Mixed-Use Retail and
For Sale
$1,000,500
100 S Ann Arbor Street, Saline, MI 48176
COMMERCIAL - Saline, MI
Property Size4,594 SF
Lot Size0.15 Acres
Price / SF$217.78
Days on Market529
Property Features for 100 S Ann Arbor Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
D-1
Bathrooms
4
Full bathrooms
4
Rooms
Basement, Bathroom 2, Bathroom 3, Bathroom 1, Bathroom 4
Interior features
Broadband
Subdivision
Crestwood Knolls 2
Elementary school district
Saline
Middle school district
Saline
High school district
Saline
Directions
Between Michigan Avenue and Henry Street.
Standard status
Active
APN
18-18-01-153-030
Size
4,594 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
*OLD SID - 18 18-065-070-00 SC 7-64 LOT 63 ASSESSOR'S PLAT NO. 6.
Tax Annual Amount
20077
Legal Description
*OLD SID - 18 18-065-070-00 SC 7-64 LOT 63 ASSESSOR'S PLAT NO. 6.
Utilities
Utilities
Cable Available
Heating system
Forced Air
Cooling system
Window Unit(s), Central Air
Building Details
Year built
1920
Floors in Building
2
Number of units
4
Building materials
Brick
Listing Agency:
Howard Hanna Real Estate
(734) 761-6600
Listed By:
Christine Faeth · License #6501271635
(734) 646-9080
Added: Mar 1, 2025
Changed: Aug 4
Last Checked: Aug 12 at 11:06AM
MLS# 25007408
Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mixed-use building includes two storefront/retail business spaces and two residential units, each with two bedrooms and one bathroom. The property is described as having been updated within the last couple of years, and the sale is subject to the existing businesses remaining in place and continuing to rent from a new owner.
Located at 100 S Ann Arbor Street in Saline, Michigan, the building totals 4,594 square feet and sits on a 0.15-acre lot.
The current configuration supports both active commercial income and on-site residential rental income, with the two apartments providing an additional layer of use within the same structure.
Located at 100 S Ann Arbor Street in Saline, Michigan, the building totals 4,594 square feet and sits on a 0.15-acre lot.
The current configuration supports both active commercial income and on-site residential rental income, with the two apartments providing an additional layer of use within the same structure.
Key Highlights
- Downtown Saline building with two, 2‑bedroom/1‑bath apartments plus two thriving businesses
- Sale is subject to the businesses staying in place and renting from a new owner
- Brick construction with forced‑air heating and central air (plus window unit(s))
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$62,467
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.24%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,249,340
$1.2M
Cap Rate 7%
$892,386
$892.4K
Cap Rate 9%
$694,078
$694.1K
Market Conditions
NOI Build-Up for 4,594 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$96.5K $21.00/SF
− Vacancy
−$7.2K −$1.58/SF
EGI
$89.2K $19.43/SF
− OpEx
−$26.8K −$5.83/SF
NOI
$62.5K $13.60/SF
Area
Washtenaw County, MI
Vacancy
7.50%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,249,340
Cap Rate 7%
$892,386
Cap Rate 9%
$694,078
Alternative Uses
Best Use
Retail
$892.4K
$780.8K – $1.04M
NOI $62,467 @ 7.0% cap · market cap 6.24%
Second Best
Multifamily LT 5
$859.6K
$752.1K – $1.00M
NOI $60,171 @ 7.0% cap · market cap 6.01%
Theoretical Best
Office A
$1.35M
$1.18M – $1.57M
NOI $94,489 @ 7.0% cap · market cap 9.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
645
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48176, MI
22,833
Population
9,076
Households
2.5
Avg Household Size
44
Median Age
58%
College-Educated
96%
High-School Grad
70.8 sq mi
ZIP Area
323
Density / Sq Mi
$110,987
Median Household Income
$53,263
Median Earnings
$1,161
Median Rent
$384,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Mixed-use building offering two retail businesses and two 2-bedroom, 1-bath apartments.
Where is this storefront property located?
The property is located at 100 S Ann Arbor Street Saline, MI.
What is the asking price?
The asking price for this property is $1,000,500.
What are key features of this property?
This property features: Downtown Saline building with two, 2‑bedroom/1‑bath apartments plus two thriving businesses; Sale is subject to the businesses staying in place and renting from a new owner; Brick construction with forced‑air heating and central air (plus window unit(s))
