New search
Property profile & analytics
OFF-MARKET
Estimated value
$730,000
Manufacturing properties
2820 Michigan Ave, Ypsilanti, MI 48198-6051
Entity Owned
10-yr Hold
~
Est. High Equity
Property ID
US43-1978564
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1978
Total area
9,500 SF
Lot
5.47 ac (238,273 SF)
APN
K -11-01-300-017
UPID
US43-1978564
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
-
The Niemi Corporation Construction Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$728k
Blend (final)
Blend
$730k
Owner & transaction history
Niemi Holdings LLC · 10 yrs held
Niemi Holdings LLC
since 2016
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.2M
+89.3%
Retail stores
$1.1M
+76.5%
Warehouse, storage
$810,000
+30.6%
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 Ypsilanti submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Ypsilanti 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
INDUSTRIAL (GENERAL)
$620,000
Current use
COMMERCIAL (GENERAL)
$1,170,000
Change: +89% · Conversion: Difficult
RETAIL STORES
$1,095,000
Change: +77% · Conversion: Moderate
WAREHOUSE, STORAGE
$810,000
Change: +31% · Conversion: Easy
Blend value · Realmo final
$730k
Range $657k – $803k · ±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
$77 / 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
Assessed value
$319,500
Assessed 2024
Previous assessed
$299,500
+6.7% YoY
Total market value
$639,000
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1978
Heating
SPACE
Total area
9,500 SF
Lot
5.47 ac (238,273 SF)
APN
K -11-01-300-017
UPID
US43-1978564
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
INDUSTRIAL (GENERAL) Current
Est. value
$620,000
COMMERCIAL (GENERAL)
Est. value
$1.2M
RETAIL STORES
Est. value
$1.1M
WAREHOUSE, STORAGE
Est. value
$810,000
INDUSTRIAL (GENERAL) Current
COMMERCIAL (GENERAL)
RETAIL STORES
WAREHOUSE, STORAGE
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
1978
Heating
SPACE
Lot
5.47 ac
Current owner
From public records · entity-resolved
Niemi Holdings LLC
Entity
Mailing address
6343 CRANE RD, YPSILANTI, MI 48197-9029
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 3, 2021
—
Niemi Holdings LLC
—
Deed
related
$125,000 · Advia Cu
Jun 9, 2016
$480,000
Niemi Holdings LLC
Casa Tubo LLC
Warranty Deed
$340,919 · Advia Cu
Jul 22, 2011
—
Niemi Holdings LLC
Casa Tuba LLC
Grant Deed
—
Apr 7, 2006
—
Casa Tuba LLC
Pra Real Estate LLC
Warranty Deed
—
Nov 12, 2004
$900,000
Pra Real Estate LLC
M & T
Warranty Deed
$700,000 · Citizens First Savings Bank
Apr 22, 2003
—
M & T Co
Peachtree Land Co
Quit Claim Deed
related
$400,000 · Ann Arbor Commerce Bank
Nov 14, 2002
$303,961
Equity Funding Co
M & T Co
Trustees Deed
related
—
—
—
Casa Tubo LLC
—
Deed Of Trust
related
$660,346 · Citizens First Savings 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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 2820 Michigan Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
