New search
Property profile & analytics
OFF-MARKET
Estimated value
$3,085,000
Warehouses
745 State Cir, Ann Arbor, MI 48108-1647
Entity Owned
~
Est. High Equity
Property ID
US43-1349457
Property summary
AI-generated overview
This Ann Arbor industrial property, located at 745 State Circle, offers 70,383 square feet of flexible space ideal for various industrial and warehouse operations. The single, two-story building features 11,652 square feet of immediately available space, divisible to a minimum of 6,200 contiguous square feet. The property boasts a 16-foot ceiling height, enhancing storage and operational efficiency. Convenient loading and unloading is facilitated by two loading docks and two drive-in doors. Situated in the Washtenaw W of 23 submarket, this location provides easy access to major highways I-94 and US-23, optimizing distribution capabilities. The property benefits from ample natural light, new LED lighting throughout, and on-site power. Secure parking with LED lighting is also available. The property is zoned FB and has an APN of L-12-08-400-029. This well-maintained facility is under local ownership and management, offering a reliable and efficient workspace. The property is conveniently located off State Street in Ann Arbor, Michigan, zip code 48108. This is a multi-tenant building.
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1977
Total area
53,188 SF
Lot
6.92 ac (301,435 SF)
APN
L -12-08-400-029
UPID
US43-1349457
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
-
Wolverine Sports (Bike/Boat/Book/etc) Store
-
Schoolmasters Safety Building Supply General Contractor
-
School-Tech Inc (Bike/Boat/Book/etc) Store
-
audio loop solutions Electronics & Wireless Store
-
Schoolmasters Science Marketing & Advertising IT Consulting Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.08M
Blend (final)
Blend
$3.09M
Owner & transaction history
School-tech INC
School-tech INC
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
WAREHOUSE, STORAGE
$4,525,000
Current use
INDUSTRIAL (GENERAL)
$4,465,000
Change: -1% · Conversion: Easy
Blend value · Realmo final
$3.09M
Range $2.78M – $3.39M · ±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
$58 / 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
$59,171
Tax year 2023
Assessed value
$1,107,097
Assessed 2024
Previous assessed
$1,306,100
-15.2% YoY
Effective rate
5.34%
On assessed value
Total market value
$2,214,194
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
1977
Heating
OTHER
Cooling
AC.PACKAGE
Buildings
2
Total area
53,188 SF
Lot
6.92 ac (301,435 SF)
APN
L -12-08-400-029
UPID
US43-1349457
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
$4.5M
INDUSTRIAL (GENERAL)
Est. value
$4.5M
WAREHOUSE, STORAGE Current
INDUSTRIAL (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
1977
Heating
OTHER
Cooling
Yes
Buildings
2
Lot
6.92 ac
Current owner
From public records · entity-resolved
School-tech INC
Entity
Mailing address
745 STATE CIR, ANN ARBOR, MI 48108-1647
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
—
—
School-tech INC
—
Deed Of Trust
related
$250,000 · Bank Of Ann Arbor
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 745 State Cir?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
