Mixed-Use Property with Rural
For Sale
$599,000
8753 Pleasant Lake Road, Ann Arbor, MI 48103
Commercial Sale, Ann Arbor, MI
Property Size1,650 SF
Lot Size26.04 Acres
Price / SF$150.96
Days on Market55
Property Features for 8753 Pleasant Lake Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Res Improved
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bathroom 2, Bathroom 1
Interior features
Broadband
Elementary school
Saline Elementary School
Middle school
Saline Middle School
High school
Saline High School
Elementary school district
Saline
Middle school district
Saline
High school district
Saline
Directions
West of Parker Rd
Standard status
Active
APN
N01424400019
Size
3,968 SF
Lot size
26.04 Acres
Taxes and HOA fees
Tax Description
P T OF E 1/2 SEC 24, T3S-R4E. 26.02 AC. SPLIT ON 10/28/2009 FROM N -14-24-300-005, N -14-24-400-010, N -14-24-400-
Legal Description
P T OF E 1/2 SEC 24, T3S-R4E. 26.02 AC. SPLIT ON 10/28/2009 FROM N -14-24-300-005, N -14-24-400-010, N -14-24-400-
Utilities
Utilities
Propane
Sewer type
Septic Tank
Heating system
Forced Air
Cooling system
Central Air
Water source
Well
Building Details
Year built
1994
Number of units
1
Building materials
Vinyl Siding
Listing Agency:
Key Realty One LLC
(734) 273-9083
Listed By:
Michael Price · License #6501273091
(734) 216-9920
Added: Aug 2
Changed: Sep 12
Last Checked: Sep 25 at 5:06PM
MLS# 26040187
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 property comprises 26.04 acres with an existing building featuring a finished basement, kitchen, large flex area, sunroom, two bathrooms, and office space. The structure was built in 1994 and includes vinyl siding, forced-air heating, central air, broadband, propane service, a private well, and septic infrastructure.
Situated along Pleasant Lake Road in Ann Arbor, the property occupies a rural corridor near the Ann Arbor market. The acreage and existing improvements provide a broad physical setting for consideration of commercial, mixed-use, live-work, event, recreation, education, service, workshop, or agricultural-retail applications, subject to independent verification of zoning, permitted uses, utilities, building requirements, and environmental conditions.
Situated along Pleasant Lake Road in Ann Arbor, the property occupies a rural corridor near the Ann Arbor market. The acreage and existing improvements provide a broad physical setting for consideration of commercial, mixed-use, live-work, event, recreation, education, service, workshop, or agricultural-retail applications, subject to independent verification of zoning, permitted uses, utilities, building requirements, and environmental conditions.
Key Highlights
- 26.04‑acre mixed‑use property along Pleasant Lake Road in Ann Arbor
- Existing building includes finished basement, kitchen, flex area, sunroom, two bathrooms, and office
- Built in 1994 with vinyl siding, forced‑air heating, and central air
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
$46,545
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
7.77%
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%
$930,900
$930.9K
Cap Rate 7%
$664,929
$664.9K
Cap Rate 9%
$517,167
$517.2K
Market Conditions
NOI Build-Up for 3,968 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
$80.9K $20.40/SF
− Vacancy
−$6.5K −$1.63/SF
EGI
$74.5K $18.77/SF
− OpEx
−$27.9K −$7.04/SF
NOI
$46.5K $11.73/SF
Area
Ann Arbor, MI
Vacancy
8.00%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
37.50%
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%
$930,900
Cap Rate 7%
$664,929
Cap Rate 9%
$517,167
Alternative Uses
Best Use
Mixed Use
$664.9K
$581.8K – $775.8K
NOI $46,545 @ 7.0% cap · market cap 7.77%
Second Best
Flex RnD
$540.3K
$472.8K – $630.4K
NOI $37,821 @ 7.0% cap · market cap 6.31%
Theoretical Best
Office A
$876.4K
$766.8K – $1.02M
NOI $61,345 @ 7.0% cap · market cap 10.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2
Businesses Nearby
Explore this area
Business Placement
Demographics for 48103, MI
55,605
Population
25,511
Households
2.2
Avg Household Size
40
Median Age
75%
College-Educated
97%
High-School Grad
66.5 sq mi
ZIP Area
836
Density / Sq Mi
$115,513
Median Household Income
$65,698
Median Earnings
$1,760
Median Rent
$455,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Existing improvements include a finished basement, kitchen, flex area, sunroom, two bathrooms, and office space.
Where is this mixed-use property located?
The property is located at 8753 Pleasant Lake Road Ann Arbor, MI.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 26.04‑acre mixed‑use property along Pleasant Lake Road in Ann Arbor; Existing building includes finished basement, kitchen, flex area, sunroom, two bathrooms, and office; Built in 1994 with vinyl siding, forced‑air heating, and central air
