Commercial Property on Michigan
3373 E Michigan Ave Ypsilanti, MI 48198
3373 E Michigan Ave, Ypsilanti, MI, 48198
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For Sale
Contact for pricing
1.76-acre commercial property with 390+ feet of frontage.
Property Size1,700 SF
Lot Size1.76 Acres
Price / SF$176.47
Days on Market717
Property Features for 3373 E Michigan Ave
General Information
- Standard status
- Active
- Size
- 1,700 SF
- Lot size
- 1.76 Acres
- Property subtype
- Land
Building Details
- Year Built
- 1993
Listing Agency
RE/MAX Team 2000
(313) 525-1101
Listed by
Yousef Beydoun · License #6501354088
Source
Crexi
Added: Jul 31, 2024 Checked: Jul 17 at 9:36 am
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 RE/MAX Team 2000
Investment Insights
Based on property information with market context.
This commercial property encompasses 1.76 acres and features over 390 feet of frontage on Michigan Avenue. The site is fully fenced and secured, with a surface composed of both asphalt and crushed concrete/gravel. It includes three curb cuts for accessibility and is located near the interstate. A 1,700-square-foot building, currently utilized as a storage facility, is situated on the premises. This property offers development opportunities.
Key Highlights
- 1. 76 acres of prime commercial property.
- 390+ feet of frontage on Michigan Avenue.
- Three curb cuts for easy access.
Local Financial Insights For Retail
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 | $35.7k | $21.00 |
| − Vacancy | −$2.7k | −$1.58 |
| EGI | $33.0k | $19.43 |
| − OpEx | −$9.9k | −$5.83 |
| NOI | $23.1k | $13.60 |
1,700 SF · lease $21.00/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$330.2K
$289.0K – $385.3K
NOI $23,116 @ 7.0% cap · market cap 7.71%
Second Best
Apartment 5plus
$286.3K
$250.5K – $334.0K
NOI $20,039 @ 7.0% cap · market cap 6.68%
Theoretical Best
Office A
$499.5K
$437.1K – $582.8K
NOI $34,966 @ 7.0% cap · market cap 11.66%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Michigan Home Zone
(Bike/Boat/Book/etc) Store
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - 1.76-acre commercial property with 390+ feet of frontage.
Where is this mixed-use property located?
The property is located at 3373 E Michigan Ave Ypsilanti, MI.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: 1. 76 acres of prime commercial property.; 390+ feet of frontage on Michigan Avenue.; Three curb cuts for easy access.
