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Property profile & analytics
OFF-MARKET
Estimated value
$515,000
Retail space
62511 M 43, Bangor, MI 49013-9480
Individually Owned
14-yr Hold
Free & Clear
Property ID
US43-2106760
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1993
Total area
12,000 SF
Lot
14.8 ac (644,688 SF)
Zoning code
NO ZONI
APN
80-04-003-022-00
UPID
US43-2106760
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
$517k
Blend (final)
Blend
$515k
Owner & transaction history
Spencer C Hodgman · 14 yrs held
Spencer C Hodgman
since 2012
4 recorded transactions
Zoning & alternative use
NO ZONI · Bangor, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Bangor submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Bangor 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
$515k
Range $464k – $567k · ±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
$43 / 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 2020Property tax & assessments
Tax year 2020
Tax billed
$4,327
Tax year 2020
Assessed value
$91,200
Assessed 2023
Previous assessed
$93,300
-2.3% YoY
Effective rate
4.74%
On assessed value
Total market value
$182,400
Applied tax rate
80,040.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1993
Heating
NONE
Stories
1
Total area
12,000 SF
Lot
14.8 ac (644,688 SF)
Zoning code
NO ZONI
APN
80-04-003-022-00
UPID
US43-2106760
Jurisdiction
VAN BUREN
Zoning & alternative use
NO ZONI · Bangor, MI
Zoning NO ZONI · permitted uses
NO ZONI · Bangor, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Bangor. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1993
Heating
NONE
Stories
1
Lot
14.8 ac
Current owner
From public records · entity-resolved
Spencer C Hodgman
Individual
Free & Clear · 14 yrs held
Mailing address
PO BOX 21, SOUTH HAVEN, MI 49090-0021
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 18, 2023
—
Spencer Hodgman
—
Deed
related
$350,000 · Sturgis Bank & Trust Co
May 28, 2019
—
Spencer C Hodgman
—
Deed
related
$157,554 · Sturgis Bank & Trust Co
Mar 13, 2012
—
Spencer C Hodgman
Megan H Hodgman
Intrafamily Transfer
related
—
Apr 1, 2008
—
Spencer Hodgman
Virginia E Decker
Warranty Deed
$186,410 · Sturgis Bank & Trust Co
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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