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Property profile & analytics
OFF-MARKET
Estimated value
$715,000
Specialty properties
4350 Concourse Dr, Ann Arbor, MI 48108-9687
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US43-0871058
Property profile
Verified
Property type
Specialty properties
Use group
PROFESSIONAL CLUBS/ASSOCIATIONS
Year built
1999
Total area
3,120 SF
Lot
1.8 ac (78,408 SF)
APN
L -12-16-200-026
UPID
US43-0871058
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
-
B Young B Fit Gym & Fitness Center
-
The Fitness House Gym & Fitness Center
-
On Track Physiotherapy - Physical Therapy Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$715k
Owner & transaction history
Michigan Certified Development Corp · 1 yrs held
Michigan Certified Development Corp
since 2024
Last sale
$715,000
5 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 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
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
COMMERCIAL (GENERAL)
$620,000
Change: 0% · Conversion: Difficult
OFFICE BUILDING
$470,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$715k
Range $644k – $787k · ±10% · vs last sale $715k (May 5 2024)
Last sale anchor
$715k
May 5 2024
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
$229 / 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
$18,620
Tax year 2023
Assessed value
$524,266
Assessed 2024
Previous assessed
$365,500
+43.4% YoY
Effective rate
3.55%
On assessed value
Total market value
$1,048,532
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
Specialty properties
Use group
PROFESSIONAL CLUBS/ASSOCIATIONS
Status
Off-Market
Year built
1999
Heating
ZONE
Cooling
OTHER
Total area
3,120 SF
Lot
1.8 ac (78,408 SF)
APN
L -12-16-200-026
UPID
US43-0871058
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
COMMERCIAL (GENERAL)
Est. value
$620,000
OFFICE BUILDING
Est. value
$470,000
COMMERCIAL (GENERAL)
OFFICE BUILDING
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
1999
Heating
ZONE
Cooling
Yes
Lot
1.8 ac
Current owner
From public records · entity-resolved
Michigan Certified Development Corp
Entity
Mailing address
2411 OAK VLY DR STE #200, ANN ARBOR, MI 48103-7600
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 8, 2024
—
Michigan Certified Development Corp
Schaible Consulting LLC
Assignment Of Lease (leasehold Sale)
$321,000 · Michigan Certified Development Corporati
Aug 5, 2024
$715,000
A2 Physio Room LLC
The Fitness House Of Michigan LLC
Warranty Deed
$387,500 · First Citizens Bank & Trust Co
Apr 30, 2018
—
The Fitness House Of Michigan LLC
—
Deed
related
$472,000 · Ann Arbor State Bank
Aug 4, 2016
$499,000
Yang Long
Uaw Building Corporation
Warranty Deed
—
—
—
Local Union No 38 Uaw Building
—
Deed Of Trust
related
$234,713 · 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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