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    Michigan Ave Saline, MI 48176
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    Michigan Ave, Saline, MI 48176

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    • Retail properties & Spaces
    • 3,770 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 0 Michigan Ave

    Property type
    Retail properties & Spaces

    Description

    The Oaks Plaza, located at 984 E. Michigan Ave in Saline, Michigan, presents a remarkable retail leasing opportunity. This 3,770 square foot space, currently vacant, offers exceptional visibility and accessibility as a premium endcap unit within a thriving commercial center in Washtenaw County. Previously occupied by a Trinity Health physical therapy practice, the space is adaptable to a variety of retail uses. The property boasts a flexible layout, allowing for customization to suit specific business needs. With a total of 3,770 square feet available, this space is ideal for businesses seeking significant presence and high foot traffic. The center is anchored by a brand new Planet Fitness, ensuring a steady stream of potential customers. This location provides excellent exposure along a major thoroughfare, making it an attractive option for businesses seeking high visibility and convenient access for their clientele. The space is ready for immediate occupancy, offering a unique chance to establish a strong retail presence in a vibrant and growing community. Interested parties are encouraged to inquire for further details and leasing information. The property is classified as retail, with a subtype of endcap and previous use as physical therapy. Multiple tenancies are possible within the space.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Saline
    County
    Washtenaw
    State
    Michigan
    Longitude
    -83.7633
    Latitude
    42.1731

    Comparable in this City

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      88,203 SF

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    • Value Estimation
      $7,500,000
      24,140 SF

      7112 Michigan Ave

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      7112 Michigan Ave, Saline, MI 48176-8705
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    • Value Estimation
      $16,460,000
      191,215 SF

      7000 Michigan Ave

      WHOLESALE OUTLET, DISCOUNT STORE
      7000 Michigan Ave, Saline, MI 48176-9514
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    • Value Estimation by Request
      6,400 SF

      6947 Michigan Ave

      VEHICLE SALES, RENTALS
      6947 Michigan Ave, Saline, MI 48176-8917
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    • Value Estimation by Request
      2,269 SF

      7030 Michigan Ave

      FINANCIAL BUILDING
      7030 Michigan Ave, Saline, MI 48176-9514
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    • Value Estimation
      $545,000
      4,088 SF

      6139 Saline Ann Arbor Rd

      CONVENIENCE STORE
      6139 Saline Ann Arbor Rd, Saline, MI 48176-8805
      View Details

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      Retail Space For Lease

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    • $2,000 /Mo

      Commercial Space on Michigan Avenue

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      12,100 SF

      New Industrial Suites Available Soon

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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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