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Property profile & analytics
OFF-MARKET
Estimated value
$2,150,000
Industrial properties
531 Sol Morris Ave White Pigeon, MI 49099-9501
Entity Owned
1-yr Hold
Free & Clear
Property ID
US43-2180779
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Total area
7,760 SF
Lot
5 ac (217,800 SF)
APN
045-777-120-00
UPID
US43-2180779
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
-
Prm Trucking Inc Trucking Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.79M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.15M
Owner & transaction history
Kag Leasing INC · 1 yrs held
Kag Leasing INC
since 2024
Last sale
$2.3M
4 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 White Pigeon submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs White Pigeon 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%
$1,935,000
6.5%
$1,785,000
7%
$1,660,000
Blend value · Realmo final
$2.15M
Range $1.94M – $2.37M · ±10% · vs last sale $2.33M (Dec 23 2024)
Last sale anchor
$2.33M
Dec 23 2024
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
$277 / 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
$3,083
Tax year 2023
Assessed value
$120,500
Assessed 2024
Previous assessed
$99,100
+21.6% YoY
Effective rate
2.56%
On assessed value
Assessed land
$37,200
Assessed improvement
$83,300
Land market value
$74,400
Improvement market value
$166,600
Total market value
$241,000
Applied tax rate
45.0000
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Heating
YES
Cooling
YES
Stories
1
Total area
7,760 SF
Lot
5 ac (217,800 SF)
APN
045-777-120-00
UPID
US43-2180779
Jurisdiction
ST JOSEPH
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
Heating
YES
Cooling
Yes
Stories
1
Lot
5 ac
Current owner
From public records · entity-resolved
Kag Leasing INC
Entity
Free & Clear · 1 yrs held
Mailing address
PO BOX 427, WHITE PIGEON, MI 49099-0427
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 23, 2024
$2,330,000
Kag Leasing INC
Pigeon River Properties LLC
Warranty Deed
—
Aug 24, 2023
—
Pigeon River Roperties LLC
—
Deed
related
$4,677,500 · Southern Michigan Bank & Trust
May 14, 2012
$6,037
Pigeon River Properties LLC
St Joseph County Treasurer
Redemption Deed
related
—
Jan 24, 2008
$225,000
Pigeon River Properties LLC
Mkrjf Enterprises INC
Warranty Deed
$208,000 · The Bank Of Holland
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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