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    4001 Stone School Rd Ann Arbor, MI 48108
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    4001 Stone School Rd Ann Arbor, MI 48108

    View on Map
    • Strip malls
    • 22,615 SF
    • 5.00 lot acres
    For Lease
    $26 SF/Yr
    View Listing →
    Retail Space in Stone Plaza For Lease
    $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 Listing
    Property ID
    US43-1208282
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Ahmo's Gyros & Deli / Restaurant

    Property Details for 4001 Stone School Rd

    Year built
    2002
    Lot size
    5.00 lot acres
    Property size
    22,615 SF
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    L -12-15-250-007
    APU
    L1215250007

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Ann Arbor
    County
    Washtenaw
    State
    Michigan
    Longitude
    -83.7189
    Latitude
    42.2289
    CBSA code
    11460
    CBSA name
    ANN ARBOR, MI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $77,264
    $0.00
    $0.00
    $2,784,399
    -
    $0.00
    $0.00
    $5,568,798

    Comparable in this City

    • Value Estimation
      $8,950,000
      83,189 SF

      4585 Washtenaw Ave

      SHOPPING CENTER, STRIP CENTER • 83,189 SF
      4585 Washtenaw Ave, Ann Arbor, MI 48108-1278
      View Details
    • Value Estimation by Request
      12,635 SF

      4860 Washtenaw Ave

      SHOPPING CENTER, STRIP CENTER • 12,635 SF
      4860 Washtenaw Ave, Ann Arbor, MI 48108-3401
      View Details
    • Value Estimation by Request
      26,546 SF

      4555 Washtenaw Ave

      SHOPPING CENTER, STRIP CENTER • 26,546 SF
      4555 Washtenaw Ave, Ann Arbor, MI 48108-1011
      View Details
    • Value Estimation by Request
      14,700 SF

      2835 Carpenter Rd

      SHOPPING CENTER, STRIP CENTER • 14,700 SF
      2835 Carpenter Rd, Ann Arbor, MI 48108-1172
      View Details
    • Value Estimation
      $14,210,000
      154,987 SF

      771 Airport Blvd

      WHOLESALE OUTLET, DISCOUNT STORE • 154,987 SF
      771 Airport Blvd, Ann Arbor, MI 48108-1639
      View Details
    • Value Estimation by Request
      5,401 SF

      233 Ellsworth Rd

      SERVICE STATION (FULL SERVICE) • 5,401 SF
      233 Ellsworth Rd, Ann Arbor, MI 48108-2208
      View Details

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      Retail/Medical/Office Development Opportunity

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      Retail/Medical/Office Development Opportunity

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      Ann Arbor Retail Investment Opportunity

      High-visibility retail property with national tenant in Ann Arbor.
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      12,600 SF

      Retail/Medical/Office Development Opportunity

      Retail/medical/office development opportunity in Ann Arbor's Avis Farms.
      5960 S State Rd, Ann Arbor, MI 48108
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    • Contact for pricing
      69,911 SF

      Ann Arbor Retail Opportunity

      69,911 SF building on 4.51 acres in Ann Arbor.
      425 E Eisenhower Pkwy, Ann Arbor, MI 48108
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    Similar Nearby for Lease

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      Retail Strip Center on State

      New retail strip center with high visibility and ample parking.
      3695 S State St, Ann Arbor, MI 48108
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      Retail Space Available For Lease

      Retail space available for lease in Ann Arbor, Michigan.
      4801 Washtenaw Ave, Ann Arbor, MI 48108
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      Ann Arbor Mixed-Use Building

      Mixed-use office and retail building in Ann Arbor's Southside.
      455 E Eisenhower Pkwy, Ann Arbor, MI 48108
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    • $27 SF/Yr

      Retail, Office, Medical Space Available

      Retail, office, or medical spaces for lease with drive-thru.
      3955 South State St, Ann Arbor, MI 48108
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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
      View Details
    • Contact for pricing

      Ann Arbor Commercial Space

      Commercial property available for rent in Ann Arbor, Michigan.
      5960 S State Rd, Ann Arbor, MI 48108
      View Details
    View Listing
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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
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