Financial
Distress signals
Property profile

51 Chilson Rd Howell, MI 48843

FOR SALE
Other commercial real estate
Property ID
US43-0071811
3,744 SF 0.63 ac lot Built 1940
Last sale Mar 2025 · $785,000
Individually Owned Owner of record is an individual. 1-yr Hold Held for 1 years. Absentee Owner Owner mailing address differs from the property address. Free & Clear No active or open recorded mortgage detected.
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Property summary

AI-generated overview

The property is a flex building configured to support two separate business spaces. The rear portion contains an approximately 1,800-square-foot warehouse area that is unoccupied, and includes a full private basement. The front unit is tenant-occupied on a month-to-month arrangement and provides a reception area, office space, and a bathroom. The building is located on a high-traffic corner at a main intersection with visibility from the surrounding roadways. The exterior is maintenance-free,

Ownership intelligence

Who controls the opportunity?

Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. In the full report.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with the full report.

Mortgages

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — in the full report.

Property tax · 2019

What does the county charge?
$9k
Tax billed · 2019
Assessed value · 2023$301k
Effective rate2.91%

Value estimate

· Sep 2026
$555k
$500k – $611k
Submarket $/SF estimate$555k
NOI build-up
Gross scheduled income$32k
Vacancy & credit loss−$6k
Operating expenses−$8k
NOI · 2.86% cap applied$19k

Realmo valuation models over county records and 6 qualifying comparable sales.

Recently sold

What actually traded nearby?
$131/SF
ZIP average, outlier-cleaned · 114 recorded sales of this use type
Observed band · Q1–Q3$70 – $209
Qualifying comparables6

Cap rate analysis

How does the asset earn?
2.86%
$19k estimated NOI · market benchmarks for this use type

Price anchors at 6 / 6.5 / 7% — in the full report.

Zoning insight

What can be built here?
GCD
JurisdictionLIVINGSTON

Location intelligence

Which uses thrive at this corner?
Best fit: Law Firm
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Law Firm11.2
Realty agency10.6
Wholesale Shop10.0

Location

51 Chilson Rd Howell, MI 48843
County assessor Recorded deeds · 5 transfers 6 qualifying comp sales Zoning catalog

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

6 recorded sales · 6 properties nearby
Recent sales nearby
6 recorded sales in this ZIP, last 8 years
Address Sale price Sold Size
202 Michigan, Howell, MI 48843-3223 $635,000 Feb 2026 4,858 SF
117 Grand Riv, Howell, MI 48843-2236 $489,850 Jun 2025 3,239 SF
117 Michigan, Howell, MI 48843-2201 $213,000 May 2025 3,520 SF
112 Grand Riv, Howell, MI 48843-2268 $492,500 May 2025 4,048 SF
5630 Highland, Howell, MI 48843-9735 $800,000 Jan 2025 3,200 SF
3220 Grand Riv, Howell, MI 48843-8563 $385,000 Jan 2025 2,828 SF
Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.
Comparable nearby
6 properties of the same type nearby
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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