Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    State St Ann Arbor, MI 48108

    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    High-traffic location, Business Development zoning.

    Property Features for 0 State St

    General Information

    Property type
    Land
    Lot Size
    98,446 SF

    We can help!

    Listing Contact
    Jim Chaconas
    Jim Chaconas

    Listing Agent: Jim Chaconas

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    This exceptional 2.26-acre commercial land parcel presents a unique investment opportunity in Ann Arbor, Michigan. Located on S State Street at the corner of Concourse Drive, this property boasts a prime location with high visibility and accessibility. Benefiting from Pittsfield Township taxes and utilities, the site is zoned BD – Business Development, offering a wide range of permitted uses. These include office/medical facilities, medical laboratories, technology centers/research facilities, and manufacturing and assembly operations, with additional conditional uses possible. Its strategic location just south of Ellsworth Road, across from the Ann Arbor Municipal Airport, and minutes from I-94, Michigan Avenue, and downtown Ann Arbor provides unparalleled convenience and connectivity. The surrounding area is a thriving hub for R&D and industrial parks, including Avis Farms and State Street Executive Park, and is home to established businesses such as the Michigan Research Institute, Takara Bio USA, and Gym America. Proximity to Saline and newer residential neighborhoods further enhances its appeal. The property's APN is L-12-16-200-028. The asking price is $875,000. This is an exceptional opportunity to acquire a significant land holding in a rapidly growing area with diverse development potential. The zip code is 48108.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Ann Arbor
    County
    Washtenaw
    State
    Michigan
    Longitude
    -83.735907519912
    Latitude
    42.222757176841

    Nearby Similar for Sale

    • $1,500,000
      8,610 SF

      Historic Ann Arbor Property Near Arb

      Spacious 8,610 sqft property near University of Michigan campus.
      1923 Geddes Ave, Ann Arbor, MI 48104
      View Details
    • New
      $950,000
      1.10 Acres

      Twin Home on Picturesque Acre

      Twin home on over an acre, perfect for rental income.
      5183 Christine Dr, Ann Arbor, MI 48103
      View Details
    • New
      $525,000
      Pending

      Historic Ann Arbor Home

      Charming 3-bedroom home with business zoning in downtown Ann Arbor.
      616 S Ashley St, Ann Arbor, MI 48103
      View Details
    • $999,000
      2,101 SF

      Farmstead on 20 Acres

      150-year-old farmstead on two 10-acre parcels near Ann Arbor.
      8620 Scio Church Rd, Ann Arbor, MI 48103
      View Details
    • $560,000
      0.11 Acres

      Ann Arbor Duplex in Old West

      Charming duplex in Ann Arbor's desirable Old West Side.
      222 Buena Vista Ave, Ann Arbor, MI 48103
      View Details
    • $680,000
      4,532 SF

      Ann Arbor Retail/Office Space

      Well-maintained retail/office space in Ann Arbor's west side.
      2237 W Liberty St, Ann Arbor, MI 48103
      View Details
    • $1,890,000
      0.28 Acres

      Modernized Duplex Near University Campus

      Fully leased duplex near University of Michigan with recent renovations.
      1702 Hill St, Ann Arbor, MI 48104
      View Details
    • $5,495,000
      0.21 Acres

      Ann Arbor Multifamily Investment Property

      Fully leased, renovated student rental near University of Michigan campus.
      912 Mary St, Ann Arbor, MI 48104
      View Details
    • $3,750,000
      0.30 Acres

      Ann Arbor Multifamily Investment Opportunity

      Historic 11-unit property near University of Michigan with development potential.
      1136 Prospect St, Ann Arbor, MI 48104
      View Details
    • $825,000
      0.15 Acres

      Ann Arbor Triplex Investment Opportunity

      Meticulously maintained Ann Arbor triplex near stadium with updated units.
      220 W Mosley St, Ann Arbor, MI 48103
      View Details
    • $648,000
      7.79 Acres

      Ann Arbor Commercial Land

      7.79 acre commercial property in Ann Arbor, Michigan.
      5860 Ford Rd, Ann Arbor, MI 48105
      View Details
    • New
      $1,600,000
      5,318 SF

      Mixed-Use Parcel in Ann Arbor

      Two buildings with development potential in the heart of Ann Arbor.
      404 W Liberty St, Ann Arbor, MI 48103
      View Details

    FAQs

    What type of property is this?
    Land - High-traffic location, Business Development zoning.
    Where is this land located?
    The property is located at State St Ann Arbor, MI.
    What is the asking price?
    The asking price for this property is $875,000.
    What are key features of this property?
    This property features: 2.26-acre commercial land parcel in Ann Arbor, MI.; Prime location on S State Street at Concourse Drive with high visibility and accessibility.; Zoned BD (Business Development) allowing for office, medical, technology, and manufacturing uses.
    (734) 994-3100 Call to check price and availability
    Request Owner's contact information
    State St Ann Arbor, MI 48108
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    State St
    Ann Arbor, MI 48108
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    State St Ann Arbor, MI 48108
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Jim Chaconas
    Jim Chaconas
    Real Estate License ID: 6502358011
    (734) 994-3100 (734) 646-1796
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!