2387 Ellsworth Rd Ypsilanti, MI 48197-4855
Property profile & analytics
2387 Ellsworth Rd, Ypsilanti, MI 48197-4855
- Drive through restaurants
- 3,789 SF
- 1.43 lot acres
Property ID
US43-0461159
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Popeyes Louisiana Kitchen / Restaurant
Property Details for 2387 Ellsworth Rd
- Lot size
- 1.43 lot acres
- Property type
- 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.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- Statistic approach
- $2,570,000
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Ypsilanti
- County
- Washtenaw
- State
- Michigan
- Longitude
- -83.6487
- Latitude
- 42.2302
- CBSA code
- 11460
- CBSA name
- ANN ARBOR, MI METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$0.00
$0.00
$0.00
$656,900
-
$0.00
$0.00
$1,313,800
