NNN Restaurant
New
For Sale
$450,000
3220 Packard Rd, Ann Arbor, MI 48108
The single-story building is leased through October 2029, with extension options.
Property Size1,416 SF
Lot Size0.25 Acres
Price / SF$317.80
Days on Market4
Property Features for 3220 Packard Rd
General Information
Standard status
Active
Size
1,416 SF
Lot size
0.25 Acres
Property subtype
Investment, Retail
Zoning
C1
Occupancy
100%
Additional Details
Asking Price
$450,000
Building Details
Building Size
1,416 SF
Year Built
1969
Stories
1
Listing Agency:
TDG Commercial
Listed By:
Brock Bean · License #462328
Source:
Cpix.resimplifi
Added: Oct 14
Changed: Oct 16
Last Checked: Oct 16 at 2:10PM
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 TDG Commercial
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.
At 3220 Packard Road in Ann Arbor, this single-story restaurant building contains 1,416 square feet and dates to 1969. It sits on an 84' x 132' parcel and carries C1 (Local Business) zoning. The property is fully leased under a double-net lease that runs through October 2029, with extension options.
The site is east of Platt Road and serves a trade area with more than 200,000 residents within a five-mile radius. The sale includes the real estate; the restaurant business is excluded.
The site is east of Platt Road and serves a trade area with more than 200,000 residents within a five-mile radius. The sale includes the real estate; the restaurant business is excluded.
Key Highlights
- 1,416‑square‑foot, single‑story restaurant building
- Fully leased under a double‑net lease through October 2029, with extension options
- 84' x 132' lot with C1 (Local Business) zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,667
Cap Rate
4.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$373,340
$373.3K
Cap Rate 7%
$266,671
$266.7K
Cap Rate 9%
$207,411
$207.4K
Market Conditions
NOI Build-Up for 1,416 SF
Gross rent
$26.3K $18.60/SF
− Vacancy
−$1.4K −$1.02/SF
EGI
$24.9K $17.58/SF
− OpEx
−$6.2K −$4.39/SF
NOI
$18.7K $13.18/SF
Area
Ann Arbor, MI
Vacancy
5.50%
Lease Rate
$18.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$373,340
Cap Rate 7%
$266,671
Cap Rate 9%
$207,411
Alternative Uses
Best Use
Specialty Retail
$266.7K
$233.3K – $311.1K
NOI $18,667 @ 7.0% cap · market cap 4.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$312.7K
$273.6K – $364.9K
NOI $21,891 @ 7.0% cap · market cap 4.86%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
429
Businesses Nearby
Explore this area
Business Placement
Demographics for 48108, MI
26,639
Population
12,508
Households
2.1
Avg Household Size
37
Median Age
65%
College-Educated
96%
High-School Grad
16.8 sq mi
ZIP Area
1,586
Density / Sq Mi
$80,425
Median Household Income
$46,434
Median Earnings
$1,316
Median Rent
$378,300
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
NNN property - The single-story building is leased through October 2029, with extension options.
Where is this nnn property located?
The property is located at 3220 Packard Rd Ann Arbor, MI.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 1,416‑square‑foot, single‑story restaurant building; Fully leased under a double‑net lease through October 2029, with extension options; 84' x 132' lot with C1 (Local Business) zoning
