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Property profile & analytics
OFF-MARKET
Estimated value
$1,270,000
Manufacturing properties
603 Eastern Ave, Allegan, MI 49010-9593
Individually Owned
2-yr Hold
~
Est. High Equity
Property ID
US43-2439658
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1990
Total area
21,260 SF
Lot
2.57 ac (111,906 SF)
APN
51-253-005-00
UPID
US43-2439658
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
-
Fabricated Components Metal Fabrication Plant Factory
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.53M
Comparable Approach
Comparable
$955k
Blend (final)
Blend
$1.27M
Owner & transaction history
Brian K Hicks · 2 yrs held
Brian K Hicks
since 2024
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$2.1M
+26.9%
Office building
$2.1M
+25.2%
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 Allegan submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Allegan 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%
$1,655,000
6.5%
$1,530,000
7%
$1,420,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$1,650,000
Current use
WAREHOUSE, STORAGE
$2,095,000
Change: +27% · Conversion: Easy
OFFICE BUILDING
$2,065,000
Change: +25% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,505,000
Change: -9% · Conversion: Easy
Blend value · Realmo final
$1.27M
Range $1.14M – $1.40M · ±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
$60 / 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
$17,599
Tax year 2023
Assessed value
$382,600
Assessed 2024
Previous assessed
$363,400
+5.3% YoY
Effective rate
4.60%
On assessed value
Assessed land
$37,500
Assessed improvement
$345,100
Land market value
$75,000
Improvement market value
$690,200
Total market value
$765,200
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1990
Heating
FORCED AIR
Buildings
4
Stories
1
Total area
21,260 SF
Lot
2.57 ac (111,906 SF)
APN
51-253-005-00
UPID
US43-2439658
Jurisdiction
ALLEGAN
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$1.7M
WAREHOUSE, STORAGE
Est. value
$2.1M
OFFICE BUILDING
Est. value
$2.1M
AUTO REPAIR, GARAGE
Est. value
$1.5M
INDUSTRIAL (GENERAL) Current
WAREHOUSE, STORAGE
OFFICE BUILDING
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
1990
Heating
FORCED AIR
Stories
1
Buildings
4
Lot
2.57 ac
Current owner
From public records · entity-resolved
Brian K Hicks
Individual
Mailing address
603 N EASTERN AVE, ALLEGAN, MI 49010-9593
Mailing matches property
Yes
Owner-occupied
Yes
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 1, 2024
—
Brian K Hicks
Christopher M Hicks
Intrafamily Transfer
related
$297,190 · Consumers Cu
Dec 12, 2019
—
Brian K Hicks
—
Deed
related
$590,000 · Consumers Cu
Jun 4, 2018
—
Brian K Hicks
—
Deed
related
$125,000 · Arbor Financial Cu
Oct 6, 2016
$200,000
Christopher Flicks
John K Hanse
Warranty Deed
$544,000 · Arbor Financial Cu
Oct 6, 2016
—
Brian K Hicks
—
Deed
related
$544,000 · Arbor Financial Cu
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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