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Property profile & analytics
OFF-MARKET
Estimated value
$540,000
Office buildings
218 Main St, Chelsea, MI 48118-1268
Entity Owned
18-yr Hold
~
Est. High Equity
Property ID
US43-0102553
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1939
Total area
4,897 SF
Lot
0.12 ac (5,271 SF)
Zoning code
C5 CENT
APN
06-06-12-436-018
UPID
US43-0102553
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
$540k
Blend (final)
Blend
$540k
Owner & transaction history
Maui Properties LLC · 18 yrs held
Maui Properties LLC
since 2007
5 recorded transactions
Zoning & alternative use
C5 CENT · 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
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
$740,000
Current use
COMMERCIAL (GENERAL)
$700,000
Change: -5% · Conversion: Easy
Blend value · Realmo final
$540k
Range $486k – $594k · ±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
$110 / 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
$17,672
Tax year 2023
Assessed value
$305,400
Assessed 2024
Previous assessed
$301,400
+1.3% YoY
Effective rate
5.79%
On assessed value
Total market value
$610,800
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1939
Heating
FORCED AIR
Cooling
AC.PACKAGE
Total area
4,897 SF
Lot
0.12 ac (5,271 SF)
Zoning code
C5 CENT
APN
06-06-12-436-018
UPID
US43-0102553
Jurisdiction
WASHTENAW
Zoning & alternative use
C5 CENT · Chelsea, MI
Zoning C5 CENT · permitted uses
C5 CENT · 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
OFFICE BUILDING Current
Est. value
$740,000
COMMERCIAL (GENERAL)
Est. value
$700,000
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
1939
Heating
FORCED AIR
Cooling
Yes
Lot
0.12 ac
Current owner
From public records · entity-resolved
Maui Properties LLC
Entity
Mailing address
8150 JACKSON RD, ANN ARBOR, MI 48103-9569
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 24, 2018
—
Maui Properties LLC
—
Deed
related
$250,000 · Chelsea St Bk
Dec 31, 2007
$333,000
Maui Properties LLC
Chelsea Land Co
Corporation Deed
$230,000 · Chelsea State Bank
Aug 28, 2007
—
Maui Properties LLC
Chelsea Land
Grant Deed
—
Dec 21, 2006
$210,000
Chelsea Land Co
Amalgamated Local Union #38 U A W B
Warranty Deed
$330,000 · Chelsea State Bank
—
—
Maui Properties LLC
—
Loan Modification
related
$250,000 · Chelsea St Bk
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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