Two-Building Office
For Sale
Contact for pricing
1793 W Stadium Blvd, Ann Arbor, MI 48103
Two one-story structures offer basement storage, marked parking, and signage along W. Stadium Boulevard.
Property Size4,252 SF
Lot Size0.44 Acres
Price / SF$282.22
Days on Market16
Property Features for 1793 W Stadium Blvd
General Information
Standard status
Active
Size
4,252 SF
Total Parking Spaces
23
Lot size
0.44 Acres
Property subtype
Office
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
1965
Buildings
2
Stories
1
Construction
masonry and frame
Listing Agency:
Swisher Commercial
Listed By:
Bart Wise · License #MI 6502101921
(734) 662-3778
Source:
Crexi
Added: Sep 9
Changed: Sep 23
Last Checked: Sep 24 at 9:45AM
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, each with a full basement. Constructed in 1965, the buildings measure 1,612 SF and 2,640 SF respectively. The larger structure is arranged as a single dental unit, while the other includes two gas-fired forced-air furnaces with matching air-conditioning condensers. The larger building has one furnace and one air-conditioning condenser. Both structures have pitched asphalt-shingle roofs.
The irregular 0.44-acre site provides 23 marked parking spaces, approximately 160 feet of frontage on W. Stadium Boulevard, and approximately 120 feet along Suffolk Avenue. Exterior signage is included along W. Stadium Boulevard. The property is positioned on Ann Arbor’s west side with connections to downtown Ann Arbor, the University of Michigan, I-94, M-14, and US-23.
The irregular 0.44-acre site provides 23 marked parking spaces, approximately 160 feet of frontage on W. Stadium Boulevard, and approximately 120 feet along Suffolk Avenue. Exterior signage is included along W. Stadium Boulevard. The property is positioned on Ann Arbor’s west side with connections to downtown Ann Arbor, the University of Michigan, I-94, M-14, and US-23.
Key Highlights
- Two one‑story office buildings total 4,252 SF with full storage basements
- Building sizes are 1,612 SF and 2,640 SF
- Larger building configured as a single dental unit
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
Healthcare Medical
$650.8K
$569.4K – $759.2K
NOI $45,554 @ 7.0% cap · market cap 3.80%
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
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office building - Two one-story structures offer basement storage, marked parking, and signage along W. Stadium Boulevard.
Where is this office building located?
The property is located at 1793 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 total 4,252 SF with full storage basements; Building sizes are 1,612 SF and 2,640 SF; Larger building configured as a single dental unit
