Downtown Corner Mixed-Use
For Sale
Contact for pricing
311 N MAIN ST, Ann Arbor, MI 48104
Two-story corner building with open floor plans, large east and west windows, and on-site parking.
Property Size5,478 SF
Price / SF$401.61
Days on Market180
Property Features for 311 N MAIN ST
General Information
Standard status
Active
Size
5,478 SF
Property subtype
Mixed Use
Zoning
C2B Business Services
Lease Type
Modified Gross
Investment Type
Owner/User
Site & Location
Neighborhood
North Central Neighborhood Association
Road Access
Yes
Amenities
on-site parking
Building Details
Year Built
1957
Stories
2
Units
6
Listing Agency:
Wickfield Properties
Listed By:
Eric Rudland · License #MI 6501438609
Source:
Crexi
Added: Apr 28
Changed: Oct 22
Last Checked: Oct 24 at 1:42PM
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 Wickfield Properties
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.
311 N Main St is a two-story corner building designed with flexible interior layouts. Both the first and second floors offer open floor plans, supported by abundant windows on the east and west sides for strong natural light throughout.
The property provides direct access to N Main Street and includes on-site parking. It is situated in downtown Ann Arbor at the corner of Main and Miller, with the walkable downtown setting and proximity to M-14 referenced in the marketing.
Zoned C2B Business Service, the building lists permitted uses including professional office, professional services, retail, restaurant, residential, and short- or mid-term rental. The configuration is described as suited to owner-users, investors, or repositioning, with visibility and access highlighted as key features.
The property provides direct access to N Main Street and includes on-site parking. It is situated in downtown Ann Arbor at the corner of Main and Miller, with the walkable downtown setting and proximity to M-14 referenced in the marketing.
Zoned C2B Business Service, the building lists permitted uses including professional office, professional services, retail, restaurant, residential, and short- or mid-term rental. The configuration is described as suited to owner-users, investors, or repositioning, with visibility and access highlighted as key features.
Key Highlights
- Two‑story corner property at 311 N Main St, Ann Arbor, MI (built 1957) with direct access to N Main Street
- 5,478 SF of flexible commercial space with open floor plans on both the first and second floors
- Abundant east and west windows for strong natural light throughout the building
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$64,881
Cap Rate
2.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,297,620
$1.3M
Cap Rate 7%
$926,871
$926.9K
Cap Rate 9%
$720,900
$720.9K
Market Conditions
NOI Build-Up for 5,478 SF
Gross rent
$98.6K $18.00/SF
− Vacancy
−$5.9K −$1.08/SF
EGI
$92.7K $16.92/SF
− OpEx
−$27.8K −$5.08/SF
NOI
$64.9K $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%
$1,297,620
Cap Rate 7%
$926,871
Cap Rate 9%
$720,900
Alternative Uses
Best Use
Retail
$926.9K
$811.0K – $1.08M
NOI $64,881 @ 7.0% cap · market cap 2.95%
Second Best
Office B
$879.2K
$769.3K – $1.03M
NOI $61,544 @ 7.0% cap · market cap 2.80%
Theoretical Best
Office A
$1.21M
$1.06M – $1.41M
NOI $84,689 @ 7.0% cap · market cap 3.85%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
3,510
Businesses Nearby
Explore this area
Business Placement
Demographics for 48104, MI
41,588
Population
19,173
Households
2.2
Avg Household Size
27
Median Age
82%
College-Educated
98%
High-School Grad
7.8 sq mi
ZIP Area
5,332
Density / Sq Mi
$63,341
Median Household Income
$16,073
Median Earnings
$1,548
Median Rent
$481,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office building - Two-story corner building with open floor plans, large east and west windows, and on-site parking.
Where is this office building located?
The property is located at 311 N MAIN ST Ann Arbor, MI.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Two‑story corner property at 311 N Main St, Ann Arbor, MI (built 1957) with direct access to N Main Street; 5,478 SF of flexible commercial space with open floor plans on both the first and second floors; Abundant east and west windows for strong natural light throughout the building
