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Property profile & analytics
FOR SALE
Office buildings
640 Avis Dr, Ann Arbor, MI 48108
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US43-0457541
For Sale
1 / 16
$2,100,000
640 Avis Dr, Ann Arbor, MI 48108
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1995
Total area
21,770 SF
Lot
3.22 ac (140,263 SF)
APN
L -12-20-101-001
UPID
US43-0457541
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
TLC Eyecare Eye Care Center
-
ON Semiconductor Corporate Office
-
Texeira Carpet Co. Big Box & Wholesale Store
-
Thomson US Inc (Bike/Boat/Book/etc) Store Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.86M
Blend (final)
Blend
$2.86M
Owner & transaction history
Avis Realty Group LLC · 7 yrs held
Avis Realty Group LLC
since 2019
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$4.3M
+31.5%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Ann Arbor submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Ann Arbor submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$3,280,000
Current use
COMMERCIAL (GENERAL)
$4,310,000
Change: +31% · Conversion: Easy
Blend value · Realmo final
$2.86M
Range $2.57M – $3.15M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$131 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$82,097
Tax year 2023
Assessed value
$1,617,127
Assessed 2024
Previous assessed
$1,585,500
+2.0% YoY
Effective rate
5.08%
On assessed value
Total market value
$3,234,254
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
For Sale
Year built
1995
Heating
OTHER
Cooling
AC.PACKAGE
Total area
21,770 SF
Lot
3.22 ac (140,263 SF)
APN
L -12-20-101-001
UPID
US43-0457541
Jurisdiction
WASHTENAW
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$3.3M
COMMERCIAL (GENERAL)
Est. value
$4.3M
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1995
Heating
OTHER
Cooling
Yes
Lot
3.22 ac
Current owner
From public records · entity-resolved
Avis Realty Group LLC
Entity
Mailing address
PO BOX 839, NORTHVILLE, MI 48167-0839
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 14, 2019
—
Avis Realty Group LLC
Oxford Realty Investors LLC
Warranty Deed
$2,000,000 · Aetna Health INC
Feb 20, 2002
—
Oxford Realty Investors LLC
Carlyle/fr Investors LLC
Grant Deed
$1,950,000 · Comerica Bank
Nov 12, 1998
—
Caryle/fr Investors LLC INC
First Industrial LP
Grant Deed
$240,000,000 · Jackson National Life Ins Co
May 22, 1998
$2,279,500
Industrial LP First
Avis Centre One LLC
Grant Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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