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    4343 Concourse Dr Ann Arbor, MI 48108

    Sponsored
    For Lease
    $19 SF/Yr

    Prime Ann Arbor location, 4,780 SF available.

    Lot size:
    37,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    421
    This exceptional Class A office building, constructed in 2004, offers 37,000 square feet of versatile space in a highly desirable Ann Arbor location. The property, situated at 4343 Concourse Drive, boasts a convenient Southeast Ann Arbor (Pittsfield Township) location, offering easy access to I-94, Costco, thriving commercial areas, and the Briarwood Mall. The building features a three-story design with abundant natural light provided by numerous windows. Individual HVAC systems ensure climate control flexibility for each tenant. Currently, 4,780 square feet of office space is immediately available for lease. The building is zoned for office use and features a single building with three stories. The property's address is 4343 Concourse Drive, Ann Arbor, Michigan, 48108, and is located southeast of the Ellsworth and State Street intersection. The parcel number is L-12-16-200-030 in Washtenaw County. This property is ideal for businesses seeking a modern, efficient, and conveniently located office space in a thriving commercial area. The building's multiple tenancy allows for flexibility in lease terms and space requirements. This is a rare opportunity to secure premium office space in a highly sought-after Ann Arbor location.

    Property Features for 4343 Concourse Dr

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    37,000 SF
    Class
    A
    Total Rate
    58583.33

    Building Details

    Year Built
    2004
    Buildings
    1
    Stories
    3

    Spaces For Lease

    at 4343 Concourse Dr, Ann Arbor, MI 48108 Contact us
    Unit Suite 150

    $19 /Mo

    Size
    1,175 SF
    Contact us
    Unit Suite 230

    $19 /Mo

    Size
    1,175 SF
    Contact us
    Unit Suite 370

    $19 /Mo

    Size
    1,562 SF
    Contact us
    Unit Suite 210A

    $19 /Mo

    Size
    718 SF
    Contact us
    Unit Suite 270

    $19 /Mo

    Size
    1,562 SF
    Contact us
    Show more

    We can help!

    Listing Contact
    Bart Wise
    Bart Wise

    Learn more

    Property Insight Report

    HighLights

    • Located off South State Street, near Ann Arbor Airport.
    • One mile south of I‑94 interchange.
    • Close to shopping, dining, and hotels.
    • 37,000 SF, three‑story brick office building.
    • Abundant natural light.
    • Ample parking.
    Property Profile Location Intelligence

    Current Use by Public Records

    Ultraseal International Chemical Plant Montronix, Inc. Industrial Manufacturer CTC Engineering Engineering Consultant Vanessa Marry, LMSW Foster Care Service Life Support Services ... High School

    Suggested Use

    Restaurant Real Estate Agency Law Firm Dental Office Spa & Massage Center Building Supply Hair Salon Big Box & Wholesale Store Auto Repair Shop 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
    -83.7324483
    Latitude
    42.2246176

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    FAQs

    What type of property is this?
    Office Property / Space - Prime Ann Arbor location, 4,780 SF available.
    Where is this office property / space located?
    The property is located at 4343 Concourse Dr Ann Arbor, MI.
    What is the lease rate?
    The lease rate is $19 SF/Yr.
    What are key features of this property?
    This property features: Located off South State Street, near Ann Arbor Airport.; One mile south of I-94 interchange.; Close to shopping, dining, and hotels.
    (734) 662-3778
    Request Owner's contact information
    4343 Concourse Dr Ann Arbor, MI 48108
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    Ann Arbor, MI 48108
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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
    4343 Concourse Dr Ann Arbor, MI 48108
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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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