Entity Owned Property summary
AI-generated overview
This exceptional 17,900-square-foot flex/R&D space is situated within a well-maintained Ann Arbor commerce park. The single-story building, constructed in 1997 and renovated in 2001, offers a total of 28,776 square feet, with up to 17,900 square feet available contiguously. Located at 4401 Varsity Drive, Ann Arbor, MI 48108, this property boasts a prime location, minutes from I-94 and US-23, ensuring convenient access to major transportation arteries. The warehouse area features a generous 16-foot clear ceiling height, enhancing operational efficiency. Loading and unloading are facilitated by one loading dock and two grade-level doors. Durable epoxy flooring adds to the property's functionality. The building also offers attractive exterior features, including a well-maintained facade and the opportunity for prominent monument signage. The property sits on 4.36 acres of land in Washtenaw County, within the Washtenaw W of 23 submarket. This versatile space is ideal for a variety of businesses seeking a functional and strategically located facility in a thriving Ann Arbor market. The property is available for multiple tenants.
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1997
Total area
28,929 SF
Lot
4.36 ac (189,922 SF)
APN
L -12-16-103-045
UPID
US43-1531556
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Production Facility Factory
-
Department Store
-
Laboratory
-
Renovation Specialist General Contractor
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.92M
Blend (final)
Blend
$3.92M
Owner & transaction history
since 2017
3 recorded transactions
Zoning & alternative use
Top alternative use upside
Commercial (general)
$5.7M
+135.8%
Office building
$4.4M
+79.3%
Retail stores
$3.3M
+37.0%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 3 comparables with addresses
5 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
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Summary
1
Valuation conclusion
Included free
Estimated market value
$3.92M
Value range
$3.53M – $4.31M
±10% around blend
Estimated value / SF
$136 / SF
Confidence
Low
3 county-verified comps
Property data
75
Market benchmarks
67
Comparable evidence
30
$3.53M
blend $3.92M
$4.31M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
28,929 SF
Lot area
4.36 ac
Year built
1997
APN
L -12-16-103-045
Assessed value
$1,470,263
Annual tax
$54,062
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Sales comparison
Partial preview
Sales approach indication
$2.39M
Weighted, 3 comps · low confidence
Evidence
3 found · 3 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
16.5 mi away · 35,055 SF
25.0 mi away · 33,720 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$3.92M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 17 sales
$84
+61%
County 41 sales
$65
+108%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $136/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Commercial (general)
Gross theoretical uplift
+136%
vs current-use indication
Office Building
Retail Stores
Warehouse, Storage
Industrial (general) · current use
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Not available
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: replacement-cost inputs are not on file.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 3 sales
Market rates by use type
PDF export
Professional Plan · 30 reports
from $99/month
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Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$1.47M
Move the market yield to see immediate price impact.
Value / SF
$51
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$93k
$1.85M
$1.32M
$1.03M
$103k
$2.06M
$1.47M
$1.14M
$113k
$2.26M
$1.62M
$1.26M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
3 found
Low confidence · county-verified
Closest comparable
$2.20M
1.6 mi · Sep 2025 · $80/SF
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$54,062
Tax year 2023
Assessed value
$1,470,263
Assessed 2024
Previous assessed
$1,461,900
+0.6% YoY
Effective rate
3.68%
On assessed value
Total market value
$2,940,526
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
1997
Heating
OTHER
Cooling
AC.PACKAGE
Total area
28,929 SF
Lot
4.36 ac (189,922 SF)
APN
L -12-16-103-045
UPID
US43-1531556
Jurisdiction
WASHTENAW
Zoning & alternative use
Zoning · permitted uses
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release.
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1997
Heating
OTHER
Cooling
Yes
Lot
4.36 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release — check back, or open Location Intelligence for use analysis of this corner.
Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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