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    413 E Huron Street Suite C Ann Arbor, MI 48104

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    Turnkey cocktail and coffee lounge in downtown Ann Arbor.

    Type:Special Purpose
    Property size:
    2,320 SF
    Price / SF:
    $258/SF
    Added:
    Oct 19, 2024
    Days on Market:
    551
    Last Refresh:
    Mar 17 at 1:13 pm

    Property Features for 413 E Huron Street Suite C

    General Information

    Standard status
    Active
    Size
    2,320 SF
    Property subtype
    Special Purpose

    We can help!

    Listing Contact
    Robert Struk

    Listing agent Robert Struk License #MI

    Listing office CENTURY 21 Curran & Oberski Dearborn Heights

    Listing date Oct 19, 2024

    Source Crexi

    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 CENTURY 21 Curran & Oberski Dearborn Heights

    Overview

    Ann Arbor Cocktail & Coffee Lounge

    This 2320 square foot cocktail and coffee lounge is located on the ground floor of the Foundry Lofts building in downtown Ann Arbor. The establishment seats up to 74 patrons and offers a variety of cocktails, coffee, gourmet espresso, tea, and fresh baked flatbreads, along with a wide selection of draft beers, liquors, and wine. An open and airy patio seating area allows patrons to enjoy beverages outdoors. The interior features comfortable seating, music, and the aroma of fresh roasted coffee. Customers have the option to sit and stay or grab and go. TVs behind the bar broadcast sporting events. The business opportunity includes a transferable Class C liquor license (Outdoor service area, Sunday sales, Spirits & Mixed Spirit Drinks) and a 10-year lease with a 5-year renewal option. The lounge is a destination for martinis and high-end brews, offering a space where tradition and craftsmanship converge. The business is located in a community-oriented area, offering opportunities to advertise for local events and promote local artists and businesses.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Foundry Lofts Student Housing Center 7-Eleven Grocery & Convenience Store Western Union Bank StoneFruit Social Bar & Pub KeyMe Locksmiths Locksmith

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Hair Salon Dental Office Nail Salon Building Supply Daycare Center Gym & Fitness Center

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

    Similar Places Nearby

    • Starbucks — 701 Tappan Ave, Ann Arbor, MI 48109
    • Argus — 424 cross st, ann arbor, mi 48104
    • Brown Jug Restaurant — 1204 S University Ave, Ann Arbor, MI 48104
    • The Garage Bar — 618 Church St, Ann Arbor, MI 48104
    • Good Time Charley's — 1140 S University Ave, Ann Arbor, MI 48104

    Location Insight

    • Map
    • Local Demand
    City
    Ann Arbor
    County
    Washtenaw
    State
    Michigan
    Longitude
    -83.7431975
    Latitude
    42.2815871

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    FAQs

    What type of property is this?
    Bar & Pub - Turnkey cocktail and coffee lounge in downtown Ann Arbor.
    Where is this bar & pub located?
    The property is located at 413 E Huron Street Suite C Ann Arbor, MI.
    What is the asking price?
    The asking price for this property is $599,900.
    What are key features of this property?
    This property features: Turnkey business in a prime downtown Ann Arbor location.; Includes a transferable Class C liquor license (Outdoor service area, Sunday sales, Spirits & Mixed Spirit Drinks).; 10‑year lease with a 5‑year renewal option.
    (313) 506-1468 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Robert Struk
    Real Estate License ID: MI
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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.

    More about this property
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