Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • 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

    3879 Packard St Ann Arbor, MI 48108

    Loading data...
    Loading data...
    Loading data...
    For Lease
    $370 /Mo

    Specialty property available for rent on Packard Street.

    Lot size:
    2.46 Acres

    Property Features for 3879 Packard St

    General Information

    Lot size
    2.46 Acres

    Building Details

    Year built
    1997

    We can help!

    Listing Contact
    Agboola Olojo
    Source: Elliman

    Listing Agent: Agboola Olojo

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Packard Street Specialty Property

    Located on Packard Street, this specialty property is available for rent. The property is suitable for various business uses.
    Location Intelligence

    Current Use by Public Records

    iMotionPlus Graphic Designer Helpsource: Im David ... Psychologist Joak American Home ... Assisted Living Facility Dr. Ravi A. Kirbat, ... Doctor Dr. Leon J. ... Psychiatrist

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Ann Arbor
    County
    Washtenaw
    State
    Michigan
    Longitude
    -83.682116
    Latitude
    42.246026

    Nearby Similar for Lease

    • $25 SF/Yr
      2,202 SF

      Ann Arbor First-Floor Office Space

      2,202 SF office space near downtown Ann Arbor and I-94.
      900 Victors Way, Ann Arbor, MI 48108
      View Details
    • $24 SF/Yr
      2,000 SF

      Remodeled Office Building on Main

      Spacious Ann Arbor office building with modern amenities for lease.
      2405 S Main St, Ann Arbor, MI 48103
      View Details
    • $12 SF/Yr
      1,000 SF

      Ann Arbor Office Space

      Office space available for lease in Ann Arbor, Michigan.
      400 N 1St St, Ann Arbor, MI 48103
      View Details
    • $24 SF/Yr
      15,000 SF

      Retail Space in Ann Arbor

      Vacant end-cap unit in a popular strip center.
      4335 Jackson Rd, Ann Arbor, MI 48103
      View Details
    • $16 SF/Yr
      20,496 SF

      Ann Arbor Commercial Space Available

      Office and warehouse space for lease in Ann Arbor.
      1935 S Industrial Hwy, Ann Arbor, MI 48104
      View Details
    • $23 SF/Yr
      1,600 SF

      Ann Arbor Office Space Available

      Office space for rent in Ann Arbor, Michigan.
      1342 N Main St, Ann Arbor, MI 48104
      View Details
    • $20 SF/Yr
      3,200 SF

      Ann Arbor Shell Space Available

      Shell space in established mixed-use complex on N. Main St.
      1342 N Main St, Ann Arbor, MI 48104
      View Details
    • New
      $25 SF/Yr
      1,300 SF

      Ann Arbor Office Space

      Office space available for rent in Ann Arbor, Michigan.
      2360 E Stadium Blvd, Ann Arbor, MI 48104
      View Details
    • $2,500 /Mo
      1,173 SF

      Modern Condo with High-End Finishes

      Renovated 2 bed, 2 bath condo with modern amenities.
      2124 Pauline Blvd, Ann Arbor, MI 48103
      View Details
    • $28 SF/Yr
      13,022 SF

      Unique Flex/Office Property For Rent

      High-end flex/office space with modern amenities and street presence.
      2420 Oak Valley Dr, Ann Arbor, MI 48103
      View Details
    • $18 SF/Yr
      1,070 SF

      Downtown Ann Arbor Office Suite

      1,070 SF office suite in downtown Ann Arbor.
      Ann Arbor, MI
      View Details
    • $16 SF/Yr
      11,934 SF

      Ann Arbor Retail/Office Space

      High-quality retail and office space in a prime Ann Arbor location.
      355 S Zeeb Rd, Ann Arbor, MI 48103
      View Details

    FAQs

    What type of property is this?
    Specialty property - Specialty property available for rent on Packard Street.
    Where is this specialty property located?
    The property is located at 3879 Packard St Ann Arbor, MI.
    What are key features of this property?
    This property features: - Specialty property available for rent.; - Located on Packard Street.; - Built in 1997.
    (313) 377-7525
    Request Owner's contact information
    3879 Packard St Ann Arbor, MI 48108
    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.
    3879 Packard St
    Ann Arbor, MI 48108
    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
    3879 Packard St Ann Arbor, MI 48108
    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
    Agboola Olojo
    (313) 377-7525
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.