Stadium Blvd Income
For Sale
$3,950,000
450-462 W Stadium Blvd, Ann Arbor, MI 48103
Four-unit condo near The Big House with parking.
Property Size16,000 SF
Price / SF$246.88
Days on Market258
Property Features for 450-462 W Stadium Blvd
General Information
Standard status
Active
Size
16,000 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Friends of Greenview and Pioneer Nature Area
Building Details
Year Built
2017
Listing Agency:
J Keller Properties, LLC
Listed By:
Jonathon Keller · License #6502370935
(734) 323-1072
Source:
Metrodetroithomeguide
Added: Feb 20
Changed: Nov 1
Last Checked: Nov 3 at 6:49AM
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 J Keller Properties, LLC
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Investment Insights
Based on property information with market context.
This four-unit condo/income property is located just 200 yards from The Big House. Each unit features four en suite bedrooms, a rooftop balcony, five garage parking spaces, and three floors of living space. The entry level and second level of each unit each feature two bedrooms with full bathrooms and kitchenettes, an oversized living room, and a kitchen. The third floor of each unit has a half bath, walk-out balcony, and wet bar. A spiral staircase leads from the parking garage to all three floors. The property has a bike score of 94, indicating it is a biker's paradise, a walk score of 99, indicating it is a walker's paradise and a transit score of 69, indicating good transit.
Key Highlights
- Located just 200 yards from The Big House (University of Michigan stadium).
- Each unit has four en suite bedrooms.
- Each unit includes 5 garage parking spaces.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$207,346
Cap Rate
5.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,146,920
$4.1M
Cap Rate 7%
$2,962,086
$3.0M
Cap Rate 9%
$2,303,844
$2.3M
Market Conditions
NOI Build-Up for 16,000 SF
Gross rent
$316.8K $19.80/SF
− Vacancy
−$20.6K −$1.29/SF
EGI
$296.2K $18.51/SF
− OpEx
−$88.9K −$5.55/SF
NOI
$207.3K $12.96/SF
Area
Ann Arbor, MI
Vacancy
6.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,146,920
Cap Rate 7%
$2,962,086
Cap Rate 9%
$2,303,844
Alternative Uses
Best Use
Multifamily LT 5
$2.96M
$2.59M – $3.46M
NOI $207,346 @ 7.0% cap · market cap 5.25%
Second Best
Apartment 5plus
$2.60M
$2.28M – $3.03M
NOI $182,040 @ 7.0% cap · market cap 4.61%
Theoretical Best
Office A
$3.53M
$3.09M – $4.12M
NOI $247,357 @ 7.0% cap · market cap 6.26%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Location Intelligence
Trade Area within ½ mile
366
Businesses Nearby
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Business Placement
Demographics for 48103, MI
55,605
Population
25,511
Households
2.2
Avg Household Size
40
Median Age
75%
College-Educated
97%
High-School Grad
66.5 sq mi
ZIP Area
836
Density / Sq Mi
$115,513
Median Household Income
$65,698
Median Earnings
$1,760
Median Rent
$455,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit condo near The Big House with parking.
Where is this quadplex located?
The property is located at 450-462 W Stadium Blvd Ann Arbor, MI.
What is the asking price?
The asking price for this property is $3,950,000.
What are key features of this property?
This property features: Located just 200 yards from The Big House (University of Michigan stadium).; Each unit has **four en suite bedrooms**.; Each unit includes **5 garage parking spaces**.
