Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    400 N First St Ann Arbor, MI 48103

    View on Map
    For Lease
    $12 SF/Yr

    COMMERCIAL - Ann Arbor, MI

    Type:Office
    Property size:
    1,000 SF
    Lot size:
    0.15 Acres
    Added:
    Oct 27, 2025
    Days on Market:
    157
    Last Refresh:
    Apr 1 at 11:06 am

    Property Features for 400 N First St

    General Information

    Property type
    Commercial Lease
    Property subtype
    Office
    Parking
    3
    Fireplace
    1
    Standard status
    Active
    APN
    09-09-29-150-029
    Size
    1,000 SF
    Lot size
    0.15 Acres

    Taxes and HOA fees

    TaxDescription
    N 49 FT OF THE S 55 FT OF LOT 5 B3N, R2E ORIGINAL PLAT OF ANN ARBOR

    Utilities

    Utilities
    Electricity Available
    Heating system
    Forced Air

    Building Details

    Year built
    1901
    Number of units
    1
    Building materials
    Wood Siding

    We can help!

    Listing Contact
    Larry Gotcher
    Larry Gotcher

    Listing agent Larry Gotcher License #6502431234

    Listing office Resource Realty Group 7020 Whitmore Lake Rd, Whitmore Lake, MI

    Listing date Oct 27, 2025

    MLS# 25055928

    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.

    Overview

    Ann Arbor Office Space

    This commercial property, located in Ann Arbor, Michigan, offers office space for rent. The property has a size of 1000 square feet and is situated on a lot of 0.15 acres. It is located in Washtenaw County, with a postal code of 48103.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Freiband Sonya PHD Physician David Freiband Foster Care Service Frank Mindy C Foster Care Service Thomas Payne, LMSW, ... Foster Care Service Ecpweb.Com Tech Support Center

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Hair Salon Dental Office Nail Salon Building Supply Daycare Center Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Ann Arbor
    County
    Washtenaw
    State
    Michigan
    Longitude
    -83.750453
    Latitude
    42.284205

    Nearby Similar for Lease

    • Contact for pricing

      Downtown Ann Arbor Business Opportunity

      Two-level restaurant and cigar lounge in downtown Ann Arbor.
      207 N Main Street, Ann Arbor, MI 48104
      View Details
    • Contact for pricing

      Remodeled Office Building on Main

      Spacious, remodeled office building with parking in accessible Ann Arbor.
      2405 S Main Street, Ann Arbor, MI 48103
      View Details
    • $26/mo

      Retail Space in Stone Plaza

      1,200 SF retail space available in Ann Arbor, MI.
      4001 Stone School Road unit: 4059, Ann Arbor, MI 48108
      View Details
    • $24/mo

      Retail Space in Ann Arbor

      Vacant end-cap unit in a popular strip center.
      4335 Jackson Road, Ann Arbor, MI 48103
      View Details
    • $25/mo

      Ann Arbor First-Floor Office Space

      2,202 SF office space near downtown Ann Arbor and I-94.
      900 Victors Way unit: 180, Ann Arbor, MI 48108
      View Details
    • $16/mo

      Ann Arbor Commercial Space Available

      Office and warehouse space for lease in Ann Arbor.
      1935 S Industrial Highway, Ann Arbor, MI 48104
      View Details
    • $21/mo

      Ann Arbor Yoga/Dance Studio

      Yoga and dance studio available for lease in Ann Arbor.
      2385 S Huron Parkway, Ann Arbor, MI 48104
      View Details
    • $25/mo

      Ann Arbor Office Space

      Office space available for rent in Ann Arbor, Michigan.
      2360 E Stadium Boulevard unit: 15, Ann Arbor, MI 48104
      View Details
    • $28/mo

      Ann Arbor Commercial Space

      Office space available for lease in Ann Arbor, Michigan.
      213 W Liberty Street, Ann Arbor, MI 48104
      View Details
    • $23/mo

      Ann Arbor Office Space Available

      Office space for rent in Ann Arbor, Michigan.
      1342 N Main unit: 6, Ann Arbor, MI 48104
      View Details
    • $28/mo

      Historic Class A Office Space

      Class A office space in Ann Arbor's historic district.
      100 Huronview Boulevard, Ann Arbor, MI 48103
      View Details
    • Sponsored
      Contact for pricing

      MI, Ann Arbor - Frank Lloyd Wright Dr

      24 Frank Lloyd Wright Dr, Unit L-4000, Ann Arbor, MI 48105
      View Details

    FAQs

    What type of property is this?
    Office units - Office space available for lease in Ann Arbor, Michigan.
    Where is this office units located?
    The property is located at 400 N First St Ann Arbor, MI.
    What is the lease rate?
    The lease rate is $12 SF/Yr.
    What are key features of this property?
    This property features: Cozy fireplace for those chilly evenings.; Classic wood siding construction.; Forced air heating.
    (734) 732-3789
    We can help!
    Listing Contact
    Larry Gotcher
    Larry Gotcher
    Real Estate License ID: 6502431234
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!