9 E Cross Street, Ypsilanti, MI 48198

Building Details

Buildings 1 More

Construction brick More

Tenancy Multi More

Listing Agency: KW Domain Show Phone

Listed By: Benjamin Margolis · License #6501384651 Show Phone

Source: Charterpropertiesgr

Added: Nov 3 Changed: Nov 7 Last Checked: Nov 8 at 5:40AM

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Investment Insights

Based on property information with market context.

At 9 E Cross Street in Ypsilanti, this approximately 5,000-square-foot brick property is arranged as three separate units and includes overhead garage doors. The middle unit is vacant and available for lease. Another unit houses a brewery, now in the first year of a five-year lease, while two recording studios occupy a third unit. The building also contains three offices with potential for additional leasing.

The City of Ypsilanti has pre-approved a plan for construction that would provide parking at the rear of the property.

Key Highlights

• Approximately 5,000 square feet in a three‑unit layout
• Full‑brick construction with overhead garage doors
• Brewery lease is in its first year of a five‑year term

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$46,410

Cap Rate

4.65%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$928,200 $928.2K

Cap Rate 7%

$663,000 $663.0K

Cap Rate 9%

$515,667 $515.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,000 SF

Gross rent

$75.0K $15.00/SF

− Vacancy

−$8.7K −$1.74/SF

EGI

$66.3K $13.26/SF

− OpEx

−$19.9K −$3.98/SF

NOI

$46.4K $9.28/SF

Area

Washtenaw County, MI

Vacancy

11.60%

Lease Rate

$15.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$928,200

Cap Rate 7%

$663,000

Cap Rate 9%

$515,667

Alternative Uses

Best Use

Industrial

$663.0K

$580.1K – $773.5K (±1% cap)

NOI $46,410 @ 7.0% cap · market cap 4.65%

Second Best

Mixed Use

$596.8K

$522.2K – $696.3K (±1% cap)

NOI $41,779 @ 7.0% cap · market cap 4.18%

Theoretical Best

Office A

$1.47M

$1.29M – $1.71M (±1% cap)

NOI $102,840 @ 7.0% cap · market cap 10.29%

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

Traxside Recording Studio Recording Studio

Suggested Use

Top Pick Dental Office Real Estate Agency Daycare Center Furniture & Home Goods Skin Care Clinic HVAC Service

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

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

1,220

Businesses Nearby

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

Properties on Market for Mixed-use properties in Washtenaw County

Jul

Aug

Sep

Oct

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Three distinct units accommodate a brewery, recording studios, and office space.

Where is this mixed-use property located?

The property is located at 9 E Cross Street Ypsilanti, MI.

What is the asking price?

The asking price for this property is $999,000.

What are key features of this property?

This property features: Approximately 5,000 square feet in a three‑unit layout; Full‑brick construction with overhead garage doors; Brewery lease is in its first year of a five‑year term