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1490 Washtenaw Ave

6,880 SF 100% Leased Retail Building Ypsilanti, MI 48197 £442,084 (£64/SF)

Investment Highlights

  • RETAIL HARD CORNER ON DYNAMIC WASHTENAW AVENUE
  • INCLUDES ADDITIONAL 0.236 ACRE PARKING LOT BEHIND ON WHITTIER STREET
  • STURDY BRICK CONSTRUCTION

Executive Summary

PRIME INVESTMENT OPPORTUNITY ON WASHTENAW AVENUE
6880 S/F TWO STORY BRICK BUILDING
3440 S/F - 1st FLOOR RETAIL SPACE
3440 S/F - 2nd FLOOR RESIDENTIAL APARTMENT & OFFICE SPACE
OWNER RETIRING

Property Facts

Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
6,880 SF
Building Class
C
Year Built
1966
Price
£442,084
Price Per SF
£64
Percent Leased
100%
Tenancy
Multiple
Number of Floors
2
Building FAR
1.05
Lot Size
0.15 AC
Zoning
NC - General Retail & Office & Residential Apartments
Parking
6 Spaces (0.87 Spaces per 1,000 SF Leased)
Frontage
170 ft on Mansfield St

Amenities

  • Bus Route
  • Corner Lot
  • Pylon Sign
  • Signage
  • Signalised Intersection
  • Storage Space

About 1490 Washtenaw Ave , Ypsilanti, MI 48197

TWO STORY BRICK COMMERCIAL BUILDING ON WASHTENAW AVENUE BETWEEN ANN ARBOR AND YPSILANTI 3440 S/F OF RETAIL SPACE ON ENTRY LEVEL WITH OPERATIONAL LAUNDRY & DRY CLEANING BUSINESS INCLUDED 3444 S/F OF OFFICE AND RESIDENTIAL APARTMENTS ON SECOND LEVEL. ADDITIONAL FULL HEIGHT BASEMENT SPACE PREVIOUSLY USED AS TUXEDO RENTAL SELLERS ARE RETIRING GREAT VALUE-ADD INVESTMENT OPPORTUNITY CONTACT AGENT FOR MORE INFORMATION

MAJOR TENANTS

  • Tenant
  • Industry
  • SF OCCUPIED
  • RENT/SF
  • Lease End
  • College Cleaners
  • Service type
  • -
  • -
  • -
Tenant Industry SF OCCUPIED RENT/SF Lease End
College Cleaners Service type - - -

Space Availability

  • Space
  • Size
  • Space Use
  • Position
  • Available
  • 1st Floor
  • 3,440 SF
  • Retail
  • In-Line
  • 60 Days

Property Is Located On The Hard-Corner of 1490 Washtenaw Avenue & Mansfield in Ypsilanti Michigan. • Originally 4 residential units on the 3440 s/f second level which owner converted to One, 3440 s/f residential & business office unit occupied by the owners, who also are operating the dry-cleaning business on the 3440 s/f entry level retail/commercial space. • The basement is currently unoccupied and was previously occupied by a Tuxedo rental business and has full height (10’) ceilings. • Building has 3 separate entrances and stairwells allowing for partitioning into several individual residential, or office units. Real Estate Taxes: • 1490 Washtenaw w/Building: 2019 S & W: $9,358.94 • Whittier Vacant Lot (No Address): 2019 S & W: $2396.51. • Total 2019 Real Estate Taxes for both parcels = $11,755.45. • The offering includes 2 separate parcels; One, .15-acre parcel with the retail/office/apartment building & One, .236- acre parcel behind the building which is currently being used as the parking-lot for the retail & commercial. (site metrics .386 acres or 16,814 s/f)

  • 2nd Floor
  • 3,440 SF
  • Retail
  • In-Line
  • 60 Days

Property Is Located On The Hard-Corner of 1490 Washtenaw Avenue & Mansfield in Ypsilanti Michigan. • Originally 4 residential units on the 3440 s/f second level which owner converted to One, 3440 s/f residential & business office unit occupied by the owners, who also are operating the dry-cleaning business on the 3440 s/f entry level retail/commercial space. • The basement is currently unoccupied and was previously occupied by a Tuxedo rental business and has full height (10’) ceilings. • Building has 3 separate entrances and stairwells allowing for partitioning into several individual residential, or office units. Real Estate Taxes: • 1490 Washtenaw w/Building: 2019 S & W: $9,358.94 • Whittier Vacant Lot (No Address): 2019 S & W: $2396.51. • Total 2019 Real Estate Taxes for both parcels = $11,755.45. • The offering includes 2 separate parcels; One, .15-acre parcel with the retail/office/apartment building & One, .236- acre parcel behind the building which is currently being used as the parking-lot for the retail & commercial. (site metrics .386 acres or 16,814 s/f)

Space Size Space Use Position Available
1st Floor 3,440 SF Retail In-Line 60 Days
2nd Floor 3,440 SF Retail In-Line 60 Days

1st Floor

Size
3,440 SF
Space Use
Retail
Position
In-Line
Available
60 Days

2nd Floor

Size
3,440 SF
Space Use
Retail
Position
In-Line
Available
60 Days

1st Floor

Size 3,440 SF
Space Use Retail
Position In-Line
Available 60 Days

Property Is Located On The Hard-Corner of 1490 Washtenaw Avenue & Mansfield in Ypsilanti Michigan. • Originally 4 residential units on the 3440 s/f second level which owner converted to One, 3440 s/f residential & business office unit occupied by the owners, who also are operating the dry-cleaning business on the 3440 s/f entry level retail/commercial space. • The basement is currently unoccupied and was previously occupied by a Tuxedo rental business and has full height (10’) ceilings. • Building has 3 separate entrances and stairwells allowing for partitioning into several individual residential, or office units. Real Estate Taxes: • 1490 Washtenaw w/Building: 2019 S & W: $9,358.94 • Whittier Vacant Lot (No Address): 2019 S & W: $2396.51. • Total 2019 Real Estate Taxes for both parcels = $11,755.45. • The offering includes 2 separate parcels; One, .15-acre parcel with the retail/office/apartment building & One, .236- acre parcel behind the building which is currently being used as the parking-lot for the retail & commercial. (site metrics .386 acres or 16,814 s/f)

2nd Floor

Size 3,440 SF
Space Use Retail
Position In-Line
Available 60 Days

Property Is Located On The Hard-Corner of 1490 Washtenaw Avenue & Mansfield in Ypsilanti Michigan. • Originally 4 residential units on the 3440 s/f second level which owner converted to One, 3440 s/f residential & business office unit occupied by the owners, who also are operating the dry-cleaning business on the 3440 s/f entry level retail/commercial space. • The basement is currently unoccupied and was previously occupied by a Tuxedo rental business and has full height (10’) ceilings. • Building has 3 separate entrances and stairwells allowing for partitioning into several individual residential, or office units. Real Estate Taxes: • 1490 Washtenaw w/Building: 2019 S & W: $9,358.94 • Whittier Vacant Lot (No Address): 2019 S & W: $2396.51. • Total 2019 Real Estate Taxes for both parcels = $11,755.45. • The offering includes 2 separate parcels; One, .15-acre parcel with the retail/office/apartment building & One, .236- acre parcel behind the building which is currently being used as the parking-lot for the retail & commercial. (site metrics .386 acres or 16,814 s/f)

Walk Score ®
Very Walkable (74)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

Nearby Major Retailers

Biggby Coffee
Huntington National Bank
Starbucks
KeyBank
Tim Hortons
Planet Fitness
Chase Bank

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
11-05-382-009
Land Assessment
£0
Improvements Assessment
£0
Total Assessment
£202,733
  • Listing ID: 17920473

  • Date on Market: 09/12/2019

  • Last Updated:

  • Address: 1490 Washtenaw Ave, Ypsilanti, MI 48197

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