Downtown Ann Arbor Mixed-Use
For Sale
$1,075,000
208 E Washington St, Ann Arbor, MI 48104
Prime location with retail and office/residential potential.
Property Size3,624 SF
Price / SF$296.63
Days on Market133
Property Features for 208 E Washington St
General Information
Standard status
Active
Size
3,624 SF
Property subtype
Multifamily
Zoning
D-1 Mixed-Use Downtown Core
Listing Agency:
Swisher Commercial
Listed By:
Michael Jurgenson, CCIM · License #MI #6506044472
(419) 261-2156
Source:
Swishercommercial
Added: May 27
Changed: Oct 6
Last Checked: Oct 5 at 4:24PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Swisher Commercial
Investment Insights
Based on property information with market context.
Located in downtown Ann Arbor, just off Main Street between Fourth and Fifth Avenue, this 3,624 square foot, two-story building offers exceptional potential. The D1 zoning allows for versatile mixed-use opportunities, including street-level retail and second-floor office or residential conversion. This property is suitable for owner/users or investors looking to capitalize on Ann Arbor’s vibrant downtown market. The building includes a long-term existing street-level retail tenant providing immediate income and prime second-floor office space to lease, convert, or occupy as an owner/user. The property is situated steps from Main Street, surrounded by dining, shopping, and cultural attractions. A parking structure is located just half a block away. This property offers potential and visibility in a high-traffic location.
Key Highlights
- Prime Downtown Ann Arbor location, just off Main Street
- Versatile D1 zoning allows for mixed‑use opportunities
- Existing long‑term street‑level retail tenant provides immediate income
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,510
Cap Rate
3.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$850,200
$850.2K
Cap Rate 7%
$607,286
$607.3K
Cap Rate 9%
$472,333
$472.3K
Market Conditions
NOI Build-Up for 3,624 SF
Gross rent
$73.9K $20.40/SF
− Vacancy
−$5.9K −$1.63/SF
EGI
$68.0K $18.77/SF
− OpEx
−$25.5K −$7.04/SF
NOI
$42.5K $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 Rate 5%
$850,200
Cap Rate 7%
$607,286
Cap Rate 9%
$472,333
Alternative Uses
Best Use
Mixed Use
$607.3K
$531.4K – $708.5K
NOI $42,510 @ 7.0% cap · market cap 3.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$800.4K
$700.3K – $933.8K
NOI $56,026 @ 7.0% cap · market cap 5.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
3,579
Businesses Nearby
Explore this area
Business Placement
Demographics for 48104, MI
41,588
Population
19,173
Households
2.2
Avg Household Size
27
Median Age
82%
College-Educated
98%
High-School Grad
7.8 sq mi
ZIP Area
5,332
Density / Sq Mi
$63,341
Median Household Income
$16,073
Median Earnings
$1,548
Median Rent
$481,600
Median Home Value
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Prime location with retail and office/residential potential.
Where is this mixed-use property located?
The property is located at 208 E Washington St Ann Arbor, MI.
What is the asking price?
The asking price for this property is $1,075,000.
What are key features of this property?
This property features: Prime Downtown Ann Arbor location, just off Main Street; Versatile D1 zoning allows for mixed‑use opportunities; Existing long‑term street‑level retail tenant provides immediate income
