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Property profile & analytics
FOR LEASE
Industrial properties
4370 Varsity Dr, Ann Arbor, MI 48108
Entity Owned
5-yr Hold
Absentee Owner
Free & Clear
Property ID
US43-1818904
For Lease
1 / 8
$12 SF/Yr
4370 Varsity Dr, Ann Arbor, MI 48108
View Listing →
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1998
Total area
37,154 SF
Lot
5.95 ac (259,182 SF)
APN
L -12-16-101-026
UPID
US43-1818904
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
-
IndustryStar Solutions LLC (Bike/Boat/Book/etc) Store Corporate Office
-
Solohill Engineering Inc Engineer
-
Franworth Resource Center / Liberty Fulfillment Shipping Company Freight Service
-
Sartorius Stedim North America Inc. Corporate Office
-
We Rock The Spectrum - Ann Arbor Family Recreation Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.04M
Blend (final)
Blend
$5.04M
Owner & transaction history
4370 Varsity LLC · 5 yrs held
4370 Varsity LLC
since 2021
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$7.4M
+135.8%
Office building
$5.6M
+79.3%
Retail stores
$4.3M
+37.0%
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
INDUSTRIAL (GENERAL)
$3,120,000
Current use
COMMERCIAL (GENERAL)
$7,360,000
Change: +136% · Conversion: Difficult
OFFICE BUILDING
$5,595,000
Change: +79% · Conversion: Difficult
RETAIL STORES
$4,275,000
Change: +37% · Conversion: Moderate
WAREHOUSE, STORAGE
$3,160,000
Change: +1% · Conversion: Easy
Blend value · Realmo final
$5.04M
Range $4.53M – $5.54M · ±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
$136 / 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
$120,626
Tax year 2023
Assessed value
$2,340,405
Assessed 2024
Previous assessed
$2,427,100
-3.6% YoY
Effective rate
5.15%
On assessed value
Total market value
$4,680,810
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
For Lease
Year built
1998
Heating
ZONE
Cooling
OTHER
Total area
37,154 SF
Lot
5.95 ac (259,182 SF)
APN
L -12-16-101-026
UPID
US43-1818904
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
$3.1M
COMMERCIAL (GENERAL)
Est. value
$7.4M
OFFICE BUILDING
Est. value
$5.6M
RETAIL STORES
Est. value
$4.3M
WAREHOUSE, STORAGE
Est. value
$3.2M
INDUSTRIAL (GENERAL) Current
COMMERCIAL (GENERAL)
OFFICE BUILDING
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
1998
Heating
ZONE
Cooling
Yes
Lot
5.95 ac
Current owner
From public records · entity-resolved
4370 Varsity LLC
Entity
Free & Clear · 5 yrs held
Mailing address
20416 HARPER AVE, HARPER WOODS, MI 48225-1644
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
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
May 11, 2021
—
4220 Varsity LLC
—
Deed
related
$12,187,500 · Protective Life Ins Co
May 4, 2021
—
4370 Varsity LLC
Aa Commerce Park Jv LLC
Warranty Deed
—
Nov 28, 2018
—
Aa Commerce Park Jv LLC
—
Loan Modification
related
$11,500,000 · Tcf Nat'l Bk
Nov 30, 2017
—
Aa Commerce Park Jv LLC
Csfb 2005-c6 Highland Industri
Grant Deed
related
—
Apr 29, 2014
$18,000,000
Csfb 2005-c6 Highland Industri
Deputy Sheriff Of Washtenaw Cnty
Trustees Deed
—
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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