Zoned B3 Development
2324 W Michigan Avenue Ypsilanti, MI 48197
For Sale
$995,000
COMMERCIAL - Ypsilanti, MI
Property Size3,208 SF
Lot Size4.04 Acres
Price / SF$310.16
Days on Market340
Property Features for 2324 W Michigan Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
1
Rooms
Bathroom 1
Standard status
Active
APN
K-11-18-100-006
Size
3,208 SF
Lot size
4.04 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
Yp#18-4-A: Com At N 1/4 Cor Frac Sec 18, T3s-R7e, Th S 88-32-30
Tax Annual Amount
6078
Utilities
Utilities
Electricity Available
Heating system
Forced Air
Building Details
Year built
1860
Floors in Building
1
Number of units
1
Building materials
Vinyl Siding
Listing Agency:
Resource Realty Group
(734) 732-3789
Listed By:
Larry Gotcher · License #6502431234
(734) 732-3789
Added: Aug 25, 2025
Changed: Jun 10
Last Checked: Jul 30 at 6:06AM
MLS# 25043240
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 4.04-acre parcel is improved with a residence and several outbuildings. The property is currently being used as a residence, and it has also been used as a rental in the past. Zoning is B3, providing flexibility for prospective redevelopment based on the buyer’s intended use.
The site is located at the intersection of I-94 and Michigan Ave, with access described as easy on/easy off to the interstate. The property is next door to Bank of America and across the street from Wendy’s/Tim Hortons, placing it within a high-visibility, high-traffic commercial setting.
For buyers or operators evaluating redevelopment, the combination of B3 zoning, interstate access, and nearby national brands makes the parcel worth consideration. The existing improvements may also support short-term interim use while planning for a future project, with the end goal dependent on the buyer’s development plan and applicable approvals.
The site is located at the intersection of I-94 and Michigan Ave, with access described as easy on/easy off to the interstate. The property is next door to Bank of America and across the street from Wendy’s/Tim Hortons, placing it within a high-visibility, high-traffic commercial setting.
For buyers or operators evaluating redevelopment, the combination of B3 zoning, interstate access, and nearby national brands makes the parcel worth consideration. The existing improvements may also support short-term interim use while planning for a future project, with the end goal dependent on the buyer’s development plan and applicable approvals.
Key Highlights
- Prime location directly off I‑94 and Michigan Ave with high traffic volume.
- Zoned B3, offering significant commercial potential.
- 4‑acre property providing ample space for development.
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $72.4k | $22.56 |
| − Vacancy | −$3.6k | −$1.13 |
| EGI | $68.8k | $21.43 |
| − OpEx | −$30.9k | −$9.64 |
| NOI | $37.8k | $11.79 |
3,208 SF · lease $22.56/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$540.2K
$472.7K – $630.3K
NOI $37,815 @ 7.0% cap · market cap 3.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$942.6K
$824.8K – $1.10M
NOI $65,982 @ 7.0% cap · market cap 6.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Single family property - A 4-acre site with existing residence and outbuildings, positioned for redevelopment along a major interstate corridor.
Where is this single family property located?
The property is located at 2324 W Michigan Avenue Ypsilanti, MI.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Prime location directly off I‑94 and Michigan Ave with high traffic volume.; Zoned B3, offering significant commercial potential.; 4‑acre property providing ample space for development.
