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Property profile & analytics
OFF-MARKET
Estimated value
$1,490,000
Commercial real estate
18600 Old Us Hwy 12, Chelsea, MI 48118-9645
Individually Owned
1-yr Hold
Free & Clear
Property ID
US43-1630548
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1985
Total area
23,136 SF
Lot
3.46 ac (150,718 SF)
Zoning code
I
APN
F -06-22-200-023
UPID
US43-1630548
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
$1.64M
Blend (final)
Blend
$1.49M
Owner & transaction history
Gerard P Glinsky · 1 yrs held
Gerard P Glinsky
since 2025
Last sale
$1.4M
7 recorded transactions
Zoning & alternative use
I · 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
Method
Estimation
Statistic approach
$1,350,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.49M
Range $1.34M – $1.64M · ±10% · vs last sale $1.41M (May 2 2025)
Last sale anchor
$1.41M
May 2 2025
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
$64 / 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
Assessed value
$651,400
Assessed 2024
Previous assessed
$598,200
+8.9% YoY
Total market value
$1,302,800
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
1985
Heating
FORCED AIR
Total area
23,136 SF
Lot
3.46 ac (150,718 SF)
Zoning code
I
APN
F -06-22-200-023
UPID
US43-1630548
Jurisdiction
WASHTENAW
Zoning & alternative use
I · Chelsea, MI
Zoning I · permitted uses
I · 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
1985
Heating
FORCED AIR
Lot
3.46 ac
Current owner
From public records · entity-resolved
Gerard P Glinsky
Individual
Free & Clear · 1 yrs held
Mailing address
80 S ARCH BAY DR, ANN ARBOR, MI 48108-8673
Ownership since
2025
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
May 2, 2025
$1,413,125
Gerard P Glinsky
Venshure Holdings LLC
Warranty Deed
—
Mar 5, 2025
—
Gerard P Glinsky
Vp 18600 Us12 LLC
Deed
related
—
Sep 25, 2019
$740,000
Vp 18600 Us 12 LLC
Dmf Holdings I LLC
Warranty Deed
—
Apr 1, 2015
$731,950
Elite Arms INC
Tuttle Thomas J Trust
Warranty Deed
—
Apr 1, 2015
—
Dmf Holdings I LLC
Elite Arms INC
Warranty Deed
—
Jun 27, 2012
—
Elite Arms INC
Tuttle Thomas J Trust
Grant Deed
related
—
Sep 8, 2010
—
Tuttle Thomas J Trust
Tuttle,thomas J & Janet M
Quit Claim Deed
related
—
Jun 8, 2009
—
Tuttle Thomas J Trust
Tuttle,thomas J & Janet M
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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