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Property profile & analytics
OFF-MARKET
Strip malls
1255 Main St, Chelsea, MI 48118-1418
Entity Owned
12-yr Hold
~
Est. High Equity
Property ID
US43-0457206
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1999
Total area
49,836 SF
Lot
7.19 ac (313,109 SF)
Zoning code
PMU PLA
APN
06-06-13-450-018
UPID
US43-0457206
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
Marsolin Holdings LLC · 12 yrs held
Marsolin Holdings LLC
since 2014
7 recorded transactions
Zoning & alternative use
PMU PLA · 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
$159,779
Tax year 2023
Assessed value
$2,360,800
Assessed 2024
Previous assessed
$3,363,400
-29.8% YoY
Effective rate
6.77%
On assessed value
Total market value
$4,721,600
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1999
Heating
FORCED AIR
Cooling
AC.PACKAGE
Total area
49,836 SF
Lot
7.19 ac (313,109 SF)
Zoning code
PMU PLA
APN
06-06-13-450-018
UPID
US43-0457206
Jurisdiction
WASHTENAW
Zoning & alternative use
PMU PLA · Chelsea, MI
Zoning PMU PLA · permitted uses
PMU PLA · Chelsea, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Chelsea. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1999
Heating
FORCED AIR
Cooling
Yes
Lot
7.19 ac
Current owner
From public records · entity-resolved
Marsolin Holdings LLC
Entity
Mailing address
1228 NOHEA ST, KALAHEO, HI 96741-8736
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 27, 2024
—
Marsolin Holdings LLC
—
Deed
related
—
Mar 12, 2014
—
Marsolin Holdings LLC
Becker A D Living Trust
Warranty Deed
—
Jul 21, 2008
—
Becker Arnold Living Trust
Becker,arnold & Claire
Quit Claim Deed
related
—
Dec 15, 1999
$6,340,000
Arnold D Becker
Chelsea Investors LLC
Grant Deed
$4,000,000 · Bank One Michigan
Nov 5, 1999
$6,340,000
Parvin C Lee
Chelsea Investors LLC
Grant Deed
$4,000,000 · Seller
Nov 17, 1998
—
Chelsea Investors LLC
Village Of Chelsea
Quit Claim Deed
related
—
Sep 25, 1998
$950,000
Chelsea Investors LLC
Michael Papo & Associates
Grant Deed
—
Aug 18, 1998
$950,000
Chelsea Investors LLC
Michael Papo & Associates
Grant Deed
$4,800,000 · Capital Bank NA
—
—
Marsolin Holdings LLC
—
Deed Of Trust
related
$4,800,000 · Natixis R/e Cap
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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