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Property profile & analytics
FOR LEASE
Manufacturing properties
699 James L Hart Pkwy, Ypsilanti, MI 48197
Entity Owned
18-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US43-4845384
For Lease
1 / 3
$5,780,000
699 James L Hart Pkwy, Ypsilanti, MI 48197
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Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1994
Total area
85,000 SF
Lot
7.54 ac (328,442 SF)
APN
K -11-16-361-014
UPID
US43-4845384
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
-
ProQuest Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.78M
Blend (final)
Blend
$5.78M
Owner & transaction history
699 Jlp LLC · 18 yrs held
699 Jlp LLC
since 2008
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$7.2M
+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
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
INDUSTRIAL (GENERAL)
$5,540,000
Current use
WAREHOUSE, STORAGE
$7,235,000
Change: +31% · Conversion: Easy
Blend value · Realmo final
$5.78M
Range $5.20M – $6.36M · ±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
$68 / 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
Assessed value
$2,536,600
Assessed 2024
Previous assessed
$2,356,200
+7.7% YoY
Total market value
$5,073,200
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
For Lease
Year built
1994
Heating
SPACE
Cooling
NONE
Buildings
2
Total area
85,000 SF
Lot
7.54 ac (328,442 SF)
APN
K -11-16-361-014
UPID
US43-4845384
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
INDUSTRIAL (GENERAL) Current
Est. value
$5.5M
WAREHOUSE, STORAGE
Est. value
$7.2M
INDUSTRIAL (GENERAL) Current
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
1994
Heating
SPACE
Cooling
Yes
Buildings
2
Lot
7.54 ac
Current owner
From public records · entity-resolved
699 Jlp LLC
Entity
Mailing address
3020 OLD RNCH PKWY STE #200, SEAL BEACH, CA 90740-2796
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2008
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 13, 2020
—
699 Jlp LLC
—
Deed
related
$2,700,000 · Miscellaneous Ins Co
Nov 28, 2018
—
699 Jlp LLC
—
Grant Deed
related
$50,000,000 · Us Bk
Apr 7, 2008
$2,385,525
699 Jlp LLC
Westmor Partners LLC
Grant Deed
—
Nov 1, 2007
—
Westmor Partners LLC
Edwards & Associates Props LLC
Quit Claim Deed
related
—
Oct 15, 2002
—
Edwards & Associates LLC
Becker Properties LLC
Grant Deed
$4,250,000 · Charter One Bank
—
—
699 Jlp LLC
—
Deed Of Trust
related
$2,700,000 · Miscellaneous Ins Co
—
—
699 Jlp LLC
—
Deed Of Trust
related
$225,000 · First Liberty Bank
—
—
699 Jlp LLC
—
Deed Of Trust
related
$3,000,000 · First Liberty Bank
—
—
699 Jlp LLC
—
Deed Of Trust
related
$3,125,000 · First Liberty 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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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