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Property profile & analytics
OFF-MARKET
Estimated value
$3,120,000
Industrial properties
535 Mansfield St Ypsilanti, MI 48197-5157
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US43-4268822
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1998
Total area
40,000 SF
Lot
4.47 ac (194,670 SF)
Zoning code
SPLIT
APN
11-11-39-335-006
UPID
US43-4268822
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
-
Republic Pharmaceuticals Pharmacy Industrial Manufacturer
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.12M
Owner & transaction history
535 S Mansfield LLC · 3 yrs held
535 S Mansfield LLC
since 2022
Last sale
$3.2M
7 recorded transactions
Zoning & alternative use
SPLIT · Ypsilanti, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$4.6M
+76.5%
Warehouse, storage
$3.4M
+30.6%
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
$2,965,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$2,605,000
Current use
RETAIL STORES
$4,600,000
Change: +77% · Conversion: Moderate
WAREHOUSE, STORAGE
$3,405,000
Change: +31% · Conversion: Easy
Blend value · Realmo final
$3.12M
Range $2.81M – $3.43M · ±10% · vs last sale $3.18M (Dec 22 2022)
Last sale anchor
$3.18M
Dec 22 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
$78 / 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 2019Property tax & assessments
Tax year 2019
Tax billed
$38,293
Tax year 2019
Assessed value
$630,000
Assessed 2024
Previous assessed
$630,000
+0.0% YoY
Effective rate
6.08%
On assessed value
Total market value
$1,260,000
Applied tax rate
11.0000
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
1998
Heating
FORCED AIR
Cooling
OTHER
Buildings
2
Total area
40,000 SF
Lot
4.47 ac (194,670 SF)
Zoning code
SPLIT
APN
11-11-39-335-006
UPID
US43-4268822
Jurisdiction
WASHTENAW
Zoning & alternative use
SPLIT · Ypsilanti, MI
Zoning SPLIT · permitted uses
SPLIT · Ypsilanti, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Ypsilanti. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$2.6M
RETAIL STORES
Est. value
$4.6M
WAREHOUSE, STORAGE
Est. value
$3.4M
INDUSTRIAL (GENERAL) Current
RETAIL STORES
WAREHOUSE, STORAGE
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
1998
Heating
FORCED AIR
Cooling
Yes
Buildings
2
Lot
4.47 ac
Current owner
From public records · entity-resolved
535 S Mansfield LLC
Entity
Mailing address
535 S MANSFIELD ST, YPSILANTI, MI 48197-5157
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
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 22, 2022
$3,175,000
535 S Mansfield LLC
Qc American LLC
Warranty Deed
$1,700,000 · The Huntington National Bank
Dec 12, 2012
$970,000
Qc American LLC
B2 Investments LLC
Warranty Deed
—
Apr 7, 2009
—
B2 Investments LLC
—
Trustees Deed
related
—
Mar 24, 2008
—
B2 Investments LLC
—
Deed Of Trust
related
$5,000,000 · Grand Bank For Savings Fsb
Nov 30, 2007
$1,300,000
B2 Investments LLC
Lewis,richard H & Virginia
Deed Of Trust
$5,000,000 · Grand Bank For Savings Fsb
—
—
B2 Investments LLC
—
Deed Of Trust
related
—
—
—
B2 Investments LLC
—
Deed Of Trust
related
—
—
—
B2 Investments LLC
—
Deed Of Trust
related
—
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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