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Property profile & analytics
OFF-MARKET
Estimated value
$515,000
Banks
255 2nd St, Rochester, MI 48307-2003
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US43-4425991
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
1975
Total area
3,505 SF
Lot
0.76 ac (33,106 SF)
Zoning code
II
APN
68-15-14-108-018
UPID
US43-4425991
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
-
Huntington Insurance Insurance Agency
-
Huntington Bank Bank Loan Service
-
ATM- Huntington National Bank Atm Bank
-
Huntington Bank ATM (Drive-Up) Atm
-
Huntington Mortgage Group Loan Service Bank
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$514k
Blend (final)
Blend
$515k
Owner & transaction history
City Of Rochester Downtown Dev Auth · 1 yrs held
City Of Rochester Downtown Dev Auth
since 2024
7 recorded transactions
Zoning & alternative use
II · Rochester, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$480,000
+30.8%
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 Rochester submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Rochester 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
FINANCIAL BUILDING
$365,000
Current use
RETAIL STORES
$480,000
Change: +31% · Conversion: Difficult
MEDICAL BUILDING
$350,000
Change: -5% · Conversion: Difficult
AUTO REPAIR, GARAGE
$325,000
Change: -11% · Conversion: Difficult
Blend value · Realmo final
$515k
Range $464k – $567k · ±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
$147 / 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
$18,616
Tax year 2023
Assessed value
$604,340
Assessed 2024
Previous assessed
$569,910
+6.0% YoY
Effective rate
3.08%
On assessed value
Total market value
$1,208,680
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
Banks
Use group
FINANCIAL BUILDING
Status
Off-Market
Year built
1975
Heating
ZONE
Cooling
YES
Stories
1
Units
1
Total area
3,505 SF
Lot
0.76 ac (33,106 SF)
Zoning code
II
APN
68-15-14-108-018
UPID
US43-4425991
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
II · Rochester, MI
Zoning II · permitted uses
II · Rochester, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Rochester. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
FINANCIAL BUILDING Current
Est. value
$365,000
RETAIL STORES
Est. value
$480,000
MEDICAL BUILDING
Est. value
$350,000
AUTO REPAIR, GARAGE
Est. value
$325,000
FINANCIAL BUILDING Current
RETAIL STORES
MEDICAL BUILDING
AUTO REPAIR, GARAGE
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
1975
Heating
ZONE
Cooling
Yes
Stories
1
Units
1
Lot
0.76 ac
Current owner
From public records · entity-resolved
City Of Rochester Downtown Dev Auth
Entity
Mailing address
431 S MAIN ST, ROCHESTER, MI 48307-2036
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 13, 2024
—
City Of Rochester Downtown Dev Auth
—
Deed
related
$1,060,000 · Chief Financial FCU
Sep 4, 2024
—
City Of Rochester Downtown Dev Auth
265 Site LLC
Warranty Deed
$1,060,000 · Chief Financial FCU
Jul 23, 2024
$1,100,000
265 Site LLC
Imata Development Associates
Warranty Deed
—
Nov 17, 2023
—
265 Site LLC
Animal Specialties Of Rochester P C
Land Contract
—
Jul 2, 2021
—
Animal Specialties Of Rochester INC
—
Deed
related
$77,900 · The Huntington National Bank
Sep 5, 2019
—
Animal Specialties Of Rochester INC
—
Deed
related
$107,526 · Cibc Bank USA
Dec 30, 2015
—
Rochester Commercial Propertie
Mitzelfeld,william A & Diana J
Warranty Deed
—
Mar 28, 2006
—
Animal Specialties Of Rochester P
Oakland Animal Hospital PC
Quit Claim Deed
related
—
Aug 15, 2002
$265,000
Oakland Animal Hospital
Mitzelfeld Grandchildren Ptshp
Grant Deed
$300,000 · Private Bank
—
—
Karim Jarbo
—
Deed Of Trust
related
$383,840 · Huntington Nat'l Bk
—
—
Animal Specialties Of Rochester P
—
Deed Of Trust
related
$550,000 · Privatebank
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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