Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    924 Michigan Ave Paw Paw, MI 49079-1277
    Property profile & analytics

    924 Michigan Ave Paw Paw, MI 49079-1277

    View on Map
    • Outlet malls
    • 8,064 SF
    Off-Market
    Property ID
    US43-2412701
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Outlet malls

    Property Details for 924 Michigan Ave

    Property size
    8,064 SF
    Property type
    Outlet malls
    Property subtype
    Shopping centers
    APN
    80-41-999-020-00
    APU
    804199902000

    Description

    This 8,125-square-foot retail space presents a unique investment opportunity in Paw Paw, Van Buren County, Michigan. Previously occupied by a Dollar General, the property boasts a spacious, open showroom, a sizable back store room, and two restrooms. The building's layout is highly adaptable, making it suitable for a variety of commercial uses. Its location within a thriving commercial corridor ensures high visibility and accessibility. Situated conveniently along a major commuter route connecting Mattawan and Kalamazoo, the property benefits from significant traffic flow. Proximity to Paw Paw High School (just 1.5 miles away) further enhances its appeal. The property is zoned B-2 within the Paw Paw Village limits, allowing for a diverse range of permitted uses, including retail, wholesale, office, winery, and home improvement businesses. Furthermore, the possibility of obtaining a special use permit expands the potential uses even further, offering considerable flexibility for future development. The entire 8,125 square feet is currently vacant, providing immediate occupancy for a new tenant. This property represents a compelling opportunity for businesses seeking a well-located, adaptable space in a growing community.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Paw Paw
    County
    Van Buren
    State
    Michigan
    Longitude
    -85.8777
    Latitude
    42.2187
    CBSA code
    28020
    CBSA name
    KALAMAZOO-PORTAGE, MI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2020
    $7,463
    $0.00
    $0.00
    $103,200
    -
    $0.00
    $0.00
    $206,400

    Comparable in this City

    • Value Estimation
      $585,000
      13,600 SF

      1038 Michigan Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 13,600 SF
      1038 Michigan Ave, Paw Paw, MI 49079-9464
      View Details
    • Value Estimation
      $1,230,000
      9,100 SF

      711 Michigan Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 9,100 SF
      711 Michigan Ave, Paw Paw, MI 49079-1217
      View Details
    • Value Estimation
      $515,000
      11,990 SF

      822 Michigan Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 11,990 SF
      822 Michigan Ave, Paw Paw, MI 49079-1215
      View Details
    • Value Estimation
      $645,000
      15,000 SF

      33310 M 43

      WHOLESALE OUTLET, DISCOUNT STORE • 15,000 SF
      33310 M 43, Paw Paw, MI 49079-8453
      View Details
    • Value Estimation by Request
      7,000 SF

      37445 Red Arrow Hwy

      WHOLESALE OUTLET, DISCOUNT STORE • 7,000 SF
      37445 Red Arrow Hwy, Paw Paw, MI 49079-9382
      View Details
    • Value Estimation
      $6,585,000
      119,245 SF

      La Grave St

      WHOLESALE OUTLET, DISCOUNT STORE • 119,245 SF
      La Grave St, Paw Paw, MI 49079
      View Details

    Similar Nearby for Sale

    • $324,814
      Pending

      Paw Paw Commercial Opportunity

      Visible storefront with acreage and pole barn near Red Arrow.
      1022 E Michigan Ave, Paw Paw, MI 49079
      View Details
    • $299,000
      3,054 SF

      Paw Paw Commercial Building on Acreage

      Commercial building with fenced storage, outbuilding, and high-traffic location.
      1011 E Michigan Ave, Paw Paw, MI 49079
      View Details
    • $249,900
      Pending

      Paw Paw Land For Sale

      16.32 acres zoned R-2 near Central Business district.
      1020 S Kalamazoo St, Paw Paw, MI 49079
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Former Retail Space in Paw Paw

      Former Dollar General in growing commercial corridor near Kalamazoo.
      924 E Michigan Ave, Paw Paw, MI 49079
      View Details
    • $9 SF/Yr

      Move-in Ready Industrial Building

      10,912 SF light industrial building with office space for lease.
      138 Ampey Rd, Paw Paw, MI 49079
      View Details
    • New
      $10 SF/Yr
      10,912 SF

      Move-in Ready Industrial Building

      10,912 SF light industrial building with office space for lease.
      138 Ampey Rd, Paw Paw, MI 49079
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    924 Michigan Ave
    Paw Paw, MI 49079-1277
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    924 Michigan Ave, Paw Paw, MI, 49079
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!