221 Main St Ann Arbor, MI 48104-1150
- Commercial real estate
- 8,580 SF
- 0.07 lot acres
Sep 22, 2022
Current Use by Public Records
- Blanchard & Walker PLLC / Law Firm
- David M. Blanchard, Esq. / Law Firm
- Deborah La Belle Law Offices / Law Firm
- Carole M. Stanyar / Law Firm
- Streeter Patricia / Law Firm
Property Details for 221 Main St
- Year built
- 1901
- Lot size
- 0.07 lot acres
- Property size
- 8,580 SF
- Zone code
- D1
- Property type
- Commercial real estate
- APN
- 09-09-29-140-016
- APU
- 90929140016
Description
This exceptional move-in ready office space, totaling 2,860 square feet, is situated in a charming, historic building in the heart of downtown Ann Arbor. The property boasts attractive features including exposed brick walls and arched doorways, creating a unique and inviting atmosphere. The suite offers abundant natural light, a large open workspace, six private offices, two conference rooms, a fully equipped kitchen, and a restroom complete with a shower. A private and secure elevator entrance adds to the convenience and exclusivity. The building, constructed in 1901, comprises two buildings with three stories and features an elevator. The property is zoned D1 and has an APN of 09-09-29-140-016. Its prime location offers easy access to established restaurants, businesses, and retail shops, with convenient proximity to Kerrytown. Public parking garages and lots are nearby, and the location provides excellent access to major transportation arteries, including M-14 and I-94, as well as the University of Michigan. The total building square footage is 8,580 square feet, with 2,860 square feet currently available. The asking price is $32-$35 per square foot, modified gross. The cross street is Miller Avenue. This locally owned and managed property presents a fantastic opportunity for businesses seeking a prestigious and functional office space in a vibrant downtown setting.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $3,035,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $1,675,000
- 6.5%
- $1,550,000
- 7%
- $1,440,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $1,722,000
- AI Estimate
- $1,722,000
Market price range: $879k - $2.66MMarket price range: $879k - $2.66M
Get a detailed, property-specific valuation — fast and free
Location Insight
- Map
- Local Demand
- City
- Ann Arbor
- County
- Washtenaw
- State
- Michigan
- Longitude
- -83.7487
- Latitude
- 42.2831
- CBSA code
- 11460
- CBSA name
- ANN ARBOR, MI METROPOLITAN STATISTICAL AREA