Leased Storefront Retail
New
For Sale
Contact for pricing
3240 Packard St, Ann Arbor, MI 48108
A renovated, single-story retail property is occupied under a lease extending through December 2031.
Property Size2,240 SF
Lot Size0.25 Acres
Price / SF$279.02
Days on Market4
Property Features for 3240 Packard St
General Information
Standard status
Active
Size
2,240 SF
Lot size
0.25 Acres
Property subtype
RETAIL
Occupancy
100%
Additional Details
Asking Price
$625,000
Building Details
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
The Delia Group
(248) 244-0703
Listed By:
Brock Bean
Source:
Moodyscre
Added: Oct 14
Changed: Oct 16
Last Checked: Oct 16 at 2:24PM
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 The Delia Group
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Investment Insights
Based on property information with market context.
This 2,240 SF storefront is a single-story building with a renovated interior. It is fully occupied by a liquor store, and the sale covers the real estate only; the operating business is excluded.
The current lease runs through December 2031, with renewal options extending through 2046. The property sits on an approximate 84' x 132' lot in Ann Arbor, within a stated 5-mile trade area serving over 200,000 residents.
The current lease runs through December 2031, with renewal options extending through 2046. The property sits on an approximate 84' x 132' lot in Ann Arbor, within a stated 5-mile trade area serving over 200,000 residents.
Key Highlights
- 2,240 SF single‑story storefront
- Fully leased to a liquor store; operating business is not included in the sale
- Renovated interior
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,531
Cap Rate
4.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$530,620
$530.6K
Cap Rate 7%
$379,014
$379.0K
Cap Rate 9%
$294,789
$294.8K
Market Conditions
NOI Build-Up for 2,240 SF
Gross rent
$40.3K $18.00/SF
− Vacancy
−$2.4K −$1.08/SF
EGI
$37.9K $16.92/SF
− OpEx
−$11.4K −$5.08/SF
NOI
$26.5K $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%
$530,620
Cap Rate 7%
$379,014
Cap Rate 9%
$294,789
Alternative Uses
Best Use
Retail
$379.0K
$331.6K – $442.2K
NOI $26,531 @ 7.0% cap · market cap 4.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$494.7K
$432.9K – $577.2K
NOI $34,630 @ 7.0% cap · market cap 5.54%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
508
Businesses Nearby
Under-served
Demand for This Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Similar Off Market Nearby
- Thrifty Florist — 3021 Carpenter Rd, Ypsilanti, MI 48197
Frequently Asked Questions
What type of property is this?
Storefront property - A renovated, single-story retail property is occupied under a lease extending through December 2031.
Where is this storefront property located?
The property is located at 3240 Packard St Ann Arbor, MI.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: 2,240 SF single‑story storefront; Fully leased to a liquor store; operating business is not included in the sale; Renovated interior
