Versatile Mixed-Use
For Sale
$599,000
8753 PLEASANT LAKE RD, Ann Arbor, MI 48103
Improved acreage includes a finished basement, kitchen, sunroom, office, and flexible interior space.
Property Size1,650 SF
Lot Size26.00 Acres
Price / SF$150.96
Days on Market17
Property Features for 8753 PLEASANT LAKE RD
General Information
Standard status
Active
Size
1,650 SF
Lot size
26.00 Acres
Property subtype
Business Opportunities
Additional Details
Land Use
residential, commercial, mixed-use, live-work, event venue, agritourism, contractor headquarters, retreat center, educational campus, specialty, pet services, pet boarding/pet daycare, garden center/greenhouse
Amenities
parking lot
storage
equipment storage
3
66917849691793
Building Details
Year Built
1994
Buildings
1
Building Size
1,650 SF
Listing Agency:
Key Realty One LLC
(734) 216-9920
Listed By:
Michael Price · License #6501273091
(734) 216-9920
Source:
Xome
Added: Jul 31
Changed: Aug 15
Last Checked: Aug 16 at 3:29AM
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 Key Realty One LLC
Investment Insights
Based on property information with market context.
This mixed-use property combines 26 acres with an existing building that includes a finished basement, kitchen, large flex area, sunroom, and office. The building previously served as a golf clubhouse and day care, providing an established interior framework for continued commercial or mixed-use consideration. Year built: 1994.
The property is positioned along a rural corridor just minutes from Ann Arbor. Its substantial acreage includes room for parking, storage, equipment storage, outdoor improvements, or additional site planning, subject to applicable approvals. The existing improvements and open land support consideration of residential, commercial, mixed-use, and live-work applications.
The property is positioned along a rural corridor just minutes from Ann Arbor. Its substantial acreage includes room for parking, storage, equipment storage, outdoor improvements, or additional site planning, subject to applicable approvals. The existing improvements and open land support consideration of residential, commercial, mixed-use, and live-work applications.
Key Highlights
- 26‑acre mixed‑use property along a rural corridor
- Existing building includes finished basement, kitchen, large flex area, sunroom, and office
- Former golf clubhouse and day care
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$46,545
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.77%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$930,900
$930.9K
Cap Rate 7%
$664,929
$664.9K
Cap Rate 9%
$517,167
$517.2K
Market Conditions
NOI Build-Up for 3,968 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$80.9K $20.40/SF
− Vacancy
−$6.5K −$1.63/SF
EGI
$74.5K $18.77/SF
− OpEx
−$27.9K −$7.04/SF
NOI
$46.5K $11.73/SF
Area
Ann Arbor, MI
Vacancy
8.00%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$930,900
Cap Rate 7%
$664,929
Cap Rate 9%
$517,167
Alternative Uses
Best Use
Mixed Use
$664.9K
$581.8K – $775.8K
NOI $46,545 @ 7.0% cap · market cap 7.77%
Second Best
Office B
$636.8K
$557.2K – $743.0K
NOI $44,579 @ 7.0% cap · market cap 7.44%
Theoretical Best
Office A
$876.4K
$766.8K – $1.02M
NOI $61,345 @ 7.0% cap · market cap 10.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Improved acreage includes a finished basement, kitchen, sunroom, office, and flexible interior space.
Where is this mixed-use property located?
The property is located at 8753 PLEASANT LAKE RD Ann Arbor, MI.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 26‑acre mixed‑use property along a rural corridor; Existing building includes finished basement, kitchen, large flex area, sunroom, and office; Former golf clubhouse and day care
