Downtown Ypsilanti Retail/Restaurant/Office

Retail-Commercial for Sale
Distressed
Catylist Listing ID: 28589143
Property Subtypes: Restaurant, Street Retail, Tavern/Bar/Nightclub
Building Size (RSF): 16,554 SF
Gross Building Area: 16,554 SF
Gross Land Area: 10,576 SF
Sale Price: $175,000
Unit Price: $10.57 PSF
Ceiling: 10 ft.
Building Name Club Savoy
Sale Terms Cash to Seller
Distressed/Bank-Owned Yes
Last Updated: 10/31/2014

Property Overview

Large open floor retail building located just off Michigan Ave and walking distance to EMU, Depot Town and Frog Island. Commercial kitchen on 1st floor. 2nd floor level is stripped to studs. Building needs extensive remodeling. Could be bought with adjacent building 13 N. Washington. Contact list agents for details on DDA re-development incentives.

Financials

Finance Data Year 2013
Real Estate Taxes - Annual($) $25,443 (Annual)
Tax Value Improvements $245,760
Assessed Value - Total($) $298,200 (Annual)

Additional Details

Nearest MSA Ann Arbor
County Washtenaw
Submarket Washtenaw E of 23
Tax ID Number/APN 11-11-40-484-022
Property Use Type Vacant/Owner-User
Zoning B-3
Tenancy Multiple Tenants
Percent Occupied 0%
Market Type Medium
Retail Clientele General
Property Located Between W. Michigan Ave & Pearl
Side of Street West
Road Type Paved
Property Visibility Excellent
Largest Nearby Street Michigan AVe.
Feet of Frontage 90
Transportation Bus, Highway, Taxi
Highway Access I-94
Total Number of Buildings 1
Number of Stories 2
Typical SF / Floor 7,929 SF
Property Condition Poor
Year Built 1822
Year Renovated 2002
Roof Type Flat
Construction/Siding Brick
Parking Type Surface
Parking Description Public parking and street parking
Heat Type Gas
Heat Source Central
Air Conditioning Engineered System
Zoning Description B-3 City of Ypsilanti
Lot Frontage (Feet) 90.5
Lot Depth 120
Topography Level
Legal Description Lot 83 & part of Lot 86 original plat

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 16,310 75,602 142,846
Median Age: 28.89 32.91 34.94
Households: 6,477 31,700 58,120

Contact

Photograph of Listing Agent

David L. Hamilton, CCIM

Swisher Commercial CPIX Member
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