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Property profile & analytics
OFF-MARKET
Medical Office Space
123 Ss St Chelsea, MI 48118-1235
Entity Owned
19-yr Hold
~
Est. High Equity
Property ID
US43-1251223
Property profile
Verified
Property type
Medical Office Space
Use group
DENTAL BUILDING
Year built
1996
Total area
3,797 SF
Lot
0.21 ac (9,148 SF)
Zoning code
C5 CENT
APN
06-06-12-436-022
UPID
US43-1251223
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
by Request
Owner & transaction history
South Street Leasing LLC · 19 yrs held
South Street Leasing LLC
since 2007
7 recorded transactions
Zoning & alternative use
C5 CENT · Chelsea, 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 Chelsea submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Chelsea 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$20,548
Tax year 2023
Assessed value
$385,400
Assessed 2024
Previous assessed
$376,600
+2.3% YoY
Effective rate
5.33%
On assessed value
Total market value
$770,800
Applied tax rate
6.0000
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
Medical Office Space
Use group
DENTAL BUILDING
Status
Off-Market
Year built
1996
Heating
FORCED AIR
Cooling
AC.PACKAGE
Total area
3,797 SF
Lot
0.21 ac (9,148 SF)
Zoning code
C5 CENT
APN
06-06-12-436-022
UPID
US43-1251223
Jurisdiction
WASHTENAW
Zoning & alternative use
C5 CENT · Chelsea, MIZoning C5 CENT · permitted uses
C5 CENT · Chelsea, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1996
Heating
FORCED AIR
Cooling
Yes
Lot
0.21 ac
Current owner
From public records · entity-resolved
South Street Leasing LLC
Entity
Mailing address
123 SS ST, CHELSEA, MI 48118-1235
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 2, 2021
—
South Street Leasing LLC
—
Deed
related
$660,000 · Chelsea State Bank
Sep 5, 2012
—
South Street Leasing LLC
—
Trustees Deed
related
$220,000 · Chelsea State Bank
Jun 20, 2007
$250,000
South Street Leasing LLC
Napski Properties Ltd
Corporation Deed
$111,510 · Chelsea State Bank
Apr 11, 2003
—
Napski Properties Ltd
Napieralski,todd A & Peggy L
Grant Deed
related
—
—
—
Todd A Napieralski
—
Deed Of Trust
related
$495,000 · Old Kent Bank
—
—
Todd A Napieraliska
—
Deed Of Trust
related
$380,000 · Comerica Bank
—
—
South Street Leasing LLC
—
Deed Of Trust
related
$225,000 · Chelsea State Bank
—
—
South Street Leasing LLC
—
Deed Of Trust
related
$454,425 · Chelsea St Bk
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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