2041 Parkwood Ave Ypsilanti, MI 48198
- Land
- 4.90 lot acres
Current Use by Public Records
- Land
Property Details for 2041 Parkwood Ave
- Lot size
- 4.90 lot acres
- Property type
- Land
- Property subtype
- Industrial properties
Description
This exceptional 4.9-acre parcel, located at 2041 Parkwood Ave in Ypsilanti, Michigan (48198), presents a unique opportunity for self-storage development. The property, zoned IT (Innovative & Technology), boasts a previously submitted Special Land Use Application for self-storage, predating zoning changes that now restrict such development. This creates a significant barrier to entry for competitors. Situated in Washtenaw County, the site benefits from a strong population base, with over 84,700 residents within a four-mile radius. Market analysis indicates a substantial demand for approximately 227,000 square feet of self-storage space within this area, with average rental rates reaching $22.90 per square foot. The site's potential allows for the construction of up to 130,000 square feet of self-storage units, incorporating a mix of climate-controlled indoor and drive-up units. The property's APN is K-11-11-100-008, and the land value is $173,469 per acre. The submitted Special Land Use Application is confirmed on file with the Ypsilanti Township. This is a rare chance to capitalize on a high-demand market with a significant competitive advantage.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Ypsilanti
- County
- Washtenaw
- State
- Michigan
- Longitude
- -83.5723
- Latitude
- 42.2395
