Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Two Acres Ready For Development Title is generated by Realmo AI

    2180 Ellsworth Rd, Ypsilanti, MI 48197

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Two acres of open land ready for development.

    Type:Land
    Lot size:
    2.00 Acres
    Added:
    Oct 18, 2023
    Days on Market:
    955
    Last Refresh:
    May 12 at 8:27 pm

    Property Features for 2180 Ellsworth Rd

    General Information

    Standard status
    Active
    Lot size
    2.00 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Larry Gotcher

    Listing agent Larry Gotcher License #MI MI

    Listing office Resource Realty Group

    Listing date Oct 18, 2023

    Source Crexi

    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 Resource Realty Group

    HighLights

    • Two acres of beautiful, open land ready for development.
    • Located right off the main corridor of Ellsworth and I‑94.
    • Flexible zoning allows for a variety of uses.
    • Perfect for multi‑family development.
    • Water and sewer located on the street.

    Overview

    This property features two acres of open land suitable for development. The site is located off the main corridor of Ellsworth, with immediate access to I-94. The flexible zoning allows for a variety of uses, making it suitable for a multi-family development. Water and sewer utilities are located on the street.
    Property Profile Location Intelligence

    Current Use by Public Records

    Land

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Ypsilanti
    County
    Washtenaw
    State
    Michigan
    Longitude
    -83.6445586
    Latitude
    42.230834

    Nearby Similar for Sale

    • $425,000
      671 SF

      Turnkey Cinnabon & Auntie Anne's Franchise

      Profitable, dual-brand franchise inside Meijer with strong sales and foot traffic.
      3825 Carpenter Road, Ypsilanti, MI 48197
      View Details
    • $625,000
      6,108 SF

      Ypsilanti Multifamily Farmhouse with Outbuildings

      Unique property with farmhouse, apartments, barns, and sheds on 3+ acres.
      7130 Platt Road, Ypsilanti, MI 48197
      View Details
    • $450,000
      3,076 SF

      Ypsilanti Multifamily Investment Opportunity

      Four-unit multifamily property near Eastern Michigan University.
      115 College Place, Ypsilanti, MI 48197
      View Details
    • $425,000
      671 SF

      Ypsilanti Retail Opportunity For Sale

      Retail property in Ypsilanti, MI, ideal for business opportunity.
      3825 Carpenter Road, Ypsilanti, MI 48197
      View Details
    • $595,000
      6,102 SF

      Former Restaurant and Event Hall

      6,102 SF building on 0.46 acres in Opportunity Zone.
      1405 Ecorse Rd, YorkCharterTownship_Washtenaw, MI 48198
      View Details
    • $850,000
      5,656 SF

      Renovated Industrial Flex Space

      Fully renovated flex space with light industrial zoning in Ypsilanti.
      59 Ecorse Road, Ypsilanti, MI 48198
      View Details
    • $1,100,000
      3,208 SF

      Prime Commercial Land Opportunity

      4 acres of B3 zoned land with high traffic.
      2324 W Michigan Avenue, Ypsilanti, MI 48197
      View Details
    • $300,000

      Ypsilanti Multifamily Investment Opportunity

      Three-unit property near Eastern Michigan University, ideal for investors.
      95 Oakwood Street, Ypsilanti, MI 48197
      View Details
    • $499,000

      Ypsilanti Vacant Land Opportunity

      5.67-acre residential land parcel in Ypsilanti, near EMU.
      525 W Clark Road, Ypsilanti, MI 48198
      View Details
    • $284,900
      2,468 SF

      Ypsilanti Income Property Opportunity

      Three-unit property near Eastern Michigan University with income potential.
      413 S Huron Street S, Ypsilanti, MI 48197
      View Details
    • $440,000

      Ypsilanti Multi-Family Investment Opportunity

      Multi-family property near downtown and EMU campus.
      502 Pearl Street, Ypsilanti, MI 48197
      View Details
    • $795,000

      Acreage Near Ann Arbor

      30 acres near Ann Arbor and Ypsilanti with existing structures.
      9625 Geddes Road, Ypsilanti, MI 48198
      View Details

    FAQs

    What type of property is this?
    Land - Two acres of open land ready for development.
    Where is this land located?
    The property is located at 2180 Ellsworth Rd Ypsilanti, MI.
    What is the asking price?
    The asking price for this property is $399,995.
    What are key features of this property?
    This property features: Two acres of beautiful, open land ready for development.; Located right off the main corridor of Ellsworth and I‑94.; Flexible zoning allows for a variety of uses.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Larry Gotcher
    Real Estate License ID: MI MI
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2180 Ellsworth Rd, Ypsilanti, MI 48197
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!