2387 Ellsworth RdYpsilanti, MI 48197

Property Details for 2387 Ellsworth Rd

Lot size

1.43 AC

Property size (Sq ft)

3,789 SF

Property type

Retail properties

Property subtype

Drive through restaurants

APN

K -11-18-100-010

APU

K1118100010

Description

This exceptional investment opportunity presents a 3,789 square foot Popeyes restaurant situated on a 1.43-acre lot in Ypsilanti, Michigan. Located within the Ann Arbor MSA, this highly visible property benefits from its position on Ellsworth Road, just off Interstate 94 (107,000+ vehicles per day), and proximity to major retailers including Target, Meijer, Lowe's, Home Depot, and more. The property is part of the Roundtree Place Shopping Center, which has plans for future development including a self-storage facility. The current tenant, the largest Popeyes franchisee in the system, operates under a brand new 20-year triple-net (NNN) lease, eliminating landlord responsibilities. The lease includes attractive 10% rent bumps every five years, and four 5-year renewal options, potentially extending the lease term to 40 years. Built in 2015, this 100% occupied property boasts a strong NOI of $156,000 and a 5.85% cap rate. The franchisee, part of the Dhanani Group, is a highly successful operator with a significant portfolio and ambitious expansion plans, further solidifying the investment's stability and potential for long-term growth. The property is scheduled for a complete renovation to a new Popeyes prototype in 2025. The location is less than 10 minutes from Eastern Michigan University and 15 minutes from the University of Michigan, providing a substantial customer base. This is a truly exceptional opportunity for a hands-off, high-return investment with significant long-term potential. The asking price is $2,665,500.

• CAP approach

  CAP return

  Valuation

  6%

  $953,488

  6.5%

  $880,142

  7%

  $817,275

• Comparable approach

  Method

  Valuation

  Relative Method

  $893,146

  Geo Method

  $893,146

• Alternative Use

  Use

  Valuation

  Residential

  $742,433

  Hospitality

  $680,065

  Educational

  $565,806

  Medical

  $585,265

  Retail

  $880,142

Location Insight

City

Ypsilanti

County

Washtenaw

State

Michigan

Latitude

42.2302

Longitude

-83.6487

CBSA code

11460

CBSA name

ANN ARBOR, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at support@realmo.com and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at support@realmo.com.