Two-Building Office
New
For Sale
$1,200,000
1793-1795 W Stadium Blvd, Ann Arbor, MI 48103
Two one-story structures offer full basements, on-site parking, and signage along West Stadium Boulevard.
Property Size4,252 SF
Price / SF$282.22
Days on Market3
Property Features for 1793-1795 W Stadium Blvd
General Information
Standard status
Active
Size
4,252 SF
Property subtype
Office
Zoning
TC1 – Transit Corridor District
Occupancy
100%
Building Details
Year Built
1965
Buildings
2
Stories
1
Construction
masonry and frame
Tenancy
Multi
Abandoned
No
Listing Agency:
Swisher Commercial
Listed By:
Bart Wise · License #MI #6502101921
(734) 358-0354
Source:
Swishercommercial
Added: Sep 11
Changed: Sep 12
Last Checked: Sep 12 at 8:09AM
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.
This office property includes two one-story masonry and frame buildings totaling 4,252 SF, with full storage basements beneath each structure. Both buildings were constructed in 1965 and are configured for professional and medical office use. The property is zoned TC1 – Transit Corridor District.
The buildings are 100% occupied, with an insurance company operating at 1793 W Stadium since 2020 and a dentist occupying 1795 W Stadium since 2019. Additional site features include signage on West Stadium Boulevard and a parking lot resurfaced in 2023. New HVAC units are scheduled for 2026. Financial information and a rent roll are available upon request.
The buildings are 100% occupied, with an insurance company operating at 1793 W Stadium since 2020 and a dentist occupying 1795 W Stadium since 2019. Additional site features include signage on West Stadium Boulevard and a parking lot resurfaced in 2023. New HVAC units are scheduled for 2026. Financial information and a rent roll are available upon request.
Key Highlights
- Two one‑story office buildings totaling 4,252 SF
- Full storage basement in each building
- 100% occupied by an insurance company and dentist
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
$47,770
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
3.98%
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%
$955,400
$955.4K
Cap Rate 7%
$682,429
$682.4K
Cap Rate 9%
$530,778
$530.8K
Market Conditions
NOI Build-Up for 4,252 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
$74.5K $17.52/SF
− Vacancy
−$10.8K −$2.54/SF
EGI
$63.7K $14.98/SF
− OpEx
−$15.9K −$3.74/SF
NOI
$47.8K $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%
$955,400
Cap Rate 7%
$682,429
Cap Rate 9%
$530,778
Alternative Uses
Best Use
Office B
$682.4K
$597.1K – $796.2K
NOI $47,770 @ 7.0% cap · market cap 3.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$939.1K
$821.7K – $1.10M
NOI $65,735 @ 7.0% cap · market cap 5.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
734
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 building - Two one-story structures offer full basements, on-site parking, and signage along West Stadium Boulevard.
Where is this office building located?
The property is located at 1793-1795 W Stadium Blvd Ann Arbor, MI.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Two one‑story office buildings totaling 4,252 SF; Full storage basement in each building; 100% occupied by an insurance company and dentist
