4-Tenant Investment w/ Vertical Dev Zoning 111 S Main St

Faris Lee Investments and Colliers International are pleased to present the opportunity to acquire the fee simple interest in the mixed-use property located at 111 S Main St., in the heart of vibrant downtown Ann Arbor, MI. Positioned between bustling downtown streets and the prestigious University of Michigan campus, this property offers investors a rare opportunity to purchase a generational asset due to highly coveted D-1 Zoning, which allows for vertical growth up to 20 stories.
Located within walking distance of the University of Michigan, the #1 public university in the nation, this property enjoys high foot traffic and significant visibility. The subject property is currently 100% occupied with a well-curated mix of four tenants, ensuring minimal landlord responsibilities and stable income. The anchor tenant is Misty PC, a cannabis retailer and the property’s exclusive ‘Cannabis provisioning center’ permit gives the property long-term security for tenanting a cannabis user.
The high demand for this property is driven by its prime location and explosive growth of downtown Ann Arbor. The area boasts a population of 158,825 and 97,534 employees within a 5-mile radius. Since 2022, there have been over 735 class A student housing units developed within 1-mile of the subject property. The subject property’s D-1 Zoning combined with the demand for high-rise developments to satisfy the housing needs provides long-term value to an investor.
The University of Michigan’s presence contributes to a vibrant, stable economy, ensuring sustained demand for quality commercial properties. This is a rare opportunity to acquire a high-value property in downtown Ann Arbor, characterized by its prime location and long-term value.