513 Tyler Road, Ypsilanti, MI 48198

Building Details

Building Size 1,000 SF More

Year Built 1959 More

Listing Agency: @properties Christie's Int'l R.E. Birmingham

Listed By: Lena Hazime

Source: Case-realty

Added: Nov 3 Changed: Nov 8 Last Checked: Nov 8 at 8:07PM

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Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of @properties Christie's Int'l R.E. Birmingham

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Investment Insights

Based on property information with market context.

This 1,000-square-foot freestanding storefront was built in 1959 and has been used as a barber shop and for storage. The property includes a newer roof, a water heater approximately 6 years old, and gravel parking along the rear and side. Central air conditioning is not present.

Public water and sewer serve the site, and utilities are currently active. The property is offered as-is.

Key Highlights

• 1,000‑square‑foot freestanding storefront
• Newer roof, approximately 1 year old
• Public water and sewer; utilities currently active

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$13,598

Cap Rate

7.31%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$271,960 $272.0K

Cap Rate 7%

$194,257 $194.3K

Cap Rate 9%

$151,089 $151.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,000 SF

Gross rent

$21.0K $21.00/SF

− Vacancy

−$1.6K −$1.58/SF

EGI

$19.4K $19.43/SF

− OpEx

−$5.8K −$5.83/SF

NOI

$13.6K $13.60/SF

Area

Washtenaw County, MI

Vacancy

7.50%

Lease Rate

$21.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$271,960

Cap Rate 7%

$194,257

Cap Rate 9%

$151,089

Alternative Uses

Best Use

Retail

$194.3K

$170.0K – $226.6K (±1% cap)

NOI $13,598 @ 7.0% cap · market cap 7.31%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$293.8K

$257.1K – $342.8K (±1% cap)

NOI $20,568 @ 7.0% cap · market cap 11.06%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Storefront properties

Suggested Use

Top Pick Real Estate Agency Building Supply Big Box & Wholesale Store Dental Office Restaurant Kitchen & Bath Showroom

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

478

Businesses Nearby

9k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 100%

Sunoco Shops & Services

5,374 visits/mo 0.5 miles

Citgo Shops & Services

2,867 visits/mo 0.2 miles

CubeSmart Self Storage Shops & Services

463 visits/mo 0.0 miles

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

Average Price Trend$/SF for Storefront properties in Washtenaw County, MI

$322 Jul

$275 Aug

$212 Sep

$212 Oct

Properties on Market for Storefront properties in Washtenaw County

Jul

Aug

Sep

Oct

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

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Frequently Asked Questions

What type of property is this?

Storefront property - Public water and sewer serve the building, and utilities are active.

Where is this storefront property located?

The property is located at 513 Tyler Road Ypsilanti, MI.

What is the asking price?

The asking price for this property is $185,900.

What are key features of this property?

This property features: 1,000‑square‑foot freestanding storefront; Newer roof, approximately 1 year old; Public water and sewer; utilities currently active