2502 Michigan Ave Ypsilanti, MI 48198-6057
- Warehouses
- 7,465 SF
- 1.07 lot acres
Current Use by Public Records
- Project 11:11 / Event Planner / Dj Service
Property Details for 2502 Michigan Ave
- Year built
- 1967
- Lot size
- 1.07 lot acres
- Property size
- 7,465 SF
- Property type
- Warehouses
- Property subtype
- Self storage facilities
- APN
- K -11-01-300-007
- APU
- K1101300007
Description
This exceptional 7,465 square foot industrial property in Ypsilanti, Michigan, sits on a 1.07-acre lot and is offered at $1,000,000. The building has undergone a complete renovation, making it move-in ready for a variety of businesses. Features include ample office space, a dedicated showroom area, and substantial storage within an attached warehouse. Access to the warehouse is provided by a generously sized 18' wide by 14' high overhead door, perfect for loading and unloading larger equipment or materials. Significant improvements completed in 2023 include the installation of five brand new furnaces, ensuring efficient and reliable heating. A cutting-edge security system, encompassing both interior and exterior surveillance, provides enhanced peace of mind. The main space boasts durable, thick concrete flooring. Further upgrades include custom lighting, a completely updated electrical system, a freshly recoated driveway, new drywall and paint throughout, modernized bathrooms, and professionally landscaped grounds. This property represents a rare opportunity to acquire a fully renovated, high-quality industrial space in a desirable location. The combination of modern amenities and functional design makes this an ideal space for a variety of businesses seeking a turnkey solution.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $315,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $290,000
- 6.5%
- $300,000
- 7%
- $290,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $285,000
- Geo Method
- $280,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $290,000
- Retail
- $240,000
- Mixed-Use
- $260,000
- Hospitality
- $285,000
- Educational
- $250,000
- Residential Income
- $240,000
- Energy
- $295,000
- Income-Based Land
- $235,000
- Food Service
- $230,000
Location Insight
- Map
- Local Demand
- City
- Ypsilanti
- County
- Washtenaw
- State
- Michigan
- Longitude
- -83.5609
- Latitude
- 42.2509
- CBSA code
- 11460
- CBSA name
- ANN ARBOR, MI METROPOLITAN STATISTICAL AREA
