Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    408 Felch St Ann Arbor, MI 48103

    Sponsored
    For Sale
    $524,900

    Vacant Land - Ann Arbor, MI

    Lot size:
    0.56 Acres
    Days on Market:
    19
    Last Refresh:
    Jan 30 at 5:06 pm

    Property Features for 408 Felch St

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Multi-Family,Residential
    APN
    090920318008
    Lot size
    0.56 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Jeff Reiter

    Real Broker LLC (855) 450-0442

    Listing agent Jeff Reiter (248) 541-4900

    Listing date Jan 12, 2026

    MLS# 20251045131 Listing URL

    Copyright © 2026 Realcomp Limited II. 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

    Ann Arbor Vacant Land Opportunity

    This 0.56-acre lot, zoned R2A, presents a development opportunity in the Water Hill neighborhood of Ann Arbor, Michigan, near Kerrytown. The property is suitable for multi-family residential development. The existing structure is considered uninhabitable and likely requires demolition. A shared driveway is present on the lot. Development options include constructing two large homes attached at the garage, similar to neighboring properties, or designing a custom dream home. All information is based on the executors' knowledge.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Hair Salon Dental Office Nail Salon Clothing Store Building Supply Daycare 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
    -83.7510123
    Latitude
    42.2867755

    Nearby Similar for Sale

    • $975,000
      1.10 Acres

      Twin Home on Picturesque Acreage

      Twin home on a one-acre lot, ideal for rental income.
      5183 Christine Dr, Ann Arbor, MI 48103
      View Details
    • $2,100,000
      0.07 Acres

      Luxury Duplex Near Big House

      Ann Arbor duplex/condo, steps from stadium, rental income potential.
      460 W Stadium Blvd, Ann Arbor, MI 48103
      View Details
    • $1,600,000
      5,318 SF

      Mixed-Use Parcel in Ann Arbor

      Two buildings with development potential in the heart of Ann Arbor.
      404 W Liberty St, Ann Arbor, MI 48103
      View Details
    • $2,800,000
      0.15 Acres

      Ann Arbor Multifamily Investment Opportunity

      Historic 11-unit multifamily property near University of Michigan.
      1136 Prospect #1 St, Ann Arbor, MI 48104
      View Details
    • $3,750,000
      0.30 Acres

      Ann Arbor Multifamily Investment Opportunity

      Historic 11-unit property near University of Michigan with development potential.
      1136 Prospect St, Ann Arbor, MI 48104
      View Details
    • $999,950
      Pending

      Ann Arbor Equestrian Facility

      Equestrian facility on 59.97 acres in Ann Arbor, Michigan.
      1436 Honey Run Dr, Ann Arbor, MI 48103
      View Details
    • $1,950,000
      0.28 Acres

      Modernized Duplex Near University of Michigan

      Fully leased duplex near University of Michigan with recent renovations.
      1702 Hill St, Ann Arbor, MI 48104
      View Details
    • $1,500,000
      8,610 SF

      Historic Ann Arbor Property Near Arb

      Spacious 8,610 sqft property near University of Michigan campus.
      1923 Geddes Ave, Ann Arbor, MI 48104
      View Details
    • New
      $560,000
      0.11 Acres

      Charming Duplex in Old West

      Ann Arbor duplex in excellent condition, close to downtown.
      222 Buena Vista Ave, Ann Arbor, MI 48103
      View Details
    • $999,000
      2,101 SF

      Farmstead on 20 Acres

      150-year-old farmstead on two 10-acre parcels near Ann Arbor.
      8620 Scio Church Rd, Ann Arbor, MI 48103
      View Details
    • $825,000
      0.15 Acres

      Ann Arbor Triplex Investment Opportunity

      Meticulously maintained Ann Arbor triplex near stadium with updated units.
      220 W Mosley St, Ann Arbor, MI 48103
      View Details
    • $680,000
      4,532 SF

      Ann Arbor Retail/Office Space

      Well-maintained retail/office space in Ann Arbor's west side.
      2237 W Liberty St, Ann Arbor, MI 48103
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Large lot zoned R2A near Kerrytown, ideal for development.
    Where is this residential land & home lot located?
    The property is located at 408 Felch St Ann Arbor, MI.
    What is the asking price?
    The asking price for this property is $524,900.
    What are key features of this property?
    This property features: - Large .56 acre lot zoned R2A, offering significant development potential.; - Prime location in the desirable Water Hill neighborhood, steps from Kerrytown.; - Multi-family development opportunity (tear down and rebuild).
    (248) 376-1513
    Request Owner's contact information
    408 Felch St Ann Arbor, MI 48103
    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.
    408 Felch St
    Ann Arbor, MI 48103
    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
    408 Felch St Ann Arbor, MI 48103
    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

    We can help!
    Listing Contact
    Jeff Reiter
    (248) 376-1513
    Learn more
    Google sign-in failed. Please try again or use another login method.