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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    5345 Michigan Ave Ypsilanti, MI 48197-4900

    • Distribution centers
    • 10,500 SF
    • 5.50 lot acres
    OFF-MARKET
    Last Sale
    May 26, 2022
    $1,095,505
    Value Estimations
    $1,115,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-5188294
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Dch Emergency Truck Services / Auto Repair Shop
    • ABC Supply Co., Inc. / Big Box & Wholesale Store / Building Supply

    Property Details for 5345 Michigan Ave

    Year built
    1970
    Lot size
    5.50 lot acres
    Property size
    10,500 SF
    Property type
    Distribution centers
    APN
    L -12-24-200-022
    APU
    L1224200022

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,025,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,180,000
      Market price range: $609k - $1.18M
      AI Estimate
      $1,180,000
      Market price range: $609k - $1.18M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $895,000
      Current use
      OFFICE BUILDING
      $1,580,000
      Change: +77% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $1,420,000
      Change: +59% Conversion: Difficult
      RETAIL STORES
      $1,210,000
      Change: +35% Conversion: Moderate

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Ypsilanti
    County
    Washtenaw
    State
    Michigan
    Longitude
    -83.6756
    Latitude
    42.2093
    CBSA code
    11460
    CBSA name
    ANN ARBOR, MI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $60,384
    $0.00
    $0.00
    $1,276,023
    -
    $0.00
    $0.00
    $2,552,046

    Comparable in this City

    • Value Estimation
      $2,970,000
      51,236 SF

      3835 Morgan Rd

      DISTRIBUTION WAREHOUSE • 51,236 SF
      3835 Morgan Rd, Ypsilanti, MI 48197-9637
      View Details
    • Value Estimation by Request
      2,254 SF

      3901 Bestech Rd Ste, Unit 400

      DISTRIBUTION WAREHOUSE • 2,254 SF
      3901 Bestech Rd Ste, Ypsilanti, MI 48197-9816
      View Details
    • Value Estimation
      $1,045,000
      12,280 SF

      3914 Bestech Rd

      DISTRIBUTION WAREHOUSE • 12,280 SF
      3914 Bestech Rd, Ypsilanti, MI 48197-2262
      View Details
    • Value Estimation
      $825,000
      7,360 SF

      5070 Carpenter Rd

      DISTRIBUTION WAREHOUSE • 7,360 SF
      5070 Carpenter Rd, Ypsilanti, MI 48197-9618
      View Details
    • Value Estimation by Request
      2,400 SF

      5046 Michigan Ave

      DISTRIBUTION WAREHOUSE • 2,400 SF
      5046 Michigan Ave, Ypsilanti, MI 48197-4997
      View Details
    • Value Estimation
      $1,170,000
      20,180 SF

      4100 Morgan Rd

      DISTRIBUTION WAREHOUSE • 20,180 SF
      4100 Morgan Rd, Ypsilanti, MI 48197-9602
      View Details

    Similar Nearby for Sale

    • $3,750,000
      24,300 SF

      Ypsilanti Industrial Building

      24,300 SF Flex Space, $3.75M
      4163 Morgan Rd, Ypsilanti, MI 48197
      View Details
    • Contact for pricing
      65,400 SF

      Ypsilanti Industrial Buildings

      Two new flex/R&D/warehouse buildings.
      4183 Morgan Rd, Ypsilanti, MI 48197
      View Details
    • Contact for pricing

      Industrial Buildings with Custom Options

      New industrial buildings for sale or lease with custom options.
      4183 E Morgan Rd, Ypsilanti, MI 48197
      View Details
    • Contact for pricing
      1.10 Acres

      Ypsilanti Industrial Land for Sale

      Prime I-94 location, various lot sizes.
      3A 3B & 9, Ypsilanti, MI 48197
      View Details
    • $375,000
      18.80 Acres

      Ypsilanti Township Development Land

      18.8 acres, Mixed-Use Potential
      1879 Michigan Ave, Ypsilanti, MI 48197
      View Details
    • $599,900
      1,207 SF

      Ypsilanti Industrial Lot - Redevelopment Opportunity

      High-traffic corner lot, 0.77 acres, B3 zoning.
      617 Hewitt Rd, Ypsilanti, MI 48197
      View Details

    Similar Nearby for Lease

    • $15 SF/Yr
      65,400 SF

      Ypsilanti Industrial Warehouse Space

      New warehouse space, flexible layouts, Ann Arbor submarket.
      4183 Morgan Rd, Ypsilanti, MI 48197
      View Details
    • $14 SF/Yr
      24,300 SF

      Ypsilanti Industrial Space For Sale/Lease

      Modern industrial building, flexible space options.
      4163 Morgan Rd, Ypsilanti, MI 48197
      View Details
    • Contact for pricing
      40,000 SF

      Industrial Space Available Q4 2026

      40,000 SF industrial space available Q4 2026.
      699 James L Hart Pkwy, Ypsilanti, MI 48197
      View Details
    • $15 SF/Yr

      Industrial Buildings with Custom Options

      Industrial buildings for lease with build-to-suit options available.
      4183 E Morgan Rd, Ypsilanti, MI 48197
      View Details
    • $10 SF/Yr
      31,320 SF

      Versatile Flex Space in Ypsilanti

      Flex space with warehouse and office, near Ann Arbor.
      5000 Carpenter Rd, Ypsilanti, MI 48197
      View Details
    • $19 SF/Yr
      49,672 SF

      Washtenaw Medical Arts Building Suites

      Ann Arbor medical/office suites available.
      3075 Clark Rd, Ypsilanti, MI 48197
      View Details
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    Ypsilanti, MI 48197-4900
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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