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Property profile & analytics
OFF-MARKET
Estimated value
$570,000
Distribution centers
5150 Carpenter Rd Ypsilanti, MI 48197-9618
Entity Owned
22-yr Hold
~
Est. High Equity
Property ID
US43-1235029
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1985
Total area
5,060 SF
Lot
2.84 ac (123,710 SF)
APN
L -12-23-100-010
UPID
US43-1235029
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
-
TSPA Spa & Massage Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$569k
Blend (final)
Blend
$570k
Owner & transaction history
Ram Of Pittsfield LLC · 22 yrs held
Ram Of Pittsfield LLC
since 2003
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$760,000
+77.0%
Commercial (general)
$685,000
+58.9%
Retail stores
$580,000
+35.2%
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 Ypsilanti submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Ypsilanti 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
WAREHOUSE, STORAGE
$430,000
Current use
OFFICE BUILDING
$760,000
Change: +77% · Conversion: Difficult
COMMERCIAL (GENERAL)
$685,000
Change: +59% · Conversion: Difficult
RETAIL STORES
$580,000
Change: +35% · Conversion: Moderate
Blend value · Realmo final
$570k
Range $513k – $627k · ±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
$113 / 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
$16,723
Tax year 2023
Assessed value
$517,131
Assessed 2024
Previous assessed
$474,500
+9.0% YoY
Effective rate
3.23%
On assessed value
Total market value
$1,034,262
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
1985
Heating
OTHER
Cooling
AC.PACKAGE
Stories
1
Total area
5,060 SF
Lot
2.84 ac (123,710 SF)
APN
L -12-23-100-010
UPID
US43-1235029
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
WAREHOUSE, STORAGE Current
Est. value
$430,000
OFFICE BUILDING
Est. value
$760,000
COMMERCIAL (GENERAL)
Est. value
$685,000
RETAIL STORES
Est. value
$580,000
WAREHOUSE, STORAGE Current
OFFICE BUILDING
COMMERCIAL (GENERAL)
RETAIL STORES
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
1985
Heating
OTHER
Cooling
Yes
Stories
1
Lot
2.84 ac
Current owner
From public records · entity-resolved
Ram Of Pittsfield LLC
Entity
Mailing address
5150 CARPENTER RD, YPSILANTI, MI 48197-9618
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2003
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 4, 2021
—
Ram Of Pittsfield LLC
—
Deed
related
—
Jun 26, 2020
—
Ram Of Pittsfield LLC
—
Deed
related
$175,000 · Bank Of Ann Arbor
Sep 11, 2003
$393,000
Ram Of Pittsfield LLC
Consolidated Freightways Corp
Quit Claim Deed
related
$240,000 · Bank Of Ann Arbor
—
—
Ram Of Pittsfield LLC
—
Deed Of Trust
related
—
—
—
Ram Of Pittsfield LLC
—
Loan Modification
related
$175,000 · Bank Of Ann Arbor
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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