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Property profile & analytics
OFF-MARKET
Estimated value
$1,115,000
Distribution centers
5345 Michigan Ave Ypsilanti, MI 48197-4900
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US43-5188294
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1970
Total area
10,500 SF
Lot
5.5 ac (239,580 SF)
APN
L -12-24-200-022
UPID
US43-5188294
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
-
Dch Emergency Truck Services Auto Repair Shop
-
ABC Supply Co., Inc. Big Box & Wholesale Store Building Supply
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.18M
Blend (final)
Blend
$1.12M
Owner & transaction history
Nl W Michigan Mi LLC · 4 yrs held
Nl W Michigan Mi LLC
since 2022
Last sale
$1.1M
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.6M
+77.0%
Commercial (general)
$1.4M
+58.9%
Retail stores
$1.2M
+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
$1,025,000
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
$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
Blend value · Realmo final
$1.12M
Range $1.00M – $1.23M · ±10% · vs last sale $1.10M (May 26 2022)
Last sale anchor
$1.10M
May 26 2022
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
$106 / 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
$60,384
Tax year 2023
Assessed value
$1,276,023
Assessed 2024
Previous assessed
$1,074,000
+18.8% YoY
Effective rate
4.73%
On assessed value
Total market value
$2,552,046
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
1970
Heating
OTHER
Cooling
AC.PACKAGE
Total area
10,500 SF
Lot
5.5 ac (239,580 SF)
APN
L -12-24-200-022
UPID
US43-5188294
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
$895,000
OFFICE BUILDING
Est. value
$1.6M
COMMERCIAL (GENERAL)
Est. value
$1.4M
RETAIL STORES
Est. value
$1.2M
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
1970
Heating
OTHER
Cooling
Yes
Lot
5.5 ac
Current owner
From public records · entity-resolved
Nl W Michigan Mi LLC
Entity
Mailing address
5353 WAYZATA BLVD STE #205, MINNEAPOLIS, MN 55416-1316
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 26, 2022
$1,095,505
Nl W Michigan Mi LLC
Terminal Llogistics II West Mi Ave
Deed
$60,720,000 · Cibc Bank USA
Feb 4, 2021
—
Terminal Logistics II W Michig
Caleast Nat LLC
Grant Deed
—
Jan 7, 2008
$1,580
Caleast Nat LLC
Main Street Associates
Warranty Deed
—
Jan 12, 2004
$1,248,000
Main Street Associates
Roadway Express INC
Grant Deed
—
—
—
Janice M Reaves
—
Deed Of Trust
related
$605,437 · St Joseph Capital Bank
—
—
Main Street Associates
—
Deed Of Trust
related
$300,000 · St Joseph Capital 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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