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    For Sale (12)

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    Updated Condo in Chelsea, Michigan
    $365,000
    2,140 SF

    Updated Condo in Chelsea, Michigan

    Updated condo with serene views, close to downtown Chelsea.

    109 Village Place Dr, Chelsea, MI 48118
    View details
    Updated Duplex Near Campus
    $229,000

    Updated Duplex Near Campus

    Updated duplex with garage, walkable to campus, leased until 2027.

    805 N Congress St, Ypsilanti, MI 48197
    View details
    Updated Duplex Near Campus
    $239,000

    Updated Duplex Near Campus

    Updated duplex near campus, currently leased until August 2026.

    958 W Cross St, Ypsilanti, MI 48197
    View details
    Updated Duplex Near Campus
    $299,000

    Updated Duplex Near Campus

    Updated duplex near campus with income potential and parking.

    212 N Summit St, Ypsilanti, MI 48197
    View details
    Well-Maintained Duplex in Eberwhite District
    $574,900

    Well-Maintained Duplex in Eberwhite District

    Desirable duplex with updated features in a prime location.

    1716 Orchard St, Ann Arbor, MI 48103
    View details
    Updated Income Property Near Campus
    $339,000

    Updated Income Property Near Campus

    Three-unit property near campus with long-term leases and garage.

    125 N Summit St, Ypsilanti, MI 48197
    View details
    Spacious Home Near Campus
    $249,000
    8,276 SF

    Spacious Home Near Campus

    Five-bedroom home near campus, leased until August 2027.

    705 Pearl St, Ypsilanti, MI 48197
    View details
    Vacant Lot Near Downtown
    Contact for pricing
    6,970 SF

    Vacant Lot Near Downtown

    Vacant land with utilities access, near downtown Ypsilanti.

    448 South Huron St, Ypsilanti, MI 48197
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    West Side Retail/Office Space
    $680,000
    3,242 SF

    West Side Retail/Office Space

    Well-maintained retail/office space in established Ann Arbor location.

    2237-2239 W Liberty St, Ann Arbor, MI 48103
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    Ypsilanti Triplex in Normal Park
    $300,000

    Ypsilanti Triplex in Normal Park

    Well-maintained triplex in prime location, ideal for investors.

    955 W Cross St, Ypsilanti, MI 48197
    View details
    Multi-Purpose Building in Country Setting
    $305,000

    Multi-Purpose Building in Country Setting

    Multi-purpose building in very good condition with resurfaced parking.

    15800 Graves Rd, Pinckney, MI 48169
    View details
    Updated Duplex with Great Parking
    $239,000

    Updated Duplex with Great Parking

    Updated duplex in great condition with long-term leases.

    614 Emmet St, Ypsilanti, MI 48197
    View details

    For Lease (2)

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    Medical Suite in Ypsilanti Township
    $16 SF/Yr

    Medical Suite in Ypsilanti Township

    Remodeled medical suite with exam and X-ray rooms available.

    1649 S Huron St, Ypsilanti, MI 48197
    View details
    Ann Arbor Office Space For Rent
    $1,900 / Mo

    Ann Arbor Office Space For Rent

    Second-floor office space in a desirable Ann Arbor location.

    2200 Green Rd, Ann Arbor, MI 48105
    View details

    Leases and Sales on Map

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    Request Owner's contact information
    Charles Reinhart Company
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    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
    Charles Reinhart Company
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