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Property profile & analytics
OFF-MARKET
Medical Office Space
515 Main St Ste 2 Chelsea, MI 48118-1504
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US43-0454353
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1985
Total area
7,511 SF
Lot
0.29 ac (12,545 SF)
Zoning code
O1 OFFI
APN
06-06-12-477-002
UPID
US43-0454353
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
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
Curtis Rentals LLC · 4 yrs held
Curtis Rentals LLC
since 2021
4 recorded transactions
Zoning & alternative use
O1 OFFI · Chelsea, MI
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 Chelsea submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Chelsea 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
$15,404
Tax year 2023
Assessed value
$288,700
Assessed 2024
Previous assessed
$228,000
+26.6% YoY
Effective rate
5.34%
On assessed value
Total market value
$577,400
Applied tax rate
6.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1985
Heating
FORCED AIR
Cooling
AC.PACKAGE
Total area
7,511 SF
Lot
0.29 ac (12,545 SF)
Zoning code
O1 OFFI
APN
06-06-12-477-002
UPID
US43-0454353
Jurisdiction
WASHTENAW
Zoning & alternative use
O1 OFFI · Chelsea, MIZoning O1 OFFI · permitted uses
O1 OFFI · Chelsea, MI
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
1985
Heating
FORCED AIR
Cooling
Yes
Lot
0.29 ac
Current owner
From public records · entity-resolved
Curtis Rentals LLC
Entity
Mailing address
1235 WINIFRED ST, JACKSON, MI 49202-1946
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 16, 2021
$620,000
Curtis Rentals LLC
Lutchka Usitalo Real Estate Company
Warranty Deed
$527,000 · Chelsea State Bank
Dec 26, 2008
$91,619
Option One Mtg Loan Trust 2006-2
Deputy Sheriff Of Washtenaw Count
Trustees Deed
related
—
Mar 19, 2007
—
Lutchka-usitalo R/e Co LLC
Village Professional Ctr LLC
Warranty Deed
—
—
—
Lutchka-usitalo R/e Co LLC
—
Deed Of Trust
related
$120,000 · Chelsea State 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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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