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Property profile & analytics
OFF-MARKET
Estimated value
$975,000
Manufacturing properties
13400 Luick Dr, Chelsea, MI 48118-9134
Trust Owned
25-yr Hold
~
Est. High Equity
Property ID
US43-0465711
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1997
Total area
10,000 SF
Lot
2.13 ac (92,783 SF)
Zoning code
LI
APN
G -07-17-300-056
UPID
US43-0465711
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
$974k
Blend (final)
Blend
$975k
Owner & transaction history
Training Trust Fund · 25 yrs held
Training Trust Fund
since 2001
3 recorded transactions
Zoning & alternative use
LI · Chelsea, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.5M
+131.2%
Commercial (general)
$1.4M
+119.7%
Retail stores
$1.2M
+76.5%
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
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$650,000
Current use
OFFICE BUILDING
$1,505,000
Change: +131% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,430,000
Change: +120% · Conversion: Difficult
RETAIL STORES
$1,150,000
Change: +77% · Conversion: Moderate
WAREHOUSE, STORAGE
$850,000
Change: +31% · Conversion: Easy
Blend value · Realmo final
$975k
Range $878k – $1.07M · ±10%
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
$98 / 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
$19,250
Tax year 2023
Assessed value
$505,000
Assessed 2024
Previous assessed
$488,100
+3.5% YoY
Effective rate
3.81%
On assessed value
Total market value
$1,010,000
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1997
Heating
FORCED AIR
Cooling
OTHER
Stories
1
Total area
10,000 SF
Lot
2.13 ac (92,783 SF)
Zoning code
LI
APN
G -07-17-300-056
UPID
US43-0465711
Jurisdiction
WASHTENAW
Zoning & alternative use
LI · Chelsea, MI
Zoning LI · permitted uses
LI · 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.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$650,000
OFFICE BUILDING
Est. value
$1.5M
COMMERCIAL (GENERAL)
Est. value
$1.4M
RETAIL STORES
Est. value
$1.2M
WAREHOUSE, STORAGE
Est. value
$850,000
INDUSTRIAL (GENERAL) Current
OFFICE BUILDING
COMMERCIAL (GENERAL)
RETAIL STORES
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1997
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
2.13 ac
Current owner
From public records · entity-resolved
Training Trust Fund
Trust
Mailing address
13400 LUICK DR, CHELSEA, MI 48118-9134
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2001
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 1, 2001
—
Training Trust Fund
Luick Dr LLC
Grant Deed
related
$497,000 · Tcf National Bank
Jul 29, 1999
—
Luick Drive LLC
Krupp,frieda
Quit Claim Deed
related
—
Jun 3, 1998
—
Luick Drive LLC
Krupp,frieda
Quit Claim Deed
related
$480,000 · Key Bank NA
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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