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Property profile & analytics
OFF-MARKET
Estimated value
$600,000
Warehouses
5790 Ml St, Stevensville, MI 49127-1228
Entity Owned
8-yr Hold
Absentee Owner
Free & Clear
Property ID
US43-2609548
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1925
Total area
12,023 SF
Zoning code
VIL-C-2 CB
APN
45-9220-0003-00-0
UPID
US43-2609548
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
$601k
Blend (final)
Blend
$600k
Owner & transaction history
Watermark Syndicate LLC · 8 yrs held
Watermark Syndicate LLC
since 2017
3 recorded transactions
Zoning & alternative use
VIL-C-2 CB · Stevensville, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$870,000
+78.3%
Auto repair, garage
$750,000
+53.3%
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 Stevensville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Stevensville 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
WAREHOUSE, STORAGE
$490,000
Current use
RETAIL STORES
$870,000
Change: +78% · Conversion: Moderate
AUTO REPAIR, GARAGE
$750,000
Change: +53% · Conversion: Easy
Blend value · Realmo final
$600k
Range $540k – $660k · ±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
$50 / 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
$5,703
Tax year 2023
Assessed value
$251,700
Assessed 2024
Previous assessed
$245,000
+2.7% YoY
Effective rate
2.27%
On assessed value
Total market value
$503,400
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1925
Stories
1
Total area
12,023 SF
Zoning code
VIL-C-2 CB
APN
45-9220-0003-00-0
UPID
US43-2609548
Jurisdiction
BERRIEN
Zoning & alternative use
VIL-C-2 CB · Stevensville, MI
Zoning VIL-C-2 CB · permitted uses
VIL-C-2 CB · Stevensville, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Stevensville. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$490,000
RETAIL STORES
Est. value
$870,000
AUTO REPAIR, GARAGE
Est. value
$750,000
WAREHOUSE, STORAGE Current
RETAIL STORES
AUTO REPAIR, GARAGE
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
1925
Stories
1
Current owner
From public records · entity-resolved
Watermark Syndicate LLC
Entity
Free & Clear · 8 yrs held
Mailing address
2684 KIMMEL ST, STEVENSVILLE, MI 49127-1219
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 30, 2025
—
Watermark Syndicate LLC
—
Deed
related
$743,382 · Honor Cu
Jul 20, 2022
—
Watermark Synducate LLC
—
Deed
related
$137,500 · Honor Cu
Nov 6, 2017
—
Watermark Syndicate LLC
Shirrley Kerlikowske
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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