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Property profile & analytics
OFF-MARKET
Automotive properties
1603 Main St, Chelsea, MI 48118-1410
Entity Owned
3-yr Hold
Free & Clear
Property ID
US43-0901953
Property profile
Verified
Property type
Automotive properties
Use group
VEHICLE SALES, RENTALS
Year built
1945
Total area
29,006 SF
Lot
3.63 ac (158,123 SF)
Zoning code
C3 HIG
APN
06-06-13-380-009
UPID
US43-0901953
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
Frhp 4 LLC · 3 yrs held
Frhp 4 LLC
since 2023
3 recorded transactions
Zoning & alternative use
C3 HIG · 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
$41,252
Tax year 2023
Assessed value
$572,500
Assessed 2024
Previous assessed
$625,000
-8.4% YoY
Effective rate
7.21%
On assessed value
Total market value
$1,145,000
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
Automotive properties
Use group
VEHICLE SALES, RENTALS
Status
Off-Market
Year built
1945
Heating
FORCED AIR
Cooling
AC.PACKAGE
Total area
29,006 SF
Lot
3.63 ac (158,123 SF)
Zoning code
C3 HIG
APN
06-06-13-380-009
UPID
US43-0901953
Jurisdiction
WASHTENAW
Zoning & alternative use
C3 HIG · Chelsea, MI
Zoning C3 HIG · permitted uses
C3 HIG · 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
1945
Heating
FORCED AIR
Cooling
Yes
Lot
3.63 ac
Current owner
From public records · entity-resolved
Frhp 4 LLC
Entity
Free & Clear · 3 yrs held
Mailing address
250 PKWY DR STE #270, LINCOLNSHIRE, IL 60069-4346
Ownership since
2023
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
Mar 8, 2023
—
Frhp 4 LLC
Frhp Lincolnshire LLC
Deed
—
Feb 24, 2022
—
Frhp Lincolnshire LLC
Motivated By Sons INC
Special Warranty Deed
—
Oct 27, 2006
—
Gerald L Bridges
Bridges Lloyd F Trust
Quit Claim Deed
related
—
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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