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Property profile & analytics
OFF-MARKET
Estimated value
$1,595,000
Industrial properties
69651 Us Hwy 131 White Pigeon, MI 49099-9464
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US43-2215547
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Total area
47,468 SF
Lot
5.9 ac (257,004 SF)
APN
016-012-062-00
UPID
US43-2215547
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
$1.75M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.60M
Owner & transaction history
Michiana Capital Investment Group L · 3 yrs held
Michiana Capital Investment Group L
since 2023
Last sale
$1.5M
7 recorded transactions
Zoning & alternative use
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 White Pigeon submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs White Pigeon 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
$1,580,000
ML approach
$1,745,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.60M
Range $1.44M – $1.75M · ±10% · vs last sale $1.53M (Jun 5 2023)
Last sale anchor
$1.53M
Jun 5 2023
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
$34 / 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
$12,493
Tax year 2023
Assessed value
$340,600
Assessed 2024
Previous assessed
$275,100
+23.8% YoY
Effective rate
3.67%
On assessed value
Assessed land
$40,700
Assessed improvement
$299,900
Land market value
$81,400
Improvement market value
$599,800
Total market value
$681,200
Applied tax rate
16.0000
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Heating
FORCED AIR
Stories
2
Total area
47,468 SF
Lot
5.9 ac (257,004 SF)
APN
016-012-062-00
UPID
US43-2215547
Jurisdiction
ST JOSEPH
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Heating
FORCED AIR
Stories
2
Lot
5.9 ac
Current owner
From public records · entity-resolved
Michiana Capital Investment Group L
Entity
Mailing address
69651 US HWY 131, WHITE PIGEON, MI 49099-9464
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 5, 2023
$1,525,000
Michiana Capital Investment Group L
Hopeful Harvest Properties LLC
Warranty Deed
$1,525,000 · Lake City Bank
Sep 12, 2022
$995,000
Hopeful Harvest Properties LLC
Joseph D Bowman
Warranty Deed
$2,014,000 · Interra Cu
Feb 22, 2018
$332,500
Joseph D Bowman
White Pigeon Property LLC
Warranty Deed
$800,000 · First State Bank Of Middlebury
Dec 9, 2016
$94,699
Randy G Schmidtendorff
Iris Schmidtendorff
Warranty Deed
related
—
Feb 7, 2013
—
Adam Sobczak
David Harrod
Warranty Deed
—
Feb 13, 2012
$21,119
David Harrod
St Joseph County Treasurer
Redemption Deed
related
—
Jul 12, 2007
$375,000
David Harrod
Mkrjf Enterprises INC
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.
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