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    625 Avis Dr Ann Arbor, MI 48108
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    Property profile & analytics

    625 Avis Dr Ann Arbor, MI 48108

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    • Office buildings
    • 48,106 SF
    • 10.87 lot acres
    For Sale
    $6,500,000
    View Listing →
    Ann Arbor Flex/Industrial Property For Sale
    $6,500,000
    48,673 SF

    Ann Arbor Flex/Industrial Property

    48,673 SF flex/industrial property available for sale.

    625 Avis Dr, Ann Arbor, MI 48108
    View Listing
    Property ID
    US43-0461571
    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 Customer Satisfaction / Business Management Consultant
    • CSat Investment Advisory / Consultant
    • Reliable Appliance Repair / Home Appliance Store
    • A CSI LLC / Business Management Consultant

    Property Details for 625 Avis Dr

    Year built
    1988
    Lot size
    10.87 lot acres
    Property size
    48,106 SF
    Property type
    Office buildings
    APN
    L -12-20-100-006
    APU
    L1220100006

    Description

    This exceptional 48,673-square-foot research and development facility at 625 Avis Drive is available for lease. The property offers a flexible layout, with a minimum divisible space of 16,000 square feet and the potential to lease the entire 48,673 square feet contiguously. Currently, the entire building is vacant, presenting a unique opportunity for a single tenant or multiple tenants. Situated on a generous 10.87-acre lot, the property boasts 2.5 acres of vacant land, allowing for future expansion. The building features a beautiful auditorium, a full kitchen and cafeteria, and ample parking. Its strategic location provides quick access to I-94 and US-23, enhancing logistical efficiency. The property is equipped with a robust electrical system (1600 Amps, 480 Volt) and a backup emergency generator, ensuring business continuity. The serene setting, nestled in a gorgeous wooded area on a lake, offers a tranquil and productive work environment. The asking price for the entire property is $6,500,000. This property is ideal for a company seeking a large, well-equipped, and conveniently located R&D facility.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,984,000
      Market price range: $3.09M - $10.9M
      AI Estimate
      $3,984,000
      Market price range: $3.09M - $10.9M

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

    Location Insight

    • Map
    • Local Demand
    City
    Ann Arbor
    County
    Washtenaw
    State
    Michigan
    Longitude
    -83.7394
    Latitude
    42.2118
    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
    $120,613
    $0.00
    $0.00
    $2,251,340
    -
    $0.00
    $0.00
    $4,502,680

    Comparable in this City

    • Value Estimation
      $2,860,000
      21,770 SF

      640 Avis Dr

      OFFICE BUILDING • 21,770 SF
      640 Avis Dr, Ann Arbor, MI 48108-8952
      View Details
    • Value Estimation
      $4,750,000
      35,057 SF

      650 Avis Dr

      OFFICE BUILDING • 35,057 SF
      650 Avis Dr, Ann Arbor, MI 48108-9623
      View Details
    • Value Estimation
      $3,045,000
      24,973 SF

      400 Morgan Rd

      OFFICE BUILDING • 24,973 SF
      400 Morgan Rd, Ann Arbor, MI 48108-9100
      View Details
    • Value Estimation
      $4,105,000
      32,478 SF

      1136 Oak Vly Dr

      OFFICE BUILDING • 32,478 SF
      1136 Oak Vly Dr, Ann Arbor, MI 48108-9624
      View Details
    • Value Estimation by Request
      200 SF

      4240 Packard St

      OFFICE BUILDING • 200 SF
      4240 Packard St, Ann Arbor, MI 48108-1508
      View Details
    • Value Estimation
      $860,000
      3,800 SF

      717 Ellsworth Rd

      OFFICE BUILDING • 3,800 SF
      717 Ellsworth Rd, Ann Arbor, MI 48108-3343
      View Details

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      7,837 SF

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      Recently renovated office building with expansion potential on 3.05 acres.
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      Premium Office Space in Ann Arbor

      Class A office building with flexible suites and convenient location.
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      Three-Story Office Building Near I-94

      37,000 SF office building with abundant windows and individual HVAC.
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    Similar Nearby for Lease

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      Ann Arbor Three-Story Office Building

      Three-story office building in Ann Arbor's Southside corridor available for rent.
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      View Details
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      Ann Arbor Office Building

      Three-story office building near Briarwood Mall and I-94.
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      Ann Arbor Office Building

      Iconic office building in Ann Arbor's Southside corridor.
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      Ann Arbor Office Park

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      View Details
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      Suburban Office Building Near US-23

      Multi-tenant office building with easy access to US-23.
      2512 Carpenter Rd, Ann Arbor, MI 48108
      View Details
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      Modern Office Park Near I-94

      Modern office park with high-end finishes and convenient access.
      3767 Ranchero Dr, 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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