Office Condo with Covered
For Sale
Contact for pricing
1310 S Main St, Ann Arbor, MI 48103
Efficient office layout includes reception, private offices, a conference room, work area, and kitchenette.
Property Size1,448 SF
Price / SF$341.85
Days on Market10
Property Features for 1310 S Main St
General Information
Standard status
Active
Size
1,448 SF
Total Parking Spaces
3
Property subtype
OFFICE
Site & Location
Highway Access
Yes
Public Transit
Yes
Listing Agency:
Colliers - Ann Arbor
(734) 994-3100
Listed By:
James H. Chaconas
(734) 994-3100
Source:
Moodyscre
Added: Aug 24
Changed: Aug 29
Last Checked: Sep 1 at 7:07PM
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 Colliers - Ann Arbor
Investment Insights
Based on property information with market context.
This 1,448-square-foot office condominium at Stadium Commons Condominium offers a practical professional layout with reception space, private offices, a conference room, dedicated workspace, and a kitchenette. The mixed-use property is professionally managed and includes three reserved covered parking spaces, along with additional on-street parking for employees and visitors.
The office is positioned for access to downtown Ann Arbor, the University of Michigan, Michigan Medicine, major highways, and public transit. Its combination of defined work areas, meeting space, and parking supports a range of owner-user office operations within a managed condominium setting.
The office is positioned for access to downtown Ann Arbor, the University of Michigan, Michigan Medicine, major highways, and public transit. Its combination of defined work areas, meeting space, and parking supports a range of owner-user office operations within a managed condominium setting.
Key Highlights
- 1,448 SF office condominium at Stadium Commons Condominium
- Reception area, private offices, conference room, workspace, and kitchenette
- Three reserved covered parking spaces
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
$16,268
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
3.29%
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%
$325,360
$325.4K
Cap Rate 7%
$232,400
$232.4K
Cap Rate 9%
$180,756
$180.8K
Market Conditions
NOI Build-Up for 1,448 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
$25.4K $17.52/SF
− Vacancy
−$3.7K −$2.54/SF
EGI
$21.7K $14.98/SF
− OpEx
−$5.4K −$3.74/SF
NOI
$16.3K $11.23/SF
Area
Ann Arbor, MI
Vacancy
14.50%
Lease Rate
$17.52 /SF/Yr
Expense Ratio
25.00%
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%
$325,360
Cap Rate 7%
$232,400
Cap Rate 9%
$180,756
Alternative Uses
Best Use
Office B
$232.4K
$203.4K – $271.1K
NOI $16,268 @ 7.0% cap · market cap 3.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$319.8K
$279.8K – $373.1K
NOI $22,386 @ 7.0% cap · market cap 4.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
571
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
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Efficient office layout includes reception, private offices, a conference room, work area, and kitchenette.
Where is this office units located?
The property is located at 1310 S Main St Ann Arbor, MI.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: 1,448 SF office condominium at Stadium Commons Condominium; Reception area, private offices, conference room, workspace, and kitchenette; Three reserved covered parking spaces
