EM Univ. Area Professional Office

Office for Sale
Property Subtypes Office Building
Building Size (RSF): 7,009 SF
Gross Building Area: 7,009 SF
Gross Land Area: 12,895 SF
Sale Price: $475,000
Unit Price: $67.77 PSF
Ceiling: 9 ft.
Class of Space Class B
Sale Terms Owner Financing
Last Updated: 8/25/2014

Property Overview

This property is approximately 7,009 square feet built in 1953, frame construction with some brick siding and forced air heat. It is located on the corner of Hamilton and Pearl Streets providing the opportunity for multiple entrances and multiple businesses. There are currently three entrances and more could be added to further separate the space sizes. Current zoning is B-3. This commercial zoning will allow retail, office, and since the properties next door have some residential rentals, this could most likely be adapted as well. The entrance on Hamilton faces the EMU Business School which encompasses an entire block. Please see our picture plan for more photos at http://www.smartfloorplan.com/g/n/v272244.html

Financials

Finance Data Year 2014
Real Estate Taxes - Annual($) $7,545 (Annual)
Assessed Value - Total($) $88,798 (Annual)

Additional Details

Nearest MSA Ann Arbor
County Washtenaw
Submarket Washtenaw E of 23
Tax ID Number/APN 11-11-40-480-001
Property Use Type Business
Zoning B-3 COMMERCIAL
Percent Occupied 0%
Market Type Small
Side of Street Northwest
Road Type Paved
Property Visibility Excellent
Highway Access I-94
Airports DTW
Site Description Located directly across the street from the EMU Business School. Near Restaurant and Entertainment venues.
Area Description The city of Ypsilanti has a population of approximately 40,000 people and is the home of Eastern Michigan University founded in 1849. The university is predominantly a teaching university and a business university with a total of 20,000 students. The employment base has gradually transformed over the past 30 years from an automotive focus to a more diverse base. Outside of the University, the largest employer that is adjacent to the city limit is the St. Joseph Mercy Hospital Campus. The Eastern Michigan University campus is predominantly on the northwest side of the city and the St. Joseph hospital is adjacent to the campus. Eastern Michigan in 1990 built its new Gary Owen Business School Campus in downtown Ypsilanti which is part of this employment transformation. This property is directly across the street from this business campus in the downtown. The downtown itself is has many older buildings that have been and are currently being renovated into offices and lofts. This movement compliments the many restaurants and bars that are popular in the evening hours and also great for business lunch.
Total Number of Buildings 1
Number of Stories 2
Typical SF / Floor 3,563 SF
Year Built 1953
Roof Type Gable
Construction/Siding Brick, Wood Siding
Parking Type Surface
Parking Description Onsite parking including an additional adjacent paved lot included in this sale. On street parking also available
Total Parking Spaces 18
Heat Type Gas
Heat Source Central
Air Conditioning Other
Interior Description Finished Office
Zoning Description B-3 Commercial
Lot Frontage (Feet) 198
Lot Depth 66
Topography Level
Easements Description Includes access rights to parking lot
Land Ownership Owned

Attachments & Media

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 19,873 75,602 148,991
Median Age: 30.55 32.91 35.01
Households: 8,122 31,700 60,567

Contact

This contact is a member of CPIX
Photograph of Listing Agent

Robert O. Andrus, CCIM

Michigan Commercial Realty, L.L.C
Note: The information presented herein is provided as is, without warranty of any kind. Neither Commercial Property Information Exchange (CPIX) nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.