Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    3948 Ranchero Dr Ann Arbor, MI 48108

    Sponsored
    For Sale
    $2,028,600

    14,700 SF Office, Vacant, $138/SF

    Property size:
    14,700 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    402
    This exceptional 14,700-square-foot Class B office building in Ann Arbor, Michigan, presents a unique investment opportunity. Located at 3948 Ranchero Drive, this single-story, 2000-built structure sits on a peaceful, low-traffic road, offering a tranquil work environment. The property boasts a beautiful brick exterior with abundant natural light from its expansive windows. Inside, you'll find modern office space with private entrances and high-end finishes. The building is situated on a picturesque lot featuring mature trees, scenic ponds, and streams, creating a serene atmosphere. Its convenient location provides immediate access to I-94, ensuring easy commutes and efficient transportation. Furthermore, it's just eight minutes from downtown Ann Arbor and the University of Michigan's central campus. The property is zoned PUD (Planned Unit Development) and features ample parking. The asking price is $2,028,600, translating to $138 per square foot. This vacant building presents a blank canvas for a discerning buyer to customize and create their ideal workspace. The property's APN is L-12-08-310-024. This is a rare opportunity to acquire a well-maintained, modern office building in a highly desirable location.

    Property Features for 3948 Ranchero Dr

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    14,700 SF
    Class
    B

    Building Details

    Year Built
    2000
    Buildings
    1
    Stories
    1
    Units
    1

    HighLights

    • $2,028,600 asking price for a vacant, 14,700 square foot Class B office building.
    • Single‑story, 14,700 SF building on a 1‑acre lot, built in 2000.
    • Modern office space with private entrances and high‑end finishes.
    • Located on a quiet road with low traffic, featuring exceptional landscaping.
    • Excellent access to I‑94, 8 minutes from downtown Ann Arbor and the University of Michigan.
    Property Profile Location Intelligence

    Current Use by Public Records

    Neighborly Hvac Contractor House Cleaning & Maid ... House Cleaning Service

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Ann Arbor
    County
    Washtenaw
    State
    Michigan
    Longitude
    -83.7553569
    Latitude
    42.2302368

    Nearby Similar for Sale

    • $975,000
      1.10 Acres

      Twin Home on Picturesque Acreage

      Twin home on a one-acre lot, ideal for rental income.
      5183 Christine Dr, Ann Arbor, MI 48103
      View Details
    • $2,100,000
      0.07 Acres

      Luxury Duplex Near Big House

      Ann Arbor duplex/condo, steps from stadium, rental income potential.
      460 W Stadium Blvd, Ann Arbor, MI 48103
      View Details
    • $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
    • $2,800,000
      0.15 Acres

      Ann Arbor Multifamily Investment Opportunity

      Historic 11-unit multifamily property near University of Michigan.
      1136 Prospect #1 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
    • $999,950
      Pending

      Ann Arbor Equestrian Facility

      Equestrian facility on 59.97 acres in Ann Arbor, Michigan.
      1436 Honey Run Dr, Ann Arbor, MI 48103
      View Details
    • $1,950,000
      0.28 Acres

      Reimagined Duplex Near University of Michigan

      Turnkey duplex near U-M, ideal for families or investors.
      1702 Hill St, Ann Arbor, MI 48104
      View Details
    • $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
    • $850,000
      2,220 SF

      Turnkey Assisted Living Facility

      Fully operational assisted living facility in Ann Arbor, Michigan.
      2106 Camelot Rd, Ann Arbor, MI 48104
      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
    • $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
    • $420,000
      0.08 Acres

      Updated Duplex in Ann Arbor

      Updated duplex near downtown Ann Arbor with leases through 2026.
      215 Bucholz Ct, Ann Arbor, MI 48103
      View Details

    FAQs

    What type of property is this?
    Office Property / Space - 14,700 SF Office, Vacant, $138/SF
    Where is this office property / space located?
    The property is located at 3948 Ranchero Dr Ann Arbor, MI.
    What is the asking price?
    The asking price for this property is $2,028,600.
    What are key features of this property?
    This property features: $2,028,600 asking price for a vacant, 14,700 square foot Class B office building.; Single-story, 14,700 SF building on a 1-acre lot, built in 2000.; Modern office space with private entrances and high-end finishes.
    Request Owner's contact information
    3948 Ranchero Dr 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.
    3948 Ranchero Dr
    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
    3948 Ranchero Dr 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
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.