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Property profile & analytics
OFF-MARKET
Drive through restaurants
901 Main St, Chelsea, MI 48118-1330
Entity Owned
19-yr Hold
~
Est. High Equity
Property ID
US43-1619080
Property profile
Verified
Property type
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Year built
1971
Total area
1,800 SF
Lot
1.15 ac (50,094 SF)
Zoning code
C2 GEN
APN
06-06-13-130-008
UPID
US43-1619080
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Spadafore Ltd Family Partnership · 19 yrs held
Spadafore Ltd Family Partnership
since 2007
3 recorded transactions
Zoning & alternative use
C2 GEN · Chelsea, MI
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 Chelsea submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Chelsea 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$12,961
Tax year 2023
Assessed value
$235,100
Assessed 2024
Previous assessed
$237,700
-1.1% YoY
Effective rate
5.51%
On assessed value
Total market value
$470,200
Applied tax rate
6.0000
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
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Status
Off-Market
Year built
1971
Heating
FORCED AIR
Cooling
YES
Total area
1,800 SF
Lot
1.15 ac (50,094 SF)
Zoning code
C2 GEN
APN
06-06-13-130-008
UPID
US43-1619080
Jurisdiction
WASHTENAW
Zoning & alternative use
C2 GEN · Chelsea, MI
Zoning C2 GEN · permitted uses
C2 GEN · Chelsea, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Chelsea. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1971
Heating
FORCED AIR
Cooling
Yes
Lot
1.15 ac
Current owner
From public records · entity-resolved
Spadafore Ltd Family Partnership
Entity
Mailing address
4406 SOMMER LN, STOCKBRIDGE, MI 49285-9495
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 12, 2024
—
Mcw Chelsea LLC
—
Deed
related
$18,266,933 · Zax Enterprises LLC
Dec 29, 2020
—
Spedafore Family Limited Partnershi
—
Deed
related
$1,080,000 · Capitol National Bank
Jan 26, 2007
$407,500
Spadafore Ltd Family Partnership
Lois Lantis
Warranty Deed
$750,000 · Summit Community 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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