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

    6400 Michigan Ave Saline, MI 48176-9510

    • Retail space
    • 6,000 SF
    • 2.40 lot acres
    OFF-MARKET
    Last Sale
    Sep 30, 2022
    $1,700,000
    Value Estimations
    $1,505,000
    Show details
    Cap Rate Potential
    5.1%
    Retail space
    Location Intelligence
    Property ID
    US43-1908952
    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

    • KBK Garden Center / Mulch Supplier / Landscaper

    Property Details for 6400 Michigan Ave

    Year built
    2001
    Lot size
    2.40 lot acres
    Property size
    6,000 SF
    Property type
    Retail space
    APN
    L -12-27-200-019
    APU
    L1227200019

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,590,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,360,000
      6.5%
      $1,255,000
      7%
      $1,165,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Saline
    County
    Washtenaw
    State
    Michigan
    Longitude
    -83.7149
    Latitude
    42.1944
    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
    $25,722
    $0.00
    $0.00
    $599,877
    -
    $0.00
    $0.00
    $1,199,754

    Comparable in this City

    • Value Estimation by Request
      10,420 SF

      6961 Michigan Ave

      RETAIL STORES (PERSONAL SERVICES) • 10,420 SF
      6961 Michigan Ave, Saline, MI 48176-8918
      View Details
    • Value Estimation by Request
      4,652 SF

      7370 Michigan Ave

      RETAIL STORES (PERSONAL SERVICES) • 4,652 SF
      7370 Michigan Ave, Saline, MI 48176-9093
      View Details
    • Value Estimation by Request
      4,310 SF

      6983 Michigan Ave

      FINANCIAL BUILDING • 4,310 SF
      6983 Michigan Ave, Saline, MI 48176-8918
      View Details
    • Value Estimation by Request
      2,269 SF

      7030 Michigan Ave

      FINANCIAL BUILDING • 2,269 SF
      7030 Michigan Ave, Saline, MI 48176-9514
      View Details
    • Value Estimation
      $620,000
      4,088 SF

      6139 Saline Ann Arbor Rd

      CONVENIENCE STORE • 4,088 SF
      6139 Saline Ann Arbor Rd, Saline, MI 48176-8805
      View Details
    • Value Estimation by Request
      3,000 SF

      6999 Michigan Ave

      CONVENIENCE STORE • 3,000 SF
      6999 Michigan Ave, Saline, MI 48176-9515
      View Details

    Similar Nearby for Sale

    • $750,000

      Commercial Building on Michigan Avenue

      Commercial building with retail space and ample parking for sale.
      731-733 W Michigan Ave, Saline, MI 48176
      View Details
    • $900,000
      6,600 SF

      Downtown Saline Commercial Building

      6,600 SF commercial building in downtown Saline.
      201 S Ann Arbor St, Saline, MI 48176
      View Details
    • $750,000

      Commercial Building on Michigan Avenue

      6,635 SF commercial building suitable for retail or restaurant.
      731 W Michigan Ave, Saline, MI 48176
      View Details
    • $1,000,500
      4,594 SF

      Downtown Saline Mixed-Use Property

      Updated mixed-use property in downtown Saline featuring retail and residential.
      100 S Ann Arbor St, Saline, MI 48176
      View Details
    • $290,000
      1,000 SF

      Turn-Key Salon Near Michigan Ave

      Salon in prime location near downtown Saline. No lease.
      123 Keveling Dr, Saline, MI 48176
      View Details
    • $225,000

      Remodeled Office/Retail Condo in Saline

      Updated condo in Saline Commerce Center, suitable for office/retail.
      147 Keveling Dr, Saline, MI 48176
      View Details

    Similar Nearby for Lease

    • $2,400 /Mo
      1,560 SF

      Updated Retail or Office Building

      Freestanding retail or office building with updated interior and parking.
      405 N Ann Arbor St, Saline, MI 48176
      View Details
    • $13 SF/Yr
      3,000 SF

      Saline Retail/Office Space Available

      High-visibility location suitable for office, business services, and retail.
      901 W Michigan Ave, Saline, MI 48176
      View Details
    • $1,500,000
      5,622 SF

      Saline Retail Space Available

      Move-in ready retail space in Saline's Central Business District.
      450 E Michigan Ave, Saline, MI 48176
      View Details
    • $21 SF/Yr
      40,698 SF

      Country Creek Village Retail Space

      Saline, MI: Prime Retail Opportunity
      7025 Michigan Ave, Saline, MI 48176
      View Details
    • $15 SF/Yr
      17,590 SF

      Saline Mixed-Use Office Building

      Downtown Saline Office Space: 1,019-2,059 SF
      203 Michigan Ave, Saline, MI 48176
      View Details
    • $20 SF/Yr
      4,200 SF

      Saline Retail Center - 7 Spaces Available

      High-traffic retail space, flexible layouts.
      6913 State Rd, Saline, MI 48176
      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.
    6400 Michigan Ave
    Saline, MI 48176-9510
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.