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    Property profile & analytics

    5637 Cleveland Ave Stevensville, MI 49127-9613

    • Grocery and convenience stores
    • 62,721 SF
    • 16.85 lot acres
    OFF-MARKET
    Value Estimations
    $4,645,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-3597498
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Martin's Super Market / Grocery & Convenience Store / Food Market
    • Martin's Super Market Pharmacy / Pharmacy
    • Stevensville Martin's ATM- Location / Atm
    • Coinstar / Bank / Credit Union
    • Western Union / Bank / Credit Union

    Property Details for 5637 Cleveland Ave

    Year built
    2010
    Lot size
    16.85 lot acres
    Property size
    62,721 SF
    Zone code
    CMU
    Property type
    Grocery and convenience stores
    APN
    12-4945-0001-00-0
    APU
    1249450001000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,645,000
      Market price range: $2.15M - $7.04M
      AI Estimate
      $4,643,000
      Market price range: $2.15M - $7.04M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $4,545,000
      Current use
      COMMERCIAL (GENERAL)
      $7,600,000
      Change: +67% Conversion: Easy
      OFFICE BUILDING
      $6,440,000
      Change: +42% Conversion: Easy
      AUTO REPAIR, GARAGE
      $3,905,000
      Change: -14% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Stevensville
    County
    Berrien
    State
    Michigan
    Longitude
    -86.4923
    Latitude
    42.0159
    CBSA code
    35660
    CBSA name
    NILES-BENTON HARBOR, MI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $75,951
    $0.00
    $0.00
    $1,813,500
    -
    $0.00
    $0.00
    $3,627,000

    Comparable in this City

    • Value Estimation by Request
      4,036 SF

      4559 Red Arrow Hwy

      GROCERY, SUPERMARKET • 4,036 SF
      4559 Red Arrow Hwy, Stevensville, MI 49127-9301
      View Details
    • Value Estimation by Request
      1,440 SF

      5515 Red Arrow Hwy

      GROCERY, SUPERMARKET • 1,440 SF
      5515 Red Arrow Hwy, Stevensville, MI 49127-1068
      View Details
    • Value Estimation by Request
      4,277 SF

      4435 Red Arrow Hwy

      GROCERY, SUPERMARKET • 4,277 SF
      4435 Red Arrow Hwy, Stevensville, MI 49127-9311
      View Details
    • Value Estimation by Request
      534 SF

      4318 Red Arrow Hwy

      CONVENIENCE STORE • 534 SF
      4318 Red Arrow Hwy, Stevensville, MI 49127-8304
      View Details
    • Value Estimation by Request
      2,560 SF

      5681 Cleveland Ave

      CONVENIENCE STORE • 2,560 SF
      5681 Cleveland Ave, Stevensville, MI 49127-9685
      View Details
    • Value Estimation
      $11,075,000
      195,253 SF

      5019 Red Arrow Hwy

      GROCERY, SUPERMARKET • 195,253 SF
      5019 Red Arrow Hwy, Stevensville, MI 49127-1013
      View Details

    Similar Nearby for Sale

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      Stevensville Commercial Building with Drive-Through

      Commercial building with drive-through on Red Arrow Highway.
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      Walgreens Investment Opportunity

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    • $950,000
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      Established Restaurant with Drive-Through

      Freestanding Subway restaurant on Red Arrow Highway in Stevensville, MI.
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    • $555,500
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      Stevensville Commercial Land - I-94

      5-Acre Commercial Lot, High Traffic Area
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    • $40,000
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      Wooded Corner Lot in Stevensville

      Quiet neighborhood lot in Stevensville, Michigan.
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    Similar Nearby for Lease

    • $12 SF/Yr
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      Stevensville Commercial Space For Lease

      Versatile commercial space in prime Stevensville location, ideal for retail.
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    • Contact for pricing
      3,857 SF

      Former Restaurant with Drive-Thru

      3,857 SF former restaurant with drive-thru on 1.55 acres.
      4661 Red Arrow Hwy, Stevensville, MI 49127
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    • $16 SF/Yr

      Red Arrow Hwy Retail Space

      Retail space available on Red Arrow Hwy for lease.
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    • New
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      4,341 SF

      Stevensville Office Space For Lease

      Professional office space available on Red Arrow Highway in Stevensville.
      4233 Red Arrow Hwy, Stevensville, MI 49127
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    • $6 SF/Yr
      8,776 SF

      Industrial Space Available for Lease

      8,776 SF industrial space for lease in Stevensville, Michigan.
      4295 N Roosevelt Rd, Stevensville, MI 49127
      View Details
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    5637 Cleveland Ave
    Stevensville, MI 49127-9613
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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