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Property profile & analytics
OFF-MARKET
Strip malls
3644 Carpenter Rd, Ypsilanti, MI 48197-8590
Entity Owned
11-yr Hold
~
Est. High Equity
Property ID
US43-1332598
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2007
Total area
9,026 SF
Lot
3.07 ac (133,729 SF)
APN
L -12-11-450-031
UPID
US43-1332598
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
-
Smoker's World Inc. (Bike/Boat/Book/etc) Store
-
Leo's Coney Island Restaurant
-
Verizon Telecommunications Service Data Center
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
Hannawa Holdings Bay City LLC · 11 yrs held
Hannawa Holdings Bay City LLC
since 2015
7 recorded transactions
Zoning & alternative use
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 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
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
$80,433
Tax year 2023
Assessed value
$1,882,884
Assessed 2024
Previous assessed
$1,809,300
+4.1% YoY
Effective rate
4.27%
On assessed value
Total market value
$3,765,768
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
2007
Heating
OTHER
Cooling
AC.PACKAGE
Buildings
2
Total area
9,026 SF
Lot
3.07 ac (133,729 SF)
APN
L -12-11-450-031
UPID
US43-1332598
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
Building & site characteristics
From public records
Year built
2007
Heating
OTHER
Cooling
Yes
Buildings
2
Lot
3.07 ac
Current owner
From public records · entity-resolved
Hannawa Holdings Bay City LLC
Entity
Mailing address
4512 S SHR ST, WATERFORD, MI 48328-1162
Ownership since
2015
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 27, 2018
—
Hannawa Holdings Bay City LLC
—
Deed
related
$3,114,645 · Mbank
Sep 1, 2017
—
Hannawa Holdings Bay City LLC
—
Deed
related
$1,200,000 · Mbank
May 18, 2015
—
Hannawa Holdings Bay City LLC
Carpenter Crossings LLC
Grant Deed
—
May 21, 2007
—
Carpenter Crossings LLC
—
Trustees Deed
related
$4,615,500 · Fifth Third Bank
Sep 8, 2006
$2,250,000
Carpenter Crossings LLC
3650 Carpenter LLC
Warranty Deed
$2,025,000 · Fifth Third Bank
May 19, 2006
$1,200,000
3650 Carpenter LLC
Barton Clark P Trust
Warranty Deed
—
—
—
Hannawa Holdings Bay City LLC
—
Loan Modification
related
$3,114,645 · Mbank
—
—
Hannawa Holdings Bay City LLC
—
Deed Of Trust
related
$2,200,000 · Mbank
—
—
Carpenter Crossings LLC
—
Deed Of Trust
related
$2,907,000 · Farmers & Merchants Bk & Tr
—
—
Hannawa Holdings Bay City LLC
—
Loan Modification
related
$1,200,000 · Mbank
—
—
3650 Carpenter LLC
—
Deed Of Trust
related
$1,525,000 · Tcf National 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.
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