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Property profile & analytics
OFF-MARKET
Estimated value
$1,635,000
Drug stores
935 Main St Chelsea, MI 48118-1330
Trust Owned
7-yr Hold
Free & Clear
Property ID
US43-1693782
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
2001
Total area
10,809 SF
Lot
1.37 ac (59,677 SF)
Zoning code
C2 GEN
APN
06-06-13-130-007
UPID
US43-1693782
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
$1.63M
Blend (final)
Blend
$1.64M
Owner & transaction history
Hower,j C & D W 2003 F & Trust · 7 yrs held
Hower,j C & D W 2003 F & Trust
since 2019
2 recorded transactions
Zoning & alternative use
C2 GEN · Chelsea, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.6M
+31.0%
Commercial (general)
$1.5M
+24.4%
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
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
RETAIL STORES
$1,245,000
Current use
OFFICE BUILDING
$1,630,000
Change: +31% · Conversion: Easy
COMMERCIAL (GENERAL)
$1,545,000
Change: +24% · Conversion: Easy
Blend value · Realmo final
$1.64M
Range $1.47M – $1.80M · ±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
$151 / 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
$61,745
Tax year 2023
Assessed value
$901,700
Assessed 2024
Previous assessed
$1,002,400
-10.0% YoY
Effective rate
6.85%
On assessed value
Total market value
$1,803,400
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
Drug stores
Use group
DRUG STORE, PHARMACY
Status
Off-Market
Year built
2001
Heating
FORCED AIR
Cooling
AC.PACKAGE
Total area
10,809 SF
Lot
1.37 ac (59,677 SF)
Zoning code
C2 GEN
APN
06-06-13-130-007
UPID
US43-1693782
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.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$1.2M
OFFICE BUILDING
Est. value
$1.6M
COMMERCIAL (GENERAL)
Est. value
$1.5M
RETAIL STORES Current
OFFICE BUILDING
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
2001
Heating
FORCED AIR
Cooling
Yes
Lot
1.37 ac
Current owner
From public records · entity-resolved
Hower,j C & D W 2003 F & Trust
Trust
Free & Clear · 7 yrs held
Mailing address
PO BOX 1610, COCKEYSVILLE, MD 21030-7610
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 30, 2019
$3,400,000
Hower,j C & D W 2003 F & Trust
Alexander Fund Xvi-th LLC
Grant Deed
—
Feb 14, 2019
—
Alexander Fund Xvi Th LLC
Scp 2001a Csf 28 LLC
Deed
$61,650,609 · Us Bank NA
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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