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South State Commons III

Off-Market

2727 South State Street, Ann Arbor, MI 48104

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  • Property Type Office - General Office
  • Property Size 40,000 SF
  • Lot Size 2.5 Acre
  • Parking Spaces Avail. 136
  • Parking Ratio 3.40/ 1,000 SF
  • Property Tenancy Multi-Tenant
  • Building Class C
  • Year Built 1988

Location

  • Walk Score ® Car-Dependent (41)
  • Transit Score ® Some Transit (40)
  • Bike Score ® Bikeable (67)
Powered by Walk Score ®
  • City Ann Arbor, MI
  • Neighborhood Germantown
  • Zip Code 48104
  • Market Detroit

Points of Interest

Ann Arbor

2.85 miles

Shell

0.18 miles

Mobil

0.46 miles

BP

0.49 miles

Citgo

0.85 miles

Circle K

1.02 miles

Sunoco

1.04 miles

Costco Gasoline

1.10 miles

Shell

1.14 miles

Speedway

1.23 miles

Meijer

1.50 miles

U-M Lot SC34

0.16 miles

State Street Park and Ride

0.21 miles

SC 43

0.92 miles

Eisenhower Center Parking

1.18 miles

Glick

1.22 miles

U-M Lot SC7 (Crisler Center)

1.23 miles

U-M Lot SC6 (Crisler Center)

1.32 miles

Lot SC 16

1.34 miles

U-M Lot SC5 (Crisler Center)

1.40 miles

U-M Lot SC20 (Athletics Campus Grey Lot)

1.47 miles

Holiday Inn & Suites

0.40 miles

Hyatt Place

0.42 miles

Sheraton Ann Arbor Hotel

0.42 miles

Courtyard Marriott

0.46 miles

Extended Stay America

0.48 miles

Fairfield Inn Marriott

0.52 miles

Red Roof Inn

0.53 miles

Comfort Inn & Suites

0.53 miles

Hampton Inn Ann Arbor, South

0.55 miles

Kensington Court Hotel

0.60 miles

Shawarma Shop

0.18 miles

Olive Garden

0.27 miles

Max and Erma's

0.28 miles

Romano's Macaroni Grill

0.30 miles

Buffalo Wild Wings

0.36 miles

Wendy's

0.37 miles

Seoul Garden

0.37 miles

Red Robin

0.39 miles

Burger King

0.46 miles

Los Amigos

0.49 miles

Preschool and Family Center

0.17 miles

Central Academy

0.41 miles

Daycroft Montessori School

0.56 miles

Clonlara School

0.60 miles

Pathways Campus

0.84 miles

Pattengill Elementary School

1.06 miles

Pioneer High School

1.28 miles

Burns Park Elementary School

1.36 miles

Saint Francis of Assisi School

1.38 miles

Lawton Elementary School

1.43 miles

Little Lamb Nursery & Kindergarten

1.44 miles

Towsley Chidren House

1.85 miles

Gretchen's House

2.11 miles

Annie's Children's Center

2.14 miles

Gretchen's House

2.22 miles

Green Apple Garden Upper Playschool

2.69 miles

The Discovery Center

2.78 miles

Kozy Heart Daycare Center

2.81 miles

Explorer Child Care Learning Center

3.01 miles

Stony Creek Preschool

4.39 miles

Contacts

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Owner

  • True Owner
  • Registered Owner

Brokers

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Documents

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Sales

  • Purchase Date 30 Jan, 2006
  • Purchase Price
  • Arm's Length True
  • Buyer Name

Mortgages

  • Current Lender
  • Loan Amount
  • Loan Origination Date
  • Loan Maturity Date

Market Trends

Average Actual Rents in Ann Arbor

Average rents use actual signed leases, aggregated for your specific search area and asset type with Yardi Market Insight. Be confident your price is competitive, with CommercialEdge.

Current Average Rent
Net Rent
$44.3/SF/YR
Recoverables Show detailsHide details
$16.7/SF/YR
CAM
$3.54/SF/YR
Insurance
$0.59/SF/YR
Taxes
$9.52/SF/YR
Utilities
$1.76/SF/YR
Management Fees
$1.3/SF/YR
Total Rent
$61/SF/YR
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Occupancy & Leasing Activity
Occupancy
83.5%
Lease Spread
-20.5%
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Asking Rents in Ann Arbor Office Market

Office rental rates are based on aggregated data of asking rates.

  • 2020 Avg. Asking Rent $26.44
  • 2020 Office Vacancy Rate 9.25%
  • 2020 Office Completions (SF)

Ann Arbor Office Sales Trends

All sale prices are based on publicly recorded, verified sales.

  • 2020 Avg. Price per SF $155.98
  • Y-o-Y Avg. PpSF Change -23.34%
  • 2020 Office Sales Volume $42.5M
  • 2020 Number of Transactions 4
View more Ann Arbor market trends

Tax

  • Base Tax $237,218
  • Current Tax $184,382
  • Market Value* $6,896,400
  • Assessed Value $6,896,400

Find more tax info, including assessment history and abatements, on CommercialEdge

*The displayed market value represents the assessed value determined by the appropriate local tax/financial authority. It is not the property’s latest sale price or a current market value based on recent area sales.

Frequently Asked Questions

What is the total square footage of South State Commons III?

South State Commons III totals 40,000 square feet.

When was this property built?

South State Commons III was built in 1988.

When was South State Commons III last sold?

South State Commons III was last sold on 30 Jan, 2006.

What is the market value for South State Commons III?

The market value* for South State Commons III in 2022 was $6,896,400.
*This represents the market value determined by the appropriate local tax/financial authority, and not the latest sale price or current market value based on recent sales.

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