Renovated Flex Space with Six Bay
For Sale
$850,000
59 Ecorse Road, Ypsilanti, MI 48198
COMMERCIAL - Ypsilanti, MI
Property Size5,656 SF
Lot Size0.36 Acres
Price / SF$150.28
Days on Market495
Property Features for 59 Ecorse Road
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Parking
16
Elementary school district
Ypsilanti
Middle school district
Ypsilanti
High school district
Ypsilanti
Directions
West side of street, one block north of Michigan Avenue on Ecorse.
Subdivision
Ann Arbor/Washtenaw - A
Standard status
Active
APN
11-11-10-268-007
Size
5,656 SF
Lot size
0.36 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
*OLD SID - 11 11-020-113-00 YP CITY1-E94B LAND COM ON W LINE EMERICK 172' N OF E LINE ECORSE RD, TH N 114' TH SWLY ...
Tax Annual Amount
17385
Legal Description
*OLD SID - 11 11-020-113-00 YP CITY1-E94B LAND COM ON W LINE EMERICK 172' N OF E LINE ECORSE RD, TH N 114' TH SWLY ...
Utilities
Utilities
Natural Gas Available
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1955
Number of units
1
Building materials
Block
Listing Agency:
C. Hedger Breed
(734) 216-4666
Listed By:
C. Breed · License #6504193788
(734) 216-4666
Added: Apr 9, 2025
Changed: Aug 4
Last Checked: Aug 16 at 4:06PM
MLS# 25014290
Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 5,656-square-foot flex property occupies 0.36 acres and was built in 1955. The block building has undergone extensive renovation since 2021, including epoxy-coated floors, updated high-efficiency lighting, interior and exterior painting, and tuck-pointed masonry. Forced-air heating and central air are installed, with natural gas available.
The property includes six garage-style bay doors distributed across both sides of the building. Roofing improvements include a fully insulated torch-down modified bituthene system, with 55% of the metal deck replaced. The site is positioned between US-23 and I-275 and offers direct access to I-94. Light industrial zoning supports the property’s flexible commercial configuration.
The property includes six garage-style bay doors distributed across both sides of the building. Roofing improvements include a fully insulated torch-down modified bituthene system, with 55% of the metal deck replaced. The site is positioned between US-23 and I-275 and offers direct access to I-94. Light industrial zoning supports the property’s flexible commercial configuration.
Key Highlights
- 5,656 SF flex property on a 0.36‑acre site
- Six garage‑style bay doors serving both sides of the building
- Renovated since 2021 with epoxy floors and updated high‑efficiency lighting
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$63,749
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.50%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,274,980
$1.3M
Cap Rate 7%
$910,700
$910.7K
Cap Rate 9%
$708,322
$708.3K
Market Conditions
NOI Build-Up for 5,656 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$84.8K $15.00/SF
− Vacancy
−$9.8K −$1.74/SF
EGI
$75.0K $13.26/SF
− OpEx
−$11.2K −$1.99/SF
NOI
$63.7K $11.27/SF
Area
Washtenaw County, MI
Vacancy
11.60%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,274,980
Cap Rate 7%
$910,700
Cap Rate 9%
$708,322
Alternative Uses
Best Use
Flex RnD
$1.23M
$1.07M – $1.43M
NOI $85,798 @ 7.0% cap · market cap 10.09%
Second Best
Warehouse
$910.7K
$796.9K – $1.06M
NOI $63,749 @ 7.0% cap · market cap 7.50%
Theoretical Best
Office A
$1.66M
$1.45M – $1.94M
NOI $116,333 @ 7.0% cap · market cap 13.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
584
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48198, MI
40,067
Population
17,379
Households
2.3
Avg Household Size
36
Median Age
35%
College-Educated
92%
High-School Grad
33.4 sq mi
ZIP Area
1,200
Density / Sq Mi
$63,678
Median Household Income
$36,671
Median Earnings
$1,197
Median Rent
$178,300
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- KINGS CATERING SERVICES — 52 Ecorse Rd, Ypsilanti, MI 48198
- Frenchie's — 54 E Cross St, Ypsilanti, MI 48198
Frequently Asked Questions
What type of property is this?
Flex space - Renovated block building offers light industrial zoning, epoxy floors, and central air.
Where is this flex space located?
The property is located at 59 Ecorse Road Ypsilanti, MI.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 5,656 SF flex property on a 0.36‑acre site; Six garage‑style bay doors serving both sides of the building; Renovated since 2021 with epoxy floors and updated high‑efficiency lighting
