Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    540 Avis Dr Ann Arbor, MI 48108

    • Commercial real estate
    • 3.96 lot acres
    For Lease
    View listing
    $10 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-1513524
    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.

    Current Use by Public Records

    • Adept Engineering Solutions / IT Consulting Firm / (Bike/Boat/Book/etc) Store
    • Robert Pasick, Ph.D / Business Management Consultant / Psychologist
    • All Out Fitness / Gym & Fitness Center
    • Quest Martial Arts / Training Center / Sports School
    • drug delivery foundation / Pharmacy

    Property Details for 540 Avis Dr

    Year built
    1990
    Lot size
    3.96 lot acres
    Property type
    Commercial real estate
    APN
    L -12-21-200-028
    APU
    L1221200028

    Description

    This exceptional 1,520-square-foot executive office suite is ideally situated within the Avis Farms Business Park at 540 Avis Drive, Ann Arbor, Michigan, 48108. The single-story building offers a convenient lower-level location with easy access and ample parking (76 spaces total). The suite features an open floor plan complemented by three private offices, providing a flexible workspace suitable for various business needs. The property is zoned BD (Business Development) and boasts well-maintained grounds. Its prime location offers convenient access to major thoroughfares, including the State Street/I-94 interchange, ensuring effortless commutes. Tenants will appreciate the proximity to downtown Ann Arbor and the University of Michigan campus, both within a ten-minute drive. This move-in ready space is immediately available, presenting a unique opportunity for businesses seeking a well-appointed and conveniently located office in a thriving Ann Arbor submarket (Washtenaw W of 23, Washtenaw County). The property's APN is L-12-21-200-028. This is a multi-tenant building.

    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
    -83.738
    Latitude
    42.2143
    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
    $62,980
    $0.00
    $0.00
    $1,494,297
    -
    $0.00
    $0.00
    $2,988,594

    Comparable in this City

    • Value Estimation by Request
      11,541 SF

      2860-2864 Carpenter Rd

      Office Properties & Spaces • 11,541 SF
      2860-2864 Carpenter Rd, Ann Arbor, MI 48108
      View Details
    • Value Estimation by Request
      4.25 Acres

      3005 Boardwalk St

      COMMERCIAL (GENERAL) • 4.25 Acres
      3005 Boardwalk St, Ann Arbor, MI 48108-5218
      View Details
    • Value Estimation by Request
      5.67 Acres

      2514 Braeburn Cir

      COMMERCIAL (GENERAL) • 5.67 Acres
      2514 Braeburn Cir, Ann Arbor, MI 48108-2602
      View Details
    • Value Estimation by Request
      5.26 Acres

      3008 Braeburn Cir

      COMMERCIAL (GENERAL) • 5.26 Acres
      3008 Braeburn Cir, Ann Arbor, MI 48108-2612
      View Details
    • Value Estimation by Request
      4.29 Acres

      3308 Braeburn Cir

      COMMERCIAL (GENERAL) • 4.29 Acres
      3308 Braeburn Cir, Ann Arbor, MI 48108-2618
      View Details
    • Value Estimation by Request
      3.70 Acres

      1401 Briarwood Cir

      COMMERCIAL (GENERAL) • 3.70 Acres
      1401 Briarwood Cir, Ann Arbor, MI 48108-1893
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      5.60 Acres

      Ann Arbor Multiplex Outparcels

      Prime Commercial Land, 5.6 Acres Total
      4 Cor Of Ellsworth & Carpenter Rd, Ann Arbor, MI 48108
      View Details
    • $875,000
      2.26 Acres

      Ann Arbor Commercial Land - 2.26 Acres

      High-traffic location, Business Development zoning.
      0 State St, Ann Arbor, MI 48108
      View Details
    • $495,000
      6.16 Acres

      Ann Arbor Commercial Land - $495K

      6.16 Acres, Prime Development Site
      0 State St, Ann Arbor, MI 48108
      View Details
    • $850,000
      2.80 Acres

      Ann Arbor Commercial Land Parcels

      Prime Ann Arbor land, ready to build.
      4343 Concourse Dr, Ann Arbor, MI 48108
      View Details
    • Contact for pricing
      2.39 Acres

      Avis Farms South: Build-to-Suit Land

      Prime Ann Arbor industrial/commercial land
      0 State St, Ann Arbor, MI 48108
      View Details
    • $6,500,000
      48,673 SF

      Ann Arbor R&D Office/Industrial

      10-acre campus, 48,673 SF, $6.5M
      625 Avis Dr, Ann Arbor, MI 48108
      View Details

    Similar Nearby for Lease

    • $10 SF/Yr
      1,520 SF

      Avis Farm Office Suite - Ann Arbor

      1,520 SF Office, Ample Parking, Immediate Availability
      540 Avis Dr, Ann Arbor, MI 48108
      View Details
    • Contact for pricing
      28,776 SF

      Ann Arbor Flex Space For Lease

      Modern Flex Space, Ann Arbor, MI
      1143 Highland Dr, Ann Arbor, MI 48108
      View Details
    • Contact for pricing
      2,370 SF

      Retail/Medical Space Available For Rent

      Former Urgent Care and Groomer spaces available for rent.
      4003 Carpenter Rd, Pittsfield Township, MI 48108
      View Details
    • Contact for pricing
      100,477 SF

      Ann Arbor Office Space

      Office building with 100,477 square feet available for rent.
      100 Phoenix Dr, Ann Arbor, MI 48108
      View Details
    • $1,900 /Mo
      1,101 SF

      First Floor Condo with Garage

      Two-bedroom condo with in-unit laundry, garage, and community pool.
      1324 Heatherwood Ln, Ann Arbor, MI 48108
      View Details
    • $28 SF/Yr
      37,623 SF

      Ann Arbor Office Space Available

      Prime Ann Arbor Office Suites, 1,900-2,057 SF
      305 Eisenhower Pkwy, Ann Arbor, MI 48108
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    540 Avis Dr
    Ann Arbor, MI 48108
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.