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Property profile & analytics
OFF-MARKET
Estimated value
$505,000
Turn key restaurants
620 M 140 Watervliet, MI 49098-8524
Individually Owned
1-yr Hold
Free & Clear
Property ID
US43-3050204
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Total area
1,384 SF
Lot
0.8 ac (34,848 SF)
Zoning code
B-2
APN
78-0027-0073-00-7
UPID
US43-3050204
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
by Request
Blend (final)
Blend
$505k
Owner & transaction history
George Stratis · 1 yrs held
George Stratis
since 2025
6 recorded transactions
Zoning & alternative use
B-2 · Watervliet, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The B-2 district is established to provide additional business and commercial uses, limited service uses not permitted in the B-1 district, and to provide for a greater bulk and intensity of use of land and buildings.
Zone name
Commercial And Professional
General category
COMMERCIAL
Zone area
10.99 ac
Source
Realmo
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 Watervliet submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Watervliet 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
Blend value · Realmo final
$505k
Range $455k – $556k · ±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
$365 / 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
$4,694
Tax year 2023
Assessed value
$87,300
Assessed 2024
Previous assessed
$72,200
+20.9% YoY
Effective rate
5.38%
On assessed value
Total market value
$174,600
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Stories
1
Total area
1,384 SF
Lot
0.8 ac (34,848 SF)
Zoning code
B-2
APN
78-0027-0073-00-7
UPID
US43-3050204
Jurisdiction
BERRIEN
Zoning & alternative use
B-2 · Watervliet, MIZoning B-2 · permitted uses
B-2 · Watervliet, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The B-2 district is established to provide additional business and commercial uses, limited service uses not permitted in the B-1 district, and to provide for a greater bulk and intensity of use of land and buildings.
Zone name
Commercial And Professional
General category
COMMERCIAL
Zone area
10.99 ac
Source
Realmo
Building & site characteristics
From public records
Stories
1
Lot
0.8 ac
Current owner
From public records · entity-resolved
George Stratis
Individual
Free & Clear · 1 yrs held
Mailing address
45 OTTAWA AVE SW STE #600, GRAND RAPIDS, MI 49503-4011
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 31, 2025
—
George Stratis
Wm Limied Partnership
Warranty Deed
—
Apr 18, 2024
—
Wm Limited Partnership
Abundant Hope LLC
Warranty Deed
—
Dec 10, 2021
$120,000
Abundani Hope LLC
Christian Property Management LLC
Warranty Deed
$228,000 · Sturgis Bank & Trust Co
Jul 18, 2017
—
Christian Property Management LLC
Fifth Third Bank
Warranty Deed
—
Apr 5, 2011
—
Christian Property Management LLC
Wayne Scott
Quit Claim Deed
related
—
May 11, 2010
—
Wayne Scott
Glenna Wolshlager
Land Contract
—
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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