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    202 Miller Ave Ann Arbor, MI 48103

    Sponsored
    For Sale
    $5,000,000

    Downtown Ann Arbor, High-Traffic Location

    Property size:
    1,172 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional Class A retail property, a fully operational and approved cannabis provisioning center, is offered for sale at $5,000,000. Located in the heart of downtown Ann Arbor at 202 Miller Ave, this 1,172 square foot space boasts a prime location just one block from Main Street, at the corner of Miller Avenue and North Ashley Street. The building, situated on a 0.67-acre lot (APN 09-29-150-005), underwent a complete renovation in 2020, featuring modern amenities and a sophisticated design by Damian Farrell Design Group PLLC. Custom cabinetry and fittings by Object Space Studio enhance both aesthetics and functionality. The spacious layout ensures a comfortable customer experience. This thriving business benefits from a strong, steady clientele and a desirable location with high visibility. Ample parking is available on-site, supplemented by street parking and a municipal parking structure across the street. Its convenient location near major highways (US-14, US-23, and I-94) ensures easy access for a wide customer base. The property is zoned C2B and includes a single building with one story. A lease-back option for the building is available. This presents a unique opportunity to acquire a well-established, high-performing business in a vibrant and growing market. The property's proximity to Ann Arbor City Hall, police and fire departments, and city and county courthouses guarantees consistent foot traffic.

    Property Features for 202 Miller Ave

    General Information

    Property type
    Individual retail properties
    Square Feet
    1,172 SF
    Class
    A
    Lot Size
    29,185 SF

    Building Details

    Year Renovated
    2020
    Buildings
    1
    Stories
    1
    Units
    1

    HighLights

    • Established cannabis provisioning center with approved license.
    • Leaseback option available for building owner.
    • Strong, steady clientele and market presence.
    • High‑visibility corner location at Miller Ave & N. Ashley St, one block from Main St.
    • Desirable downtown location with ample parking (on‑site & street, plus municipal structure nearby).
    • Fully renovated in 2020.
    Property Profile Location Intelligence

    Current Use by Public Records

    Information Entropy Dispensary ... Cannabis Store Information Entropy Downtown Cannabis Store

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Hair Salon Dental Office Nail Salon Clothing Store Building Supply Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Ann Arbor
    County
    Washtenaw
    State
    Michigan
    Longitude
    -83.7498497
    Latitude
    42.2834877

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    FAQs

    What type of property is this?
    Individual retail property - Downtown Ann Arbor, High-Traffic Location
    Where is this individual retail property located?
    The property is located at 202 Miller Ave Ann Arbor, MI.
    What is the asking price?
    The asking price for this property is $5,000,000.
    What are key features of this property?
    This property features: Established cannabis provisioning center with approved license.; Leaseback option available for building owner.; Strong, steady clientele and market presence.
    Request Owner's contact information
    202 Miller Ave Ann Arbor, MI 48103
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    Ann Arbor, MI 48103
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    Realmo Value Estimation

    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.

    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.

    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
    202 Miller Ave Ann Arbor, MI 48103
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