Office Building with
For Sale
$999,900
1621 Plymouth Road, Ann Arbor, MI 48105
Versatile office space with adaptable rooms, generous storage, and abundant parking, zoned C-1 Business.
Property Size2,997 SF
Price / SF$333.30
Days on Market71
Property Features for 1621 Plymouth Road
General Information
Standard status
Active
Size
2,997 SF
Property subtype
Commercial
Zoning
Commercial
Additional Details
Highway Access
Yes
Building Details
Building Size
2,997 SF
Year Built
2008
Stories
1
Listing Agency:
Real Estate One-Brighton
(810) 227-5005
Listed By:
Michelle Vedder · License #6501301460
(810) 227-5005
Source:
Homesforsaleinmich
Added: Jun 15
Changed: Aug 24
Last Checked: Aug 23 at 5:37AM
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 Real Estate One-Brighton
Investment Insights
Based on property information with market context.
This for-sale office property offers nearly 3,000 square feet of flexible interior space with adaptable rooms that can function as offices or meeting areas. The building includes generous storage areas designed to support day-to-day operations. Phase 1 and Phase 2 have been completed.
The property is located just off Plymouth Road with easy access to major freeways. The site also benefits from an income stream generated by a nearby cell phone tower and provides abundant parking for staff and customers.
Per the provided information, the property is zoned C-1 Business.
The property is located just off Plymouth Road with easy access to major freeways. The site also benefits from an income stream generated by a nearby cell phone tower and provides abundant parking for staff and customers.
Per the provided information, the property is zoned C-1 Business.
Key Highlights
- Commercial building built in 2008 offering nearly 3,000 SF of versatile space for offices, meeting areas, or other business uses
- Zoned C‑1 Business
- Phase 1 and Phase 2 have been completed
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
$33,704
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
3.37%
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%
$674,080
$674.1K
Cap Rate 7%
$481,486
$481.5K
Cap Rate 9%
$374,489
$374.5K
Market Conditions
NOI Build-Up for 3,000 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
$52.6K $17.52/SF
− Vacancy
−$7.6K −$2.54/SF
EGI
$44.9K $14.98/SF
− OpEx
−$11.2K −$3.74/SF
NOI
$33.7K $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%
$674,080
Cap Rate 7%
$481,486
Cap Rate 9%
$374,489
Alternative Uses
Best Use
Office B
$481.5K
$421.3K – $561.7K
NOI $33,704 @ 7.0% cap · market cap 3.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$662.6K
$579.8K – $773.0K
NOI $46,380 @ 7.0% cap · market cap 4.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
312
Businesses Nearby
Explore this area
Business Placement
Demographics for 48105, MI
38,883
Population
16,773
Households
2.3
Avg Household Size
30
Median Age
82%
College-Educated
98%
High-School Grad
49.5 sq mi
ZIP Area
786
Density / Sq Mi
$94,737
Median Household Income
$45,516
Median Earnings
$1,603
Median Rent
$485,600
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 - Versatile office space with adaptable rooms, generous storage, and abundant parking, zoned C-1 Business.
Where is this office units located?
The property is located at 1621 Plymouth Road Ann Arbor, MI.
What is the asking price?
The asking price for this property is $999,900.
What are key features of this property?
This property features: Commercial building built in 2008 offering nearly 3,000 SF of versatile space for offices, meeting areas, or other business uses; Zoned C‑1 Business; Phase 1 and Phase 2 have been completed
