Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    753 Grove Rd Ypsilanti, MI 48198

    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Modern free-standing retail space, vacant, high-traffic location.

    Property size:
    14,564 SF

    Property Features for 753 Grove Rd

    General Information

    Property type
    Individual retail properties
    Square Feet
    14,564 SF
    Lot Size
    64,904 SF

    Building Details

    Year Built
    2006

    We can help!

    Listing Contact
    Deno Bistolarides
    Deno Bistolarides

    Listing Agent: Deno Bistolarides

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    This 14,564-square-foot free-standing building, constructed in 2006, presents a unique investment opportunity in Ypsilanti, Michigan. Located at 753 Grove Rd, 48198, this vacant property offers significant potential for retail or commercial use. The building boasts contemporary appeal and is situated on a 1.49-acre lot with ample parking (57 spaces). Its zoning designation is GC. The property benefits from a prime location within a high-visibility, high-traffic area, attracting significant consumer traffic. The surrounding area demonstrates strong demographics, with a total population exceeding 123,128 within a 5-mile radius and an average household income exceeding $65,175 within a 1-mile radius. This net lease property is ideal for investors seeking a retail or free-standing building in a thriving Michigan community. The building's previous use was as a pharmacy/drug store, offering adaptable space for a variety of businesses. The property is currently vacant, allowing for immediate occupancy and customization to suit a new tenant's needs. This presents a rare opportunity to acquire a well-located, sizable retail space in a desirable market.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Big Box & Wholesale Store Nail Salon Electrical Service Electronics & Wireless Store Daycare Center Computer & Electronic Repair

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

    Location Insight

    • Map
    • Local Demand
    City
    Ypsilanti
    County
    Washtenaw
    State
    Michigan
    Longitude
    -83.597970717482
    Latitude
    42.230010775349

    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 Rd, 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 Rd, Ypsilanti, MI 48197
      View Details
    • New
      $2,900,000
      25,800 SF

      Ypsilanti Commercial Real Estate For Sale

      25,800 SF commercial property on 1.5 acres in Ypsilanti.
      265 S Harris Rd, Ypsilanti, MI 48198
      View Details
    • New
      $300,000
      0.14 Acres

      Ypsilanti Duplex Near EMU

      Fully tenanted duplex near Eastern Michigan University.
      611 Emmet St, Ypsilanti, MI 48197
      View Details
    • New
      $349,900
      Pending

      Updated Duplex Near EMU Campus

      Spacious duplex near EMU with modern updates and income potential.
      701 Washtenaw Ave, Ypsilanti, MI 48197
      View Details
    • $284,900
      2,468 SF

      Ypsilanti Triplex Investment Opportunity

      Three-unit property near Eastern Michigan University with income potential.
      413 S Huron St S, Ypsilanti, MI 48197
      View Details
    • $850,000
      5,656 SF

      Renovated Industrial Flex Space

      Fully renovated flex space with light industrial zoning in Ypsilanti.
      59 Ecorse Rd, Ypsilanti, MI 48198
      View Details
    • $360,000
      0.06 Acres

      Ypsilanti Multifamily Investment Opportunity

      Investment property near EMU with potential for a third unit.
      308 Ballard St, Ypsilanti, MI 48197
      View Details
    • New
      $1,050,000
      0.25 Acres

      Ypsilanti Multifamily Investment Opportunity

      Two adjacent properties totaling ten rental units in historic district.
      100 S Washington St, Ypsilanti, MI 48197
      View Details
    • $425,000
      3,400 SF

      Multi-Family Property with Rental Appeal

      Well-maintained multi-family property with spacious layouts and strong rental appeal.
      430 N Adams St N, Ypsilanti, MI 48197
      View Details
    • $285,000
      Pending

      Income-Producing Duplex Near EMU

      Duplex with income potential near EMU, Downtown Ypsi, and Depot Town.
      514 Washtenaw Ave, Ypsilanti, MI 48197
      View Details
    • $375,000
      3,400 SF

      Downtown Ypsilanti Retail and Residential

      Retail space with upstairs two-bedroom unit in downtown Ypsilanti.
      108 W Michigan Ave, Ypsilanti, MI 48197
      View Details

    FAQs

    What type of property is this?
    Individual retail property - Modern free-standing retail space, vacant, high-traffic location.
    Where is this individual retail property located?
    The property is located at 753 Grove Rd Ypsilanti, MI.
    What are key features of this property?
    This property features: 14,564 SF modern free-standing building.; Over 123,000 people live within a 5-mile radius.; Built in 2006 with contemporary design.
    Request Owner's contact information
    753 Grove Rd Ypsilanti, MI 48198
    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.
    753 Grove Rd
    Ypsilanti, MI 48198
    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
    753 Grove Rd Ypsilanti, MI 48198
    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

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Deno Bistolarides
    Deno Bistolarides
    Real Estate License ID: 6502378067
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!