Property profile

531 W Main St Milan, MI 48160

FOR LEASE
Commercial real estate
Property ID
US43-1843548
5.99 ac lot
Entity Owned 11-yr Hold Free & Clear
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531 W Main St, Milan, MI 48160 For Lease
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531 W Main St, Milan, MI 48160
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Property summary

AI-generated overview

Milan Plaza, located at 531 W Main St, Milan, MI 48160, presents a prime retail opportunity within a well-established power center. This 61,357 square foot property, built in 1960, offers a versatile space ideal for a variety of businesses. Currently, there is 1,370 square feet of vacant space available for lease, perfect for expansion or a new venture. The property's location in Washtenaw County ensures high visibility and accessibility for customers. The existing tenant mix within the power center creates a synergistic environment, attracting a substantial customer base. This is a chance to secure a space in a thriving retail location with a long history in the community. The property benefits from its established presence and convenient access to major roadways, ensuring strong foot traffic and visibility. The available 1,370 square feet provides ample room for customization to suit specific business needs. This is an exceptional opportunity to establish or expand a retail presence in a desirable Michigan market. The property's size and location make it an attractive option for businesses seeking a strong foothold in a busy commercial area. Interested parties are encouraged to inquire about lease terms and availability. The property is ready for immediate occupancy.

Property profile

Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Lot 5.99 ac (260,924 SF)
Zoning code GB
APN 19-19-34-405-003
UPID US43-1843548

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Gas Station
  • Big Box & Wholesale Store
  • (Bike/Boat/Book/etc) Store Florist
  • Bank Credit Union
  • Cinema (Bike/Boat/Book/etc) Store

Location

531 W Main St Milan, MI 48160
Milan metro Census 421100 ANN ARBOR, MI METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
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Comparable Approach Comparable
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Blend (final) Blend
by Request

Owner & transaction history

since 2014
6 recorded transactions
2014
Price N/A
2005
Price N/A
2003
Price N/A
2003
Price N/A
2001
Price N/A
2000
Price N/A

Zoning & alternative use

GB · Milan, MI
Zoning description

The GB, General Business District is intended to provide areas for more diversified retail and service uses, a City-wide, or regional market area, and/or arterial exposure.

General category COMMERCIAL

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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