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    The Largest CRE Database in the US with Over 1 Million Listings

    2350 Washtenaw Ave Ann Arbor, MI 48104

    Sponsored
    For Lease
    $55 SF/Yr

    Prime Ann Arbor location, ideal for healthcare.

    Lot size:
    4,400 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    423
    This exceptional medical or executive office suite, located at 2350 Washtenaw Avenue in Ann Arbor, Michigan, offers 6,962 square feet of readily available space within a larger 4,400 square foot building. The property is classified as a Class B building and features a single-story design within a two-building complex. Situated conveniently between East Stadium Boulevard and Washtenaw Avenue, this location provides excellent visibility and accessibility. The suite boasts attractive wood flooring and sound-insulated walls, creating a professional and private atmosphere. A shared waiting area and restrooms are included, adding convenience for both tenants and clients. The zoning is designated as OFFICE, making it perfectly suited for medical practices, therapy offices, or other professional services. This property is part of the Washtenaw W of 23 submarket cluster in Ann Arbor, Washtenaw County (APN: 09-09-34-309-045), placing it within easy reach of downtown Ann Arbor, the University of Michigan campus, and the Arborland/US-23 area, ensuring high traffic and visibility. The multiple tenancy structure offers a collaborative environment. This is a fantastic opportunity for businesses seeking a well-appointed and strategically located office space in a thriving Ann Arbor community. The zip code is 48104.

    Property Features for 2350 Washtenaw Ave

    General Information

    Property type
    Medical offices
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    4,400 SF
    Class
    B
    Total Rate
    20166.67

    Building Details

    Buildings
    2
    Stories
    1

    Spaces For Lease

    at 2350 Washtenaw Ave, Ann Arbor, MI 48104 Contact us
    Unit Suite 6A

    $55 /Mo

    Size
    120 SF
    Contact us

    We can help!

    Listing Contact
    Bart Wise
    Bart Wise

    Learn more

    Property Insight Report

    HighLights

    • Single office suite with shared waiting area and restrooms.
    • Wood flooring and soundproof walls.
    • Excellent for therapists or healthcare professionals.
    • Prime Washtenaw Avenue location, convenient to downtown Ann Arbor, the University of Michigan, and US‑23.
    Property Profile Location Intelligence

    Current Use by Public Records

    Joy Family Center Medical Clinic Freiband Sonya PHD Physician Gottschalk Karen Physician Felicia A. Brabec, PsyD Physician Bradley N. Axelrod, ... Physician

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Ann Arbor
    County
    Washtenaw
    State
    Michigan
    Longitude
    -83.7134223
    Latitude
    42.2604829

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    FAQs

    What type of property is this?
    Medical office - Prime Ann Arbor location, ideal for healthcare.
    Where is this medical office located?
    The property is located at 2350 Washtenaw Ave Ann Arbor, MI.
    What is the lease rate?
    The lease rate is $55 SF/Yr.
    What are key features of this property?
    This property features: Single office suite with shared waiting area and restrooms.; Wood flooring and soundproof walls.; Excellent for therapists or healthcare professionals.
    (734) 662-3778
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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
    2350 Washtenaw Ave Ann Arbor, MI 48104
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    We can help!
    Listing Contact
    Bart Wise
    Bart Wise
    Real Estate License ID: 6502101921
    (734) 662-3778
    Learn more
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