Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    700 Industrial Dr Chelsea, MI 48118-1294
    Back to Search
    Property profile & analytics

    700 Industrial Dr, Chelsea, MI 48118-1294

    View on Map
    • Distribution centers
    • 6,059 SF
    • 2.11 lot acres
    Off-Market
    Property ID
    US43-0048674
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Distribution centers

    Property Details for 700 Industrial Dr

    Year built
    1994
    Lot size
    2.11 lot acres
    Zone code
    I-2 LIG
    Property type
    Distribution centers
    APN
    06-06-12-249-022
    APU
    60612249022

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jul 27, 2005 $670,000 Magellan Properties LLC Howard Facilities Co LLC Warranty Deed $628k · Chelsea State Bank
    Feb 23, 1999 — Tlsh LLC — Deed Of Trust · related $1.1M · Chelsea State Bank
    — — Howard Facilites LLC — Deed Of Trust · related $440k · Chelsea State Bank
    — — Howard Facilities Co LLC — Deed Of Trust · related $370k · Chelsea State Bank

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Chelsea
    County
    Washtenaw
    State
    Michigan
    Longitude
    -84.0338
    Latitude
    42.3238
    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
    $18,673
    $0.00
    $0.00
    $364,000
    -
    $0.00
    $0.00
    $728,000

    Comparable in this City

    • Value Estimation
      $2,355,000
      40,600 SF

      740 Industrial Dr

      DISTRIBUTION WAREHOUSE
      740 Industrial Dr, Chelsea, MI 48118-1287
      View Details
    • Value Estimation
      $695,000
      12,000 SF

      720 Industrial Dr

      DISTRIBUTION WAREHOUSE
      720 Industrial Dr, Chelsea, MI 48118-1637
      View Details
    • Value Estimation
      $3,490,000
      60,150 SF

      613 Industrial Dr

      DISTRIBUTION WAREHOUSE
      613 Industrial Dr, Chelsea, MI 48118-1536
      View Details
    • Value Estimation by Request
      5.33 Acres

      123 Buchanan St

      INDUSTRIAL (GENERAL)
      123 Buchanan St, Chelsea, MI 48118-1249
      View Details
    • Value Estimation
      $3,450,000
      55,736 SF

      375 Main St

      INDUSTRIAL LOFT BUILDING
      375 Main St, Chelsea, MI 48118-1269
      View Details
    • Value Estimation
      $980,000
      21,264 SF

      3985 Fletcher Rd

      INDUSTRIAL (GENERAL)
      3985 Fletcher Rd, Chelsea, MI 48118-9207
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Versatile Industrial Space Near Chelsea

      4,130 SF industrial space with office, loading docks, and storage.
      20401 W Old Us Highway 12, Chelsea, MI 48118
      View Details
    • $749,000

      Commercial Building in Lima Township

      Commercial building suitable for various human-service, care-based, or professional uses.
      13920 E Old Us Highway 12, Chelsea, MI 48118
      View Details
    • $229,000
      10.00 Acres

      Chelsea Build-Ready Acreage Parcel

      10 acre parcel ready to build in Chelsea school district.
      Jerusalem Rd, Chelsea, MI 48118
      View Details
    • Contact for pricing

      Mixed-Use Building with Long-Term Tenants

      Fully occupied mixed-use building with diverse, long-term tenants.
      350 N Main St, Chelsea, MI 48118
      View Details
    • Contact for pricing

      Turnkey Restaurant at Robin Hills Farm

      Fully equipped restaurant for lease in Chelsea, Michigan.
      20390 N M-52, Chelsea, MI 48118
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Chelsea Workshop and Office Space

      4,130 SF flex space near Chelsea Fairgrounds.
      20401 W Old Us Highway 12, Chelsea, MI 48118
      View Details
    • Contact for pricing

      Downtown Chelsea Commercial Space Available

      Prime commercial space in downtown Chelsea with restaurant infrastructure.
      115 S Main St, Chelsea, MI 48118
      View Details
    • $16 SF/Yr

      Multi-Tenant Retail Center

      Well-signed retail center with strong visibility and ample parking near downtown Chelsea and I-94 West.
      1145-1171 S Main St, Chelsea, MI 48118
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    700 Industrial Dr
    Chelsea, MI 48118-1294
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    700 Industrial Dr, Chelsea, MI, 48118
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!