New search
Property profile & analytics
OFF-MARKET
Estimated value
$705,000
Outlet malls
614 Main St, Olivet, MI 49076-8632
Individually Owned
1-yr Hold
~
Est. High Equity
Property ID
US43-2361550
Property summary
AI-generated overview
This exceptional investment opportunity presents a 17,941 square foot retail center in Olivet, Michigan, currently 100% occupied by two tenants. The property, situated on a 1.55-acre lot at 614 N Main St, 49076, boasts a strong 8.00% cap rate and a substantial net operating income (NOI) of $76,836. The primary tenant, Dollar General, has consistently occupied the site since 2009, recently exercising their first option renewal, demonstrating a significant commitment to the location. Notably, no rent concessions or tenant improvement allowances were provided during the renewal. The property features a low rent per square foot of $4.97, and the asking price of $960,454 is significantly below replacement cost. The building underwent renovations in 2015. The lease is a net lease with a remaining term of 5 years. This is a multi-tenant property with a total of two tenants. The investment is categorized as a net lease with no credit rating provided for the tenant. This presents a compelling opportunity for investors seeking a stable, high-performing retail asset in a desirable location. The property is classified as a shopping center and storefront.
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
1953
Total area
17,890 SF
Lot
1.55 ac (67,518 SF)
APN
600 029 200 810 02
UPID
US43-2361550
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
-
Swanson Mechanical Service, LLC Home Appliance Store
-
Dollar General Discount Store
-
FedEx OnSite Postal Service Courier Service
-
Western Union Bank Credit Union
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$664k
Blend (final)
Blend
$705k
Owner & transaction history
Souad Abro · 1 yrs held
Souad Abro
since 2025
Last sale
$750,000
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.1M
+48.0%
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 Olivet submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Olivet 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
$745,000
Current use
AUTO REPAIR, GARAGE
$1,100,000
Change: +48% · Conversion: Difficult
Blend value · Realmo final
$705k
Range $635k – $776k · ±10% · vs last sale $750k (Mar 23 2025)
Last sale anchor
$750k
Mar 23 2025
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
$39 / 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
$15,782
Tax year 2023
Assessed value
$371,376
Assessed 2024
Previous assessed
$345,158
+7.6% YoY
Effective rate
4.25%
On assessed value
Total market value
$742,752
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
1953
Heating
FORCED AIR
Stories
1
Total area
17,890 SF
Lot
1.55 ac (67,518 SF)
APN
600 029 200 810 02
UPID
US43-2361550
Jurisdiction
EATON
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
RETAIL STORES Current
Est. value
$745,000
AUTO REPAIR, GARAGE
Est. value
$1.1M
RETAIL STORES Current
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
1953
Heating
FORCED AIR
Stories
1
Lot
1.55 ac
Current owner
From public records · entity-resolved
Souad Abro
Individual
Mailing address
9460TH S SAGINAW ST STE A, GRAND BLANC, MI 48439
Ownership since
2025
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
Jun 23, 2025
$750,000
Souad Abro
Triple H&s Limited LLC
Warranty Deed
$460,000 · Bank Michigan
Feb 6, 2015
—
Triple H & S Ltd LLC
Olivet Plaza LLC
Warranty Deed
$3,273,725 · Team One Cu
Jul 2, 2009
—
Olivet Plaza LLC
Jaja Holdings LLC
Warranty 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 614 Main St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
