Improved Commercial
For Sale
$599,000
8753 Pleasant Lake Road, Ann Arbor, MI 48103
A rural-corridor parcel near Ann Arbor includes an existing building with flexible interior space and a finished basement.
Property Size3,968 SF
Price / SF$150.96
Days on Market12
Property Features for 8753 Pleasant Lake Road
General Information
Standard status
Active
Size
3,968 SF
Zoning
Res Improved
Amenities
true
2
3968
Broadband
Other, Real Estate
Well
26.04
669x1784x969x1793
false
Paved
Concrete Perimeter,Block
Building Details
Building Size
3,968 SF
Year Built
1994
Stories
3968
Listing Agency:
Key Realty One LLC
(734) 273-9083
Listed By:
Michael Price · License #6501273091
(734) 216-9920
Source:
Danhendrick.clydehendrickrealtors
Added: Oct 19
Changed: Oct 28
Last Checked: Oct 28 at 3:27PM
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
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Investment Insights
Based on property information with market context.
The 26.04-acre commercial land offering includes an existing building with a finished basement, kitchen, flexible-use area, sunroom, two bathrooms, and an office. The building was constructed in 1994. Site features include a well and paved areas.
Located at 8753 Pleasant Lake Road near Ann Arbor, the property sits in a rural corridor with access to the Ann Arbor market. The zoning is identified as Res Improved. Any proposed use or development would require independent verification with the appropriate authorities.
Located at 8753 Pleasant Lake Road near Ann Arbor, the property sits in a rural corridor with access to the Ann Arbor market. The zoning is identified as Res Improved. Any proposed use or development would require independent verification with the appropriate authorities.
Key Highlights
- 26.04 acres
- Existing building includes a finished basement, kitchen, flexible‑use area, sunroom, two bathrooms, and an office
- Constructed in 1994
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,545
Cap Rate
7.77%
Suggested Prices Based on Cap Rates
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
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 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
Flex RnD
$540.3K
$472.8K – $630.4K
NOI $37,821 @ 7.0% cap · market cap 6.31%
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.
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Current Use
Location Intelligence
Trade Area within ½ mile
2
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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Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Commercial land - A rural-corridor parcel near Ann Arbor includes an existing building with flexible interior space and a finished basement.
Where is this commercial land located?
The property is located at 8753 Pleasant Lake Road 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: 26.04 acres; Existing building includes a finished basement, kitchen, flexible‑use area, sunroom, two bathrooms, and an office; Constructed in 1994
