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Property profile & analytics
OFF-MARKET
Estimated value
$4,750,000
Office buildings
650 Avis Dr, Ann Arbor, MI 48108-9623
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US43-1701666
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1996
Total area
35,057 SF
Lot
3.58 ac (155,945 SF)
APN
L -12-20-101-002
UPID
US43-1701666
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
-
Hannigan Insurance Insurance Agency
-
May Mobility Corporate Office
-
Innovative Biotherapies Inc Corporate Office
-
Insure Hive Insurance Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.75M
Blend (final)
Blend
$4.75M
Owner & transaction history
1533 Crescent LLC · 5 yrs held
1533 Crescent LLC
since 2021
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$6.9M
+31.5%
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 Ann Arbor submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Ann Arbor 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
OFFICE BUILDING
$5,280,000
Current use
COMMERCIAL (GENERAL)
$6,940,000
Change: +31% · Conversion: Easy
Blend value · Realmo final
$4.75M
Range $4.28M – $5.23M · ±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
$135 / 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
$126,554
Tax year 2023
Assessed value
$2,683,607
Assessed 2024
Previous assessed
$2,597,100
+3.3% YoY
Effective rate
4.72%
On assessed value
Total market value
$5,367,214
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1996
Heating
OTHER
Cooling
AC.PACKAGE
Total area
35,057 SF
Lot
3.58 ac (155,945 SF)
APN
L -12-20-101-002
UPID
US43-1701666
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
OFFICE BUILDING Current
Est. value
$5.3M
COMMERCIAL (GENERAL)
Est. value
$6.9M
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
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
1996
Heating
OTHER
Cooling
Yes
Lot
3.58 ac
Current owner
From public records · entity-resolved
1533 Crescent LLC
Entity
Mailing address
25361 DEQUINDRE RD, MADISON HEIGHTS, MI 48071-4241
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 18, 2021
—
1533 Crescent LLC
Avis Drive Ch LLC
Warranty Deed
$1,300,000 · United Farm Family Life Insurance Compan
Aug 13, 2013
—
Avis Drive Ch LLC
650 Avis Investor LLC
Quit Claim Deed
—
Apr 4, 2003
—
650 Avis Investor LLC
Carlyle/fr Investors LLC
Grant Deed
$2,904,000 · Standard Federal Bank
Nov 12, 1998
—
Caryle/fr Investors LLC INC
First Industrial LP
Grant Deed
$240,000,000 · Jackson National Life Ins Co
May 22, 1998
$3,473,000
Industrial LP First
Avis Centre One LLC
Grant Deed
related
—
May 21, 1998
—
Palm Beach Financial Ventures
Avis Centre Two LLC
Quit Claim Deed
related
—
—
—
650 Avis Investor LLC
—
Deed Of Trust
related
$2,300,000 · Associated 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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