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Property profile & analytics
FOR LEASE
Office buildings
2405 S Main St, Ann Arbor, MI 48103
Individually Owned
26-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US43-0457813
For Lease
1 / 23
$4,000/Mo
2405 S Main St, Ann Arbor, MI 48103
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1933
Total area
1,860 SF
Lot
0.39 ac (16,771 SF)
Zoning code
O
APN
09-12-05-100-018
UPID
US43-0457813
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
-
Heidi Kussurelis Insurance Insurance Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Kussurelis,thomas C & Heidi A · 26 yrs held
Kussurelis,thomas C & Heidi A
since 1999
3 recorded transactions
Zoning & alternative use
O · Ann Arbor, 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 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$8,893
Tax year 2023
Assessed value
$181,200
Assessed 2024
Previous assessed
$172,600
+5.0% YoY
Effective rate
4.91%
On assessed value
Total market value
$362,400
Applied tax rate
9.0000
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
Year built
1933
Heating
FORCED AIR
Buildings
2
Stories
2
Rooms
5
Bathrooms
2
Total area
1,860 SF
Lot
0.39 ac (16,771 SF)
Zoning code
O
APN
09-12-05-100-018
UPID
US43-0457813
Jurisdiction
WASHTENAW
Zoning & alternative use
O · Ann Arbor, MI
Zoning O · permitted uses
O · Ann Arbor, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Ann Arbor. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1933
Heating
FORCED AIR
Stories
2
Buildings
2
Rooms
5
Bathrooms
2
Lot
0.39 ac
Current owner
From public records · entity-resolved
Kussurelis,thomas C & Heidi A
Individual
Mailing address
2742 COLONY RD, ANN ARBOR, MI 48104-6559
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
1999
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 8, 1999
$158,000
Kussurelis,thomas C & Heidi A
Lindemann,glen
Trustees Deed
$142,200 · Huron Valley Financial INC
Nov 8, 1999
$120,000
Lindemann,glen
Eisemann,gerald E & Susan I
Trustees Deed
—
—
—
Tkhk LLC
—
Deed Of Trust
related
$380,000 · Comerica 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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