Ann Arbor Flex/Industrial
For Sale
Contact for pricing
625 Avis Dr, Ann Arbor, MI 48108
48,673 SF flex/industrial property available for sale.
Property Size48,673 SF
Price / SF$133.54
Days on Market1883
Property Features for 625 Avis Dr
General Information
Standard status
Active
Size
48,673 SF
Property subtype
Office, Industrial
Listing Agency:
Colliers - Royal Oak/Detroit, Michigan
Listed By:
Jonathan Loos · License #MI 6501407736
(248) 226-1692
Source:
Crexi
Added: Jul 8, 2021
Changed: Aug 26
Last Checked: Sep 2 at 1:52AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Colliers - Royal Oak/Detroit, Michigan
Investment Insights
Based on property information with market context.
This 48,673 square foot property in Ann Arbor, Michigan, is available for sale. The property is suitable for flex space, industrial, office units, office properties and spaces, warehouses, and other commercial real estate uses.
Key Highlights
- No property information was provided to extract selling points.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$463,932
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.14%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$9,278,640
$9.3M
Cap Rate 7%
$6,627,600
$6.6M
Cap Rate 9%
$5,154,800
$5.2M
Market Conditions
NOI Build-Up for 48,673 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$759.3K $15.60/SF
− Vacancy
−$45.6K −$0.94/SF
EGI
$713.7K $14.66/SF
− OpEx
−$249.8K −$5.13/SF
NOI
$463.9K $9.53/SF
Area
Ann Arbor, MI
Vacancy
6.00%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$9,278,640
Cap Rate 7%
$6,627,600
Cap Rate 9%
$5,154,800
Alternative Uses
Best Use
Flex RnD
$6.63M
$5.80M – $7.73M
NOI $463,932 @ 7.0% cap · market cap 7.14%
Second Best
Industrial
$3.55M
$3.11M – $4.14M
NOI $248,583 @ 7.0% cap · market cap 3.82%
Theoretical Best
Office A
$10.75M
$9.41M – $12.54M
NOI $752,477 @ 7.0% cap · market cap 11.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
272
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48108, MI
26,639
Population
12,508
Households
2.1
Avg Household Size
37
Median Age
65%
College-Educated
96%
High-School Grad
16.8 sq mi
ZIP Area
1,586
Density / Sq Mi
$80,425
Median Household Income
$46,434
Median Earnings
$1,316
Median Rent
$378,300
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - 48,673 SF flex/industrial property available for sale.
Where is this flex space located?
The property is located at 625 Avis Dr Ann Arbor, MI.
What is the asking price?
The asking price for this property is $6,500,000.
What are key features of this property?
This property features: No property information was provided to extract selling points.
