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    20401 Old Us Highway 12 Chelsea, MI 48118

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    For Lease
    Contact for pricing

    15,550 SF Flex Space, Ann Arbor Area

    Lot size:
    15,550 SF

    Property Features for 20401 Old Us Highway 12

    General Information

    Property type
    Individual retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    15,550 SF
    Class
    C
    Total Rate
    13930.21

    Building Details

    Year Built/Renovated
    1977/2021
    Buildings
    1
    Stories
    1

    Spaces For Lease

    at 20401 Old Us Highway 12, Chelsea, MI 48118 Contact us
    Unit 4

    $10 /Mo

    Size
    4,130 SF
    Contact us

    We can help!

    Listing Contact
    Jeff Evans
    Jeff Evans

    Listing Agent: Jeff Evans

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

    Learn more

    Property Insight Report

    Overview

    This 15,550-square-foot industrial flex space, located at 20401 W Old US Hwy 12 in Chelsea, Michigan, presents a unique opportunity. The single-story, Class C building, constructed in 1977 and renovated in 2021, sits on 2.2 acres of land in the Washtenaw County's Washtenaw W of 23 submarket, close to Ann Arbor. The property is zoned I-1 (Industrial) and features a mix of uses, ideal for a variety of businesses. The building offers 4,130 contiguous square feet, perfect for a machine shop, contractor, or similar industrial user. Access is provided via one grade-level overhead door and one loading dock. Inside, you'll find an 18-foot ceiling with 10-foot clear height, a shop sink, restroom facilities, radiant and forced air heating, and 512 square feet of office space. Exterior features include fenced outdoor storage. The property boasts convenient access to I-94, downtown Chelsea, Dexter, and is only 20 minutes west of Ann Arbor. Utilities include 220-amp, three-phase power. The APN is 06-06-13-275-002. This property is situated near the Chelsea Fair Grounds and the intersection of Old US 12 and M-52 (Main Street). Multiple tenants are possible.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Flex space

    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
    Chelsea
    County
    Washtenaw
    State
    Michigan
    Longitude
    -84.027239046873
    Latitude
    42.307112157727

    Nearby Similar for Lease

    • $25 SF/Yr
      3,684 SF

      Prime Chelsea Office Space

      Standalone Office, 3684 sq ft, Fully Renovated
      50 Fletcher Rd, Chelsea, MI 48118
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    • $25 SF/Yr
      27,280 SF

      Downtown Chelsea Restaurant Space

      Prime Main Street location, 2,941 SF
      115 Main St, Chelsea, MI 48118
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    • Contact for pricing
      52,968 SF

      Chelsea Retail Center Opportunity

      High-Visibility Retail Space Available
      1620 Main St, Chelsea, MI 48118
      View Details

    FAQs

    What type of property is this?
    Individual retail property - 15,550 SF Flex Space, Ann Arbor Area
    Where is this individual retail property located?
    The property is located at 20401 Old Us Highway 12 Chelsea, MI.
    What is the lease rate?
    The lease rate is $10 SF/Yr.
    What are key features of this property?
    This property features: 15,550 SF industrial flex space on 2.2 acres in Chelsea, MI.; 4,130 SF contiguous warehouse space with 10' clear height, ideal for a machine shop or contractor.; 512 SF of office space.
    (734) 926-0222 Call to check price and availability
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    Chelsea, MI 48118
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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
    20401 Old Us Highway 12 Chelsea, MI 48118
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Jeff Evans
    Jeff Evans
    Real Estate License ID: #6506045981
    (734) 926-0222
    Learn more
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