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    Multi-Building Flex Business Park Title is generated by Realmo AI

    3502 W Liberty Rd, Ann Arbor, MI 48103

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    Five flex buildings offer a versatile mix of office, warehouse, light industrial, showroom, and service space on a major Ann Arbor corridor.

    Type:Office
    Property size:
    63,532 SF
    Added:
    Jun 1, 2026
    Days on Market:
    3
    Last Refresh:
    Jun 3 at 3:21 am

    Property Features for 3502 W Liberty Rd

    General Information

    Standard status
    Active
    Size
    63,532 SF
    Property subtype
    Office

    Building Details

    Year Built
    1984

    We can help!

    Listing Contact
    Ashish Vakhariya

    Listing agent Ashish Vakhariya License #License(s): MI: 6501322501

    Listing office Detroit Office

    Listing date Jun 1, 2026

    Source Marcusmillichap

    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 Detroit Office

    HighLights

    • Liberty Wagner Business Park includes five flex buildings totaling approximately 63,000 SF, built in 1984
    • Space mix across the campus includes office, warehouse, light industrial, showroom, and service‑oriented space
    • Campus is located at 3502 to 3650 West Liberty Road in Ann Arbor, MI, in Washtenaw County
    • Situated on West Liberty Road near the Wagner Road intersection, with access to Downtown Ann Arbor, I‑94, and M‑14
    • Flex space vacancy context: current market vacancy is listed as 8%
    • Multiple ownership strategies available, including leasing buildings individually or as multi‑tenant space, or selling buildings separately

    Overview

    Liberty Wagner Business Park is a multi-building flex campus featuring five individual flex buildings totaling approximately 63,532 square feet. The property offers a mix of office, warehouse, light industrial, showroom, and service-oriented space, with multiple building sizes and configurations designed to support a range of users. This flexible mix also creates optionality for investors and owner-occupants, including leasing strategies and the ability to reposition space over time.

    The campus is located along West Liberty Road near the intersection with Wagner Road, providing direct access to Downtown Ann Arbor, Interstate 94, and M-14. The surrounding area is supported by major regional employment and traffic drivers, including the University of Michigan and Michigan Medicine, as well as downtown Ann Arbor employment centers and established residential neighborhoods. Washtenaw County’s employment base includes education, healthcare, research, and technology.

    With Ann Arbor described as supply-constrained for flex space, Liberty Wagner Business Park is positioned for long-term demand from tenants seeking adaptable space close to employment centers and major transportation routes. Ownership strategies are flexible as well, with options to lease buildings individually or as multi-tenant space, sell buildings separately, or occupy part of the campus while retaining income from the remaining space.
    Location Intelligence

    Current Use by Public Records

    FedEx Drop Box Shipping Company Earthbound Remedies (Bike/Boat/Book/etc) Store Tashia Porta Potty ... Building Supply

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Ann Arbor
    County
    Washtenaw
    State
    Michigan
    Longitude
    -83.801901
    Latitude
    42.2728975

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    FAQs

    What type of property is this?
    Flex space - Five flex buildings offer a versatile mix of office, warehouse, light industrial, showroom, and service space on a major Ann Arbor corridor.
    Where is this flex space located?
    The property is located at 3502 W Liberty Rd Ann Arbor, MI.
    What are key features of this property?
    This property features: Liberty Wagner Business Park includes five flex buildings totaling approximately 63,000 SF, built in 1984; Space mix across the campus includes office, warehouse, light industrial, showroom, and service‑oriented space; Campus is located at 3502 to 3650 West Liberty Road in Ann Arbor, MI, in Washtenaw County
    (248) 415-2636
    We can help!
    Listing Contact
    Ashish Vakhariya
    Real Estate License ID: License(s): MI: 6501322501
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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