 0% · Conversion: Easy
Blend value · Realmo final
$755k
Range $680k – $831k · ±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
$81 / 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
$12,950
Tax year 2020
Assessed value
$232,700
Assessed 2023
Previous assessed
$214,600
+8.4% YoY
Effective rate
5.57%
On assessed value
Total market value
$465,400
Applied tax rate
80,020.0000
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
2016
Heating
NONE
Stories
1
Total area
9,301 SF
Lot
5 ac (217,800 SF)
Zoning code
GC
APN
80-02-001-041-00
UPID
US43-2042749
Jurisdiction
VAN BUREN
Zoning & alternative use
GC · Mattawan, MIZoning GC · permitted uses
GC · Mattawan, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
Public Doc/Reports
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$860,000
COMMERCIAL (GENERAL)
Est. value
$870,000
RESTAURANT
Est. value
$860,000
RETAIL STORES Current
COMMERCIAL (GENERAL)
RESTAURANT
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
2016
Heating
NONE
Stories
1
Lot
5 ac
Current owner
From public records · entity-resolved
Realty Income Properties 18 LLC
Entity
Mailing address
11995 EL CAMINO REAL, SAN DIEGO, CA 92130-2539
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 21, 2021
—
Realty Income Properties 18 LLC
Dg Investmetns Ix LLC
Deed
—
Apr 14, 2017
—
Dg Investments Ix LLC
Midwest V LLC
Warranty Deed
$1,858,740 · Franklin Synergy Bank
Jun 24, 2016
—
Midwest V LLC
—
Deed
related
—
May 20, 2016
—
Midwest V LLC
Michael V Smead
Warranty Deed
—
Jun 25, 2014
—
Michael V Smead
Lillian Grace Smead
Intrafamily Transfer
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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