Retail/Medical Development
For Sale
Contact for pricing
5960 S State Rd, Ann Arbor, MI 48108
Brand-new retail/medical/office construction with utilities, power, and services already in place for interior buildout.
Property Size6,300 SF
Price / SF$317.46
Days on Market784
Property Features for 5960 S State Rd
General Information
Standard status
Active
Size
6,300 SF
Property subtype
RETAIL
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Listing Agency:
NAI Farbman - Corporate
(248) 353-0500
Listed By:
Ron Goldstone · License #6502102638
(248) 351-4371
Source:
Moodyscre
Added: Aug 29, 2024
Changed: Oct 5
Last Checked: Oct 20 at 10:33PM
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 NAI Farbman - Corporate
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Inglewood Park represents the retail, medical, and office development phase of a PUD. The property features brand-new, state-of-the-art construction with all utilities, power, and services already in place, ready for interior improvements.
The site is located along S. State Rd in front of new single-family homes and condominium units as part of the ongoing development. Avis Farms is across the street and is described as home to many employers. Textile Road has been recently improved with a direct route from Michigan Ave (M-12) to S. State Street.
The area is noted for major retailers including Briarwood Mall, Costco, and Wal Mart. The site is also described as easily accessible to I-94, US-23, Michigan Ave & M-14, supporting a range of retail and medical office uses during buildout.
The site is located along S. State Rd in front of new single-family homes and condominium units as part of the ongoing development. Avis Farms is across the street and is described as home to many employers. Textile Road has been recently improved with a direct route from Michigan Ave (M-12) to S. State Street.
The area is noted for major retailers including Briarwood Mall, Costco, and Wal Mart. The site is also described as easily accessible to I-94, US-23, Michigan Ave & M-14, supporting a range of retail and medical office uses during buildout.
Key Highlights
- Brand‑new retail/medical/office development with utilities, power, and services already in place for interior improvements
- Inglewood Park is the retail/medical/office phase of a PUD development
- Fronts new 106 single‑family homes and 86 condominium units; Phase II is planned for 220 units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$74,617
Cap Rate
3.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,492,340
$1.5M
Cap Rate 7%
$1,065,957
$1.1M
Cap Rate 9%
$829,078
$829.1K
Market Conditions
NOI Build-Up for 6,300 SF
Gross rent
$113.4K $18.00/SF
− Vacancy
−$6.8K −$1.08/SF
EGI
$106.6K $16.92/SF
− OpEx
−$32.0K −$5.08/SF
NOI
$74.6K $11.84/SF
Area
Ann Arbor, MI
Vacancy
6.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,492,340
Cap Rate 7%
$1,065,957
Cap Rate 9%
$829,078
Alternative Uses
Best Use
Retail
$1.07M
$932.7K – $1.24M
NOI $74,617 @ 7.0% cap · market cap 3.73%
Second Best
Office B
$1.01M
$884.7K – $1.18M
NOI $70,779 @ 7.0% cap · market cap 3.54%
Theoretical Best
Office A
$1.39M
$1.22M – $1.62M
NOI $97,397 @ 7.0% cap · market cap 4.87%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
67
Businesses Nearby
Explore this area
Business Placement
Demographics for 48108, MI
26,639
Population
12,508
Households
2.1
Avg Household Size
37
Median Age
65%
College-Educated
96%
High-School Grad
16.8 sq mi
ZIP Area
1,586
Density / Sq Mi
$80,425
Median Household Income
$46,434
Median Earnings
$1,316
Median Rent
$378,300
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Retail space - Brand-new retail/medical/office construction with utilities, power, and services already in place for interior buildout.
Where is this retail space located?
The property is located at 5960 S State Rd Ann Arbor, MI.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: Brand‑new retail/medical/office development with utilities, power, and services already in place for interior improvements; Inglewood Park is the retail/medical/office phase of a PUD development; Fronts new 106 single‑family homes and 86 condominium units; Phase II is planned for 220 units
