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Property profile & analytics
OFF-MARKET
Estimated value
$5,250,000
Commercial land
350 5th Ave Ann Arbor, MI 48104-2218
Individually Owned
2-yr Hold
Free & Clear
Property ID
US43-0621874
Property profile
Verified
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Lot
0.8 ac (34,848 SF)
Zoning code
D1
APN
09-09-29-404-001
UPID
US43-0621874
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
by Request
Blend (final)
Blend
$5.25M
Owner & transaction history
Ann Arbor Housing Dev Corpoartion · 2 yrs held
Ann Arbor Housing Dev Corpoartion
since 2023
Last sale
$5.3M
7 recorded transactions
Zoning & alternative use
D1 · 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
Method
Estimation
Statistic approach
$5,000,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$5.25M
Range $4.73M – $5.78M · ±10% · vs last sale $5.25M (Sep 27 2023)
Last sale anchor
$5.25M
Sep 27 2023
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
—
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
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
Commercial land
Use group
VACANT COMMERCIAL LAND
Status
Off-Market
Heating
NONE
Lot
0.8 ac (34,848 SF)
Zoning code
D1
APN
09-09-29-404-001
UPID
US43-0621874
Jurisdiction
WASHTENAW
Zoning & alternative use
D1 · Ann Arbor, MI
Zoning D1 · permitted uses
D1 · 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
Heating
NONE
Lot
0.8 ac
Current owner
From public records · entity-resolved
Ann Arbor Housing Dev Corpoartion
Individual
Free & Clear · 2 yrs held
Mailing address
2000 S INDUSTRIAL HWY, ANN ARBOR, MI 48104-6120
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 27, 2023
$6,200,000
Ann Arbor Housing Dev Corpoartion
City Of Ann Arbor
Quit Claim Deed
related
—
Jul 26, 2018
$4,200,000
City Of Ann Arbor
City Of Ann Arbor
Quit Claim Deed
related
—
Apr 3, 2014
$5,250,000
Fifth Fourth LLC
City Of Ann Arbor
Warranty Deed
$3,412,500 · United Bank & Trust Co
May 15, 2012
$90,000
Ann Arbor Transportation Autho
City Of Ann Arbor
Warranty Deed
—
Dec 29, 2003
$3,500,000
Ann Arbor City (mi)
Ann Arbor Ymca
Grant Deed
related
—
Mar 4, 2002
—
Arbor Y Ann
—
Deed Of Trust
related
$1,000,000 · Bank One NA
—
—
Ann Arbor Ymca
—
Deed Of Trust
related
$300,000 · Bank One NA
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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