Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    617 Hewitt & Ellsworth Rd Ypsilanti, MI 48197
    Back to Search
    Property profile & analytics

    617 Hewitt & Ellsworth Rd, Ypsilanti, MI 48197

    View on Map
    • Retail properties & Spaces
    • 0.77 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 617 Hewitt & Ellsworth Rd

    Lot size
    0.77 lot acres
    Property type
    Retail properties & Spaces
    Property subtype
    Office Spaces

    Description

    This exceptional 0.77-acre hard-corner lot presents a prime opportunity for lease or build-to-suit development in Ypsilanti, Michigan. Situated at the southeast corner of Hewitt and Ellsworth Roads, this property boasts a highly visible location with exceptional access to I-94 Freeway. The site is surrounded by a mix of established national and local retailers, ensuring high traffic volume and strong consumer presence. With over 142,000 people residing within a 5-mile radius, this location offers a substantial and readily accessible customer base. The General Business (GB) zoning designation provides flexibility for a wide range of commercial uses, including retail establishments, medical facilities, urgent care centers, daycare centers, and banking institutions. The 7,520 square foot buildable area allows for substantial development potential. This property is ideal for businesses seeking high visibility and convenient access to a dense population center. The strategic location and flexible zoning make this an exceptional investment opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Ypsilanti
    County
    Washtenaw
    State
    Michigan
    Longitude
    -83.644
    Latitude
    42.2301

    Comparable in this City

    • Value Estimation by Request
      0.77 Acres

      617 Hewitt Rd

      Land
      617 Hewitt Rd, Ypsilanti, MI 48197
      View Details
    • Value Estimation by Request
      27,816 SF

      4003-4039 Carpenter Rd

      Neighborhood centers
      4003-4039 Carpenter Rd, Ypsilanti, MI 48197
      View Details
    • Value Estimation by Request
      1.90 Acres

      7200 Kalitta Ct

      Land
      7200 Kalitta Ct, Ypsilanti, MI 48197
      View Details
    • Value Estimation by Request
      12,627 SF

      3090 Carpenter Rd

      Retail properties & Spaces
      3090 Carpenter Rd, Ypsilanti, MI 48197
      View Details
    • Value Estimation by Request
      25,306 SF

      3725-3785 Carpenter Rd

      Neighborhood centers
      3725-3785 Carpenter Rd, Ypsilanti, MI 48197
      View Details
    • Value Estimation by Request
      2,264 SF

      2835 Washtenaw Ave

      Restaurants
      2835 Washtenaw Ave, Ypsilanti, MI 48197
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1,207 SF

      High-Traffic Corner Redevelopment Opportunity

      Prime corner lot for redevelopment with high visibility and traffic.
      617 S Hewitt Rd, Ypsilanti, MI 48197
      View Details
    • $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
    • Contact for pricing
      2,264 SF

      Freestanding Restaurant with Drive-Thru

      2,264 SF restaurant with drive-thru on 0.66 acres.
      2835 Washtenaw Ave, Ypsilanti, MI 48197
      View Details
    • Contact for pricing

      Two Acres Ready For Development

      Two acres of open land ready for development.
      2180 Ellsworth Rd, Ypsilanti, MI 48197
      View Details

    Similar Nearby for Lease

    • $1,200 /Mo

      Ypsilanti Arts District Creative Space

      Unique studio/retail space in the heart of Ypsilanti's Arts District.
      56 N Huron St, Ypsilanti, MI 48197
      View Details
    • $20 SF/Yr
      1,900 SF

      Renovated Downtown Ypsilanti Commercial Space

      Renovated commercial space in historic downtown Ypsilanti. High ceilings.
      50 N Huron St, Ypsilanti, MI 48197
      View Details
    • $1,689 /Mo
      32,040 SF

      Office Space in Historic Downtown

      Office space with natural light, private bathroom, and kitchenette.
      124 Pearl St E, Ypsilanti, MI 48197
      View Details
    • $32 SF/Yr

      Multiple Office Units Available

      Various office spaces available for rent with utilities included.
      61 N Huron St, Ypsilanti, MI 48197
      View Details
    • $16 SF/Yr

      Medical Suite in Ypsilanti Township

      Remodeled medical suite with exam and X-ray rooms available.
      1649 S Huron St, Ypsilanti, MI 48197
      View Details
    • Contact for pricing
      2,500 SF

      Economical Office Space Available

      Office space with free cubicle furniture and ample parking.
      3914 Bestech Dr, Ypsilanti, MI 48197
      View Details
    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.
    617 Hewitt & Ellsworth Rd
    Ypsilanti, MI 48197
    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
    617 Hewitt & 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!