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Property profile & analytics
OFF-MARKET
Estimated value
$1,865,000
Retail space
311 Main St Chelsea, MI 48118-1218
Entity Owned
Absentee Owner
~
Est. High Equity
Property ID
US43-1334659
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Total area
12,612 SF
Lot
1 ac (43,560 SF)
Zoning code
C5 CENT
APN
06-06-12-111-003
UPID
US43-1334659
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
$1.86M
Blend (final)
Blend
$1.87M
Owner & transaction history
311acdc LLC
311acdc LLC
since 2026
4 recorded transactions
Zoning & alternative use
C5 CENT · Chelsea, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.9M
+31.0%
Commercial (general)
$1.8M
+24.4%
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
RETAIL STORES
$1,450,000
Current use
OFFICE BUILDING
$1,900,000
Change: +31% · Conversion: Easy
COMMERCIAL (GENERAL)
$1,805,000
Change: +24% · Conversion: Easy
Blend value · Realmo final
$1.87M
Range $1.68M – $2.05M · ±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
$148 / 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
$30,191
Tax year 2023
Assessed value
$851,000
Assessed 2024
Previous assessed
$825,900
+3.0% YoY
Effective rate
3.55%
On assessed value
Total market value
$1,702,000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Heating
FORCED AIR
Cooling
YES
Total area
12,612 SF
Lot
1 ac (43,560 SF)
Zoning code
C5 CENT
APN
06-06-12-111-003
UPID
US43-1334659
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
RETAIL STORES Current
Est. value
$1.5M
OFFICE BUILDING
Est. value
$1.9M
COMMERCIAL (GENERAL)
Est. value
$1.8M
RETAIL STORES Current
OFFICE BUILDING
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
Heating
FORCED AIR
Cooling
Yes
Lot
1 ac
Current owner
From public records · entity-resolved
311acdc LLC
Entity
Mailing address
320 N MAIN ST, ANN ARBOR, MI 48104-1127
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2026
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
Jan 28, 2026
—
311acdc LLC
Chelsea Main Street Building LLC
Deed
—
Dec 4, 2018
—
Chelsea Main Street Bldg LLC
—
Grant Deed
related
$4,700,000 · Chelsea St Bk
Oct 14, 2008
—
Main Street Building L Chelsea
—
Deed Of Trust
related
$6,600,000 · Tcf National Bank
—
—
Main Street Building L Chelsea
—
Deed Of Trust
related
$3,500,000 · United Bank & Trust Co
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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