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    3090 Carpenter Rd Ypsilanti, MI 48197

    Sponsored
    For Lease
    $15 SF/Yr ($15,783 /Mo)

    Large Single-Tenant Retail Building in Ypsilanti

    Lot size:
    12,627 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    400
    This exceptional 12,627-square-foot retail space is available for lease at 3090 Carpenter Road in Ypsilanti, Michigan. Located in Washtenaw County, this single-tenant property presents a significant opportunity for businesses seeking a substantial footprint in a vibrant community. The entire building is currently vacant, offering complete flexibility for a new tenant to customize the space to their specific needs. The property's size allows for a wide range of retail concepts, from large-format stores to multi-functional spaces. Its strategic location in Ypsilanti provides excellent access to a diverse customer base and strong regional connectivity. The property is classified as commercial retail and offers a blank canvas for a business looking to establish a prominent presence. With its ample square footage and prime location, this property is ideal for businesses seeking high visibility and significant space to operate. The property is situated at 42.2448877 latitude and -83.682128 longitude, providing easy access for customers and employees. The zip code is 48197. This is a rare opportunity to secure a substantial retail space in a desirable location. Interested parties are encouraged to inquire further to explore the possibilities this property offers. The property is ready for immediate occupancy.

    Property Features for 3090 Carpenter Rd

    General Information

    Property type
    Retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    12,627 SF
    Total Rate
    15783.75

    Unit(s) available at that property

    Space
    Available Space
    Size
    12,627 SF
    Rate per SF
    $15

    HighLights

    • 12,627 SF former CVS Pharmacy space.
    • Strong co‑tenancy with Kroger, TJ Maxx, PetSmart, and The Tile Shop.
    • Excellent location near Home Depot, Lowe's, Target, and Aldi.
    • High‑visibility endcap location with ample parking.
    • High traffic counts: 29,000 ADT on Carpenter Rd and 21,000 ADT on Packard St.
    Property Profile Location Intelligence

    Current Use by Public Records

    CVS Pharmacy Pharmacy UPS Access Point ... Shipping And Mailing Service Coinhub Bitcoin ATM ... Atm Citizens ATM Atm LibertyX Bitcoin ATM Atm

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Ypsilanti
    County
    Washtenaw
    State
    Michigan
    Longitude
    -83.682128
    Latitude
    42.2448877

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    FAQs

    What type of property is this?
    Retail property - Large Single-Tenant Retail Building in Ypsilanti
    Where is this retail property located?
    The property is located at 3090 Carpenter Rd Ypsilanti, MI.
    What is the lease rate?
    The lease rate is $15 SF/Yr.
    What are key features of this property?
    This property features: 12,627 SF former CVS Pharmacy space.; Strong co-tenancy with Kroger, TJ Maxx, PetSmart, and The Tile Shop.; Excellent location near Home Depot, Lowe's, Target, and Aldi.
    Request Owner's contact information
    3090 Carpenter Rd Ypsilanti, MI 48197
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    Ypsilanti, MI 48197
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    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.

    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
    3090 Carpenter Rd Ypsilanti, MI 48197
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