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Property profile & analytics
FOR LEASE
Office buildings
24 Frank Lloyd Wright Dr l-4000 Ann Arbor, MI 48105
Entity Owned
14-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US43-1647875
For Lease
1 / 19
$129-$17,653/Mo
24 Frank Lloyd Wright Dr,Unit l-4000, Ann Arbor, MI 48105
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Total area
919,507 SF
Lot
15.4 ac (670,824 SF)
Zoning code
RC
APN
I -09-12-300-021
UPID
US43-1647875
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
-
Carpenter James E MD Physician
-
Ave Maria Fine Art Gallery Art Gallery
-
Raymond James Financial Services Financial Advisor
-
Myler & Szczypka PC Tax Preparation
-
Michigan Medicine University of Michigan Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$59.08M
Blend (final)
Blend
$59.08M
Owner & transaction history
Dominos Farms Office Park LLC · 14 yrs held
Dominos Farms Office Park LLC
since 2011
4 recorded transactions
Zoning & alternative use
RC · Ann Arbor, MI
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
Blend value · Realmo final
$59.08M
Range $53.17M – $64.99M · ±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
$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
Tax billed
$723,121
Tax year 2023
Assessed value
$16,009,000
Assessed 2024
Previous assessed
$15,529,500
+3.1% YoY
Effective rate
4.52%
On assessed value
Total market value
$32,018,000
Applied tax rate
8,101.0000
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
For Lease
Heating
FORCED AIR
Cooling
OTHER
Buildings
2
Total area
919,507 SF
Lot
15.4 ac (670,824 SF)
Zoning code
RC
APN
I -09-12-300-021
UPID
US43-1647875
Jurisdiction
WASHTENAW
Zoning & alternative use
RC · Ann Arbor, MIZoning RC · permitted uses
RC · Ann Arbor, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
udc edition 11a 8 10 25
Building & site characteristics
From public records
Heating
FORCED AIR
Cooling
Yes
Buildings
2
Lot
15.4 ac
Current owner
From public records · entity-resolved
Dominos Farms Office Park LLC
Entity
Mailing address
14400 METCALF AVE, OVERLAND PARK, KS 66223-2989
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2011
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
Sep 26, 2011
—
Dominos Farms Office Park LLC
—
Deed Of Trust
related
$76,732,677 · Comerica Bank
Dec 22, 1998
—
Domino's Farms Office Park LP
—
Deed Of Trust
related
$28,500,000 · N B D Bank NA
—
—
Dominos Farms Office Park LLC
—
Loan Modification
related
$35,500 · Comerica Bk
—
—
Dominos Pizza INC
—
Deed Of Trust
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.
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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