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    4801 Washtenaw Ave Ann Arbor, MI 48108
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    Property profile & analytics

    4801 Washtenaw Ave, Ann Arbor, MI 48108

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    • Retail space
    • 19,332 SF
    • 1.80 lot acres
    For Lease
    $10 SF/Yr
    View Listing →
    Retail Space Available For Lease For Lease
    $10 SF/Yr

    Retail Space Available For Lease

    Retail space available for lease in Ann Arbor, Michigan.

    4801 Washtenaw Ave, Ann Arbor, MI 48108
    View Listing
    Property ID
    US43-1420245
    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

    • American Freight Furniture and Mattress / Furniture & Home Goods / Home Decor Store

    Property Details for 4801 Washtenaw Ave

    Year built
    1973
    Lot size
    1.80 lot acres
    Property type
    Retail space
    APN
    L -12-01-401-003
    APU
    L1201401003

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    — — 4801 Washtenaw LLC — Deed Of Trust · related —

    Description

    This exceptional 19,550-square-foot retail space is available for lease at 4801 Washtenaw Ave in Ann Arbor, Michigan. Located in the Washtenaw E of 23 submarket, this single-tenant building sits on a generous 1.8-acre lot and offers ample parking with 20 spaces. Built in 1973 and renovated in 1988, the property boasts a single-story design, providing convenient access and functionality. The entire 19,550 square feet is currently vacant, presenting a unique opportunity for a business seeking significant space. The property is zoned C-2, allowing for a variety of commercial uses. Its convenient location on Washtenaw Avenue, with cross-street access to US 23, ensures high visibility and accessibility for customers. The property's address is 4801 Washtenaw Ave, Ann Arbor, MI 48108, and its parcel number is L-12-01-401-003 in Washtenaw County. This prime location and substantial square footage make this property an ideal investment for a variety of retail businesses. The property's size and location offer significant potential for growth and success. Serious inquiries are encouraged.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,532,000
      Market price range: $1.37M - $2.92M
      AI Estimate
      $2,532,000
      Market price range: $1.37M - $2.92M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $2,225,000
      Current use
      COMMERCIAL (GENERAL)
      $3,830,000
      Change: +72% Conversion: Easy
      OFFICE BUILDING
      $2,910,000
      Change: +31% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Ann Arbor
    County
    Washtenaw
    State
    Michigan
    Longitude
    -83.665
    Latitude
    42.2516
    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
    $36,164
    $0.00
    $0.00
    $1,156,400
    -
    $0.00
    $0.00
    $2,312,800

    Comparable in this City

    • Value Estimation
      $9,590,000
      73,074 SF

      3900 State Rd

      RETAIL STORES (PERSONAL SERVICES)
      3900 State Rd, Ann Arbor, MI 48108-1661
      View Details
    • Value Estimation
      $1,330,000
      8,800 SF

      3666 State St

      RETAIL STORES (PERSONAL SERVICES)
      3666 State St, Ann Arbor, MI 48108-1656
      View Details
    • Value Estimation
      $940,000
      6,230 SF

      4864 Washtenaw Ave

      RETAIL STORES (PERSONAL SERVICES)
      4864 Washtenaw Ave, Ann Arbor, MI 48108-3442
      View Details
    • Value Estimation
      $1,950,000
      13,080 SF

      550 State Cir

      RETAIL STORES (PERSONAL SERVICES)
      550 State Cir, Ann Arbor, MI 48108-1644
      View Details
    • Value Estimation by Request
      2,962 SF

      2990 Carpenter Rd

      RETAIL STORES (PERSONAL SERVICES)
      2990 Carpenter Rd, Ann Arbor, MI 48108-1130
      View Details
    • Value Estimation by Request
      2,319 SF

      4600 Washtenaw Ave

      RETAIL STORES (PERSONAL SERVICES)
      4600 Washtenaw Ave, Ann Arbor, MI 48108-1302
      View Details

    Similar Nearby for Sale

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      3,348 SF

      Ann Arbor Retail Investment Opportunity

      High-visibility retail property with national tenant in Ann Arbor.
      3000 Packard St, Ann Arbor, MI 48108
      View Details
    • $2,000,000

      Retail/Medical/Office Development Opportunity

      New construction retail/medical/office space in Ann Arbor, Michigan.
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      2,950 SF

      Retail Suites at Platt Road

      Functional retail suites in a well-maintained neighborhood shopping center.
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      View Details
    • $690,000

      Ann Arbor Corner Retail Investment

      High-visibility retail property with national tenant in Ann Arbor.
      3000 Packard St, Ann Arbor, MI 48108
      View Details
    • $750,000

      Multi-Tenant Building on Washtenaw Avenue

      8,742 SF multi-tenant building on 0.73 acres.
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      View Details
    • Contact for pricing
      69,911 SF

      Ann Arbor Retail Opportunity

      69,911 SF building on 4.51 acres in Ann Arbor.
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      View Details

    Similar Nearby for Lease

    • Contact for pricing
      30,000 SF

      Retail Space Near I-94 Ramp

      Up to 30,000 SF retail space near I-94.
      3900 S State St, Ann Arbor, MI 48108
      View Details
    • $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
      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 Rd, Ann Arbor, MI 48108
      View Details
    • Contact for pricing

      Retail Space Available For Lease

      Retail space available for lease in Ann Arbor, Michigan.
      4801 Washtenaw Ave, Ann Arbor, MI 48108
      View Details
    • Contact for pricing

      Ann Arbor Retail Opportunity

      Retail space for lease or sale in Ann Arbor, Michigan.
      425 E Eisenhower Pkwy, Ann Arbor, MI 48108
      View Details
    • $26 SF/Yr

      Retail Space in Stone Plaza

      1,200 SF retail space available in Ann Arbor.
      4001 Stone School 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.

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