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    Property profile & analytics

    3752 State St Ann Arbor, MI 48108

    • Retail properties
    • 4,485 SF
    • 1.80 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties

    Property Details for 3752 State St

    Year built
    2009
    Lot size
    1.80 lot acres
    Property size
    4,485 SF
    Property type
    Retail properties
    Property subtype
    Restaurants

    Description

    This exceptional 4,485-square-foot commercial property, located at 3752 S State St in Ann Arbor, Michigan, presents a unique investment opportunity. Built in 2009, this single-tenant building sits on a spacious 1.8-acre lot in Washtenaw County, offering ample parking and high visibility. Previously a McDonald's, the property is adaptable to a variety of uses, including medical office, creative office, retail, or service-based businesses. The open floor plan provides flexibility for customization, allowing businesses to create a space perfectly suited to their operational needs. The property's classification as both retail and office space broadens its appeal to a wider range of potential tenants. Its single-story design offers convenient accessibility. The property's location in Ann Arbor, a thriving Michigan city, ensures high traffic and exposure. This is an excellent opportunity to acquire a well-situated, versatile commercial space in a desirable location. The property's size and layout make it ideal for businesses seeking a prominent presence in a busy area. The ample parking ensures convenient access for clients and employees. This property offers a blend of functionality and prime location, making it an attractive option for a variety of commercial ventures. The 2009 construction ensures relatively modern building systems and infrastructure.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Ann Arbor
    County
    Washtenaw
    State
    Michigan
    Longitude
    -83.7401
    Latitude
    42.2333

    Comparable in this City

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      12,600 SF

      5960 State Rd

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      12,644 SF

      3949-3957 State St

      Medical offices • 12,644 SF
      3949-3957 State St, Ann Arbor, MI 48108
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      4,485 SF

      3752 State St

      Medical offices • 4,485 SF
      3752 State St, Ann Arbor, MI 48108
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    • Value Estimation by Request
      93,899 SF

      4655 Washtenaw Ave

      Restaurants • 93,899 SF
      4655 Washtenaw Ave, Ann Arbor, MI 48108
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    • Value Estimation by Request
      8,405 SF

      2725 Packard St

      Medical offices • 8,405 SF
      2725 Packard St, Ann Arbor, MI 48108
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    • Value Estimation by Request
      1,160 SF

      4660 Washtenaw Ave

      MEDICAL BUILDING • 1,160 SF
      4660 Washtenaw Ave, Ann Arbor, MI 48108-1309
      View Details

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      Retail/Medical/Office Development Opportunity

      New construction near Avis Farms, ideal for retail/office.
      5950-5960 South State Rd, Ann Arbor, MI 48108
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      Premium Office Space in Ann Arbor

      Class A office building with flexible suites and convenient location.
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    Similar Nearby for Lease

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      Retail, Office, Medical Space Available

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    3752 State St
    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
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