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Property profile & analytics
OFF-MARKET
Estimated value
$700,000
Office buildings
2035 Hogback Rd Ann Arbor, MI 48105-9490
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US43-1265961
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1972
Total area
5,515 SF
Lot
0.47 ac (20,473 SF)
APN
L -12-01-200-017
UPID
US43-1265961
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
-
Eastern Arts Therapeutic Massage Alternative Medicine Practice Spa & Massage Center
-
Ureno Gill Counselor
-
Debbie Miller, LMSW Counselor Psychotherapist
-
Sallie Parker, LMSW, ACSW, MA Foster Care Service Social Service Agency
-
Sweeney Law Bankruptcy Attorneys Law Firm Financial Advisor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$778k
Blend (final)
Blend
$700k
Owner & transaction history
Great Arbor Properties INC · 4 yrs held
Great Arbor Properties INC
since 2022
Last sale
$662,500
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.1M
+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
$620,000
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
$830,000
Current use
COMMERCIAL (GENERAL)
$1,090,000
Change: +31% · Conversion: Easy
Blend value · Realmo final
$700k
Range $630k – $770k · ±10% · vs last sale $663k (Feb 8 2022)
Last sale anchor
$663k
Feb 8 2022
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
$127 / 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
$24,159
Tax year 2023
Assessed value
$439,628
Assessed 2024
Previous assessed
$429,700
+2.3% YoY
Effective rate
5.50%
On assessed value
Total market value
$879,256
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
Off-Market
Year built
1972
Heating
ZONE
Cooling
OTHER
Total area
5,515 SF
Lot
0.47 ac (20,473 SF)
APN
L -12-01-200-017
UPID
US43-1265961
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
$830,000
COMMERCIAL (GENERAL)
Est. value
$1.1M
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
1972
Heating
ZONE
Cooling
Yes
Lot
0.47 ac
Current owner
From public records · entity-resolved
Great Arbor Properties INC
Entity
Mailing address
2911 CARPENTER RD, ANN ARBOR, MI 48108-1163
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 8, 2022
$662,500
Great Arbor Properties INC
Fred L Arnold
Warranty Deed
—
Aug 16, 2019
—
Fred L Arnold
—
Trustees Deed
related
$495,000 · Old Nat'l Bk
—
—
Fred L Arnold
—
Deed Of Trust
related
$350,000 · Comerica Bank
—
—
Fred L Arnold
—
Deed Of Trust
related
$1,708,445 · Towner Mary L Trust
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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