Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Loft Space in Central District Title is generated by Realmo AI

    320 S Main St, Ann Arbor, MI 48104

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    Second floor loft with open ceiling and brick walls.

    Type:Office
    Added:
    Mar 2, 2020
    Days on Market:
    2286
    Last Refresh:
    May 19 at 8:40 pm

    Property Features for 320 S Main St

    General Information

    Standard status
    Active
    Property subtype
    Office

    Spaces For Lease

    at 320 S Main St Contact us

    We can help!

    Listing Contact
    Joe Palms, CCIM

    Listing agent Joe Palms, CCIM License #MI 6501273079

    Listing office Swisher Commercial

    Listing date Mar 2, 2020

    Source Crexi

    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 Swisher Commercial

    HighLights

    • Prime location in the heart of Ann Arbor's Central Business District, surrounded by restaurants and entertainment.
    • Unique loft space featuring dramatic open ceiling rafters and brick walls.
    • Functional office layout including a break area, conference room, phone booth, and open areas.
    • Convenient access with entrances at both the front and back of the building.
    • Ample parking options including a city parking lot at the rear (Kline lot), municipal lots, structures, and street parking.
    • Zoned D1, offering flexible usage possibilities.

    Overview

    This second-floor loft space features dramatic open ceiling rafters and brick walls. Suite C includes a break area, conference room, phone booth, and open areas. The building has entrances at the front and back. A city parking lot (Kline lot) is located at the rear of the building. Municipal lots, structures, and street parking are available on Main Street and surrounding streets. The property is situated above Conor O'Neill's Irish pub in the heart of Ann Arbor's Central Business District, a restaurant and entertainment area. It is zoned D1.
    Property Profile Location Intelligence

    Current Use by Public Records

    RPM Ventures Bank McKinley Companies Property Management Company FedEx Drop Box Postal Service Q+M Marketing & Advertising Fujiarts Corporate Office

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Hair Salon Dental Office Nail Salon Building Supply Daycare Center Gym & Fitness 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
    -83.7480022
    Latitude
    42.2839107

    Nearby Similar for Lease

    • $18 SF/Yr
      8,610 SF

      Updated Brick Building Near Arb

      Updated brick building with parking near the Arb in Ann Arbor.
      1923 Geddes Avenue, Ann Arbor, MI 48104
      View Details
    • $12,500/Mo
      5,360 SF

      Downtown Ann Arbor Business Opportunity

      Two-level restaurant and cigar lounge in downtown Ann Arbor.
      207 N Main Street, Ann Arbor, MI 48104
      View Details
    • $4,000/Mo
      2,000 SF

      Remodeled Office Building on Main

      Spacious, remodeled office building with parking in accessible Ann Arbor.
      2405 S Main Street, Ann Arbor, MI 48103
      View Details
    • $62 SF/Yr
      2,026 SF

      Ann Arbor Commercial Space For Rent

      Prime commercial space in high-traffic Ann Arbor location.
      125 Briarwood Circle, Ann Arbor, MI 48108
      View Details
    • $26 SF/Yr
      1,200 SF

      Retail Space in Stone Plaza

      1,200 SF retail space available in Ann Arbor, MI.
      4001 Stone School Road, Ann Arbor, MI 48108
      View Details
    • $28 SF/Yr
      1,686 SF

      Restored Historic Office Suite

      Contemporary office suite in a restored, historic building.
      213 W Liberty Street, Ann Arbor, MI 48104
      View Details
    • $24 SF/Yr
      15,000 SF

      Vacant End Cap Retail Suite

      Turnkey end cap with private rooms, reception, and restroom, ready for a new retail or service tenant.
      4335 Jackson Road, Ann Arbor, MI 48103
      View Details
    • $16 SF/Yr
      20,496 SF

      Office Space with Attached Warehouse Option

      Mostly open office layout with private rooms, with an attached warehouse option and ample parking at a highly visible site.
      1935 S Industrial Highway, Ann Arbor, MI 48104
      View Details
    • $25 SF/Yr
      2,202 SF

      Ann Arbor First-Floor Office Space

      2,202 SF office space near downtown Ann Arbor and I-94.
      900 Victors Way, Ann Arbor, MI 48108
      View Details
    • $21 SF/Yr
      568 SF

      Ann Arbor Yoga/Dance Studio

      Yoga and dance studio available for lease in Ann Arbor.
      2385 S Huron Parkway, Ann Arbor, MI 48104
      View Details
    • Sponsored
      $129-$4,176/Mo
      11-1,292 SF

      MI, Ann Arbor - Frank Lloyd Wright Dr

      24 Frank Lloyd Wright Dr, Unit L-4000, Ann Arbor, MI 48105
      View Details
    • $26 SF/Yr
      1,200 SF

      Retail Space in Stone Plaza

      1,200 SF retail space available in Ann Arbor.
      4001 Stone School Rd 4059, PittsfieldCharterTownship_Washtenaw, MI 48108
      View Details

    FAQs

    What type of property is this?
    Office units - Second floor loft with open ceiling and brick walls.
    Where is this office units located?
    The property is located at 320 S Main St Ann Arbor, MI.
    What is the lease rate?
    The lease rate is $22 SF/Yr.
    What are key features of this property?
    This property features: Prime location in the heart of Ann Arbor's Central Business District, surrounded by restaurants and entertainment.; Unique loft space featuring **dramatic open ceiling rafters and brick walls.**; Functional office layout including a break area, conference room, phone booth, and open areas.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Joe Palms, CCIM
    Real Estate License ID: MI 6501273079
    Request Owner's contact information
    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.
    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
    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
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    320 S Main St, Ann Arbor, MI 48104
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!