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    The Largest CRE Database in the US with Over 1 Million Listings

    1923 Geddes Ave Ann Arbor, MI 48104

    Sponsored
    For Sale
    Under Contract
    $1,500,000

    COMMERCIAL - Ann Arbor, MI

    Type:Office
    Property size:
    8,610 SF
    Lot size:
    0.53 Acres
    Days on Market:
    49
    Last Refresh:
    Jan 27 at 10:06 am

    Property Features for 1923 Geddes Ave

    General Information

    Property type
    Commercial Sale
    Property subtype
    Office
    Standard status
    Active Under Contract
    Rooms
    Bathroom 4, Bathroom 3, Bathroom 1, Bathroom 5, Bathroom 2
    Bathrooms
    5
    APN
    09-09-28-401-009
    Interior features
    Broadband
    Size
    8,610 SF
    Lot size
    0.53 Acres

    Utilities

    Utilities
    Cable Available
    Heating system
    Baseboard, Heat Pump (Heating)
    Cooling system
    Ductless

    Building Details

    Year built
    1923
    Floors in Building
    4
    Number of units
    1

    We can help!

    Listing Contact
    Douglas Allen

    NOMA Real Estate Services (734) 882-8888

    Listing agent Douglas Allen (734) 260-0857

    Listing date Dec 10, 2025

    MLS# 25053253

    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.

    Learn more

    Property Insight Report

    Overview

    Historic Ann Arbor Property Near Arb

    Located in Ann Arbor's cultural and academic district, the property at 1923 Geddes Ave presents an opportunity to own a piece of local history. Constructed in 1923, the building offers 8,610 square feet of space on a 0.53-acre lot. The property features 12 bedrooms and 5 bathrooms, including one full and four half baths, accommodating various living arrangements suitable for large families, group housing, or communal living. Situated near the University of Michigan's central campus and adjacent to Nichols Arboretum, the location provides access to green spaces. Currently the Rudolf Steiner House, the property has served as a cultural and educational hub, hosting community events. Its zoning and layout support multiple uses, from a community center to an educational facility or multi-unit residence. The property's proximity to the University of Michigan enhances its appeal for academic ventures or student housing. Residents and visitors can enjoy walking trails, botanical gardens, and seasonal events at the adjacent Nichols Arboretum. The location also provides access to Ann Arbor's cultural venues, including theaters, museums, and galleries. The property offers potential for preserving its historical significance or reimagining its future.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Waldorf Institute of Southeastern ... Adult Education School Anthroposophical Society In America Association / Organization Physicians Association Association Or Organization

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Hair Salon Nail Salon Dental Office Building Supply Clothing Store Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Ann Arbor
    County
    Washtenaw
    State
    Michigan
    Longitude
    -83.723287
    Latitude
    42.275806

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    FAQs

    What type of property is this?
    Office building - Spacious 8,610 sqft property near University of Michigan campus.
    Where is this office building located?
    The property is located at 1923 Geddes Ave Ann Arbor, MI.
    What is the asking price?
    The asking price for this property is $1,500,000.
    What are key features of this property?
    This property features: - Prime Location: Steps from the University of Michigan's central campus and adjacent to Nichols Arboretum.; - Spacious Layout: **8,000 sq ft with 12 bedrooms and 5 bathrooms**, suitable for various living arrangements or commercial endeavors.; - Versatile Potential: Zoning and layout allow for continued use as a community center, conversion to an educational facility, or multi-unit residence.
    (734) 260-0857
    Request Owner's contact information
    1923 Geddes Ave Ann Arbor, MI 48104
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    Ann Arbor, MI 48104
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    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
    1923 Geddes Ave Ann Arbor, MI 48104
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    We can help!
    Listing Contact
    Douglas Allen
    (734) 260-0857
    Learn more
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