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Property profile & analytics
FOR SALE
Office buildings
2000 Hogback Rd, Ann Arbor, MI 48105
Entity Owned
8-yr Hold
Free & Clear
Property ID
US43-1070073
For Sale
1 / 2
$1,990,000
2000 Hogback Rd, Ann Arbor, MI 48105
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1985
Total area
47,250 SF
Lot
15.12 ac (658,627 SF)
APN
L -12-02-120-008
UPID
US43-1070073
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
Current use
Occupant on record · Public records
-
A2 Hosting Data Center IT Consulting Firm
-
Complete Neuropsychology Services Physician Medical Clinic
-
Pasco Property Management Inc Property Management Company
-
Three D Engineering Solutions Employment Agency
-
Dennis Norton Associates Business Management Consultant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$10.70M
Blend (final)
Blend
$10.70M
Owner & transaction history
Washtenaw Building LP · 8 yrs held
Washtenaw Building LP
since 2018
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$9.4M
+31.5%
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 Ann Arbor submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Ann Arbor 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
OFFICE BUILDING
$7,115,000
Current use
COMMERCIAL (GENERAL)
$9,355,000
Change: +31% · Conversion: Easy
Blend value · Realmo final
$10.70M
Range $9.63M – $11.76M · ±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
$226 / 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
$320,171
Tax year 2023
Assessed value
$7,520,169
Assessed 2024
Previous assessed
$8,176,300
-8.0% YoY
Effective rate
4.26%
On assessed value
Total market value
$15,040,338
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
Office buildings
Use group
OFFICE BUILDING
Status
For Sale
Year built
1985
Heating
OTHER
Cooling
AC.PACKAGE
Buildings
4
Total area
47,250 SF
Lot
15.12 ac (658,627 SF)
APN
L -12-02-120-008
UPID
US43-1070073
Jurisdiction
WASHTENAW
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$7.1M
COMMERCIAL (GENERAL)
Est. value
$9.4M
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
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
1985
Heating
OTHER
Cooling
Yes
Buildings
4
Lot
15.12 ac
Current owner
From public records · entity-resolved
Washtenaw Building LP
Entity
Free & Clear · 8 yrs held
Mailing address
2008 HOGBACK RD STE #7, ANN ARBOR, MI 48105-9751
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 23, 2023
—
Hboc LLC
—
Deed
related
$585,000 · Northstar Bank
Apr 18, 2018
—
Washtenaw Building LP
Hboc LLC
Warranty Deed
—
Sep 17, 2013
$8,200,000
Hboc LLC
Hogback Officenter LLC
Deed
$5,400,000 · Northstar Bank
Sep 17, 2013
—
Hogback Officenter LLC
Hogback Officenter
Quit Claim Deed
—
—
—
Hboc LLC
—
Loan Modification
related
$5,800,000 · North Star Bk
—
—
Hogback Officenter
—
Deed Of Trust
related
$3,600,000 · First Of America Bank
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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