Campus Retail / Commercial Space for Lease in Ann Arbor

Retail-Commercial for Lease
Catylist Listing ID: 30050519
Property Subtypes: Restaurant, Street Retail
Contiguous Space: 4,045 SF
Gross Building Area: See Agent
Lease Rate: $42 PSF (Annual)
Base Monthly Rent: $14,157
Lease Types: Modified Gross
Building Name: University Towers
Last Updated: 7/12/2018

Overview / Comments

Retail/Commercial space located at South University and S. Forest in the heart of the University of Michigan Central Campus. All updated infrastructure for restaurant and an excellent opportunity for retail as well with high traffic, great visibility and extensive signage on both South University and S. Forest. Below market rental rates for similar locations. All existing restaurant equipment is available to new tenant.

Expand All Available Space

Suite: 1 4,045 SF $42 PSF (Annual) Modified Gross
Level/Floor: First
Space Available: 4,045 SF
Lease Rate: $42 PSF (Annual)
$14,157 (Monthly)
Lease Type: Modified Gross
Space Description: Former restaurant space for lease. Prime location on U of M Campus at the corner of South University and South Forest.
Date Available: 4/7/2017
Lease Term: 60 Months
Space Type: Relet
Kitchen Yes

Additional Details

Nearest MSA: Ann Arbor
County: Washtenaw
Submarket/Township: Washtenaw W of 23
Taxing Authority: City of Ann Arbor
Tax ID/APN: 09-09-28-313-040
Zoning: D-1
Retail Clientele: General, Other
Property Located Between: Church & S. Forest
Property Visibility: Excellent
Largest Nearby Street: South University
Highway Access: I-94, US-23, M-14
Airports: DTW, Ann Arbor
Area Description: The Ann Arbor area is a friendly community with big-city sophistication; a world-class educational and high-tech research center nestled in a quintessential college town; a close-knit community of charming neighborhoods with a rich mix of cultures. The Ann Arbor campus has plenty to inspire and entertain. Ranked as the #2 Best College Town in America, Ann Arbor and the University of Michigan go together like Maize and Blue! With more than 43,000 undergrad and graduate students, campus life is interwoven with city life. Although geographically small, the area is perhaps most renowned for its entertainment, athletics, cultural offerings, dining experiences and nightlife. On almost any given weekend, a visit to Ann Arbor will coincide with one of the many festivals and special events hosted in Ann Arbor. Two of the most recognizable traditions are the Ann Arbor Art Fair and University of Michigan football. Every July, the award-winning Ann Arbor Art Fair transforms the downtown streets into an art gallery featuring thousands of juried artists. In the fall, each football Saturday brings more than 100,000 people to town for tailgating and fill "The Big House" to watch the University of Michigan Wolverines. In the winter, holiday light festivals and the Ann Arbor Folk Festival are always crowd pleasers. April brings the thaw and a weekend unlike any other as we celebrate whimsy during FoolMoon and FestiFools.
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Property Condition: Excellent
Parking Type: Structure
Parking Description: Parking available in nearby parking structure.
Passenger Elevators: 1
Zoning Description: 5:10.19. - D1 and D2 downtown districts. (1) Intent. These districts, in coordination with the downtown character overlay zoning districts, are designed to support the downtown as the city's traditional center. The downtown serves both the region and local residents as a place to live, work, and take advantage of civic, cultural, educational, shopping, and entertainment opportunities. The downtown districts are intended to allow a mixture of land uses, dense urban development, pedestrian orientation, unique residential opportunities, and a compatible and attractive mix of historic and contemporary building design. Development in these districts is designed to be accessible by a variety of modes of transportation. (a) D1 - Downtown Core District. This district is intended to contain the downtown's greatest concentration of development and serves as a focus for intensive pedestrian use. This district is appropriate for high-density mixed residential, office and commercial development. (b) D2 - Downtown Interface District. This district is intended to be an area of transition between the Core and surrounding residential neighborhoods. This district is appropriate for medium density residential and mixed-use development. Relationship to downtown character overlay zoning districts. The D1 and D2 downtown zoning districts shall be further regulated by the downtown character overlay zoning districts. Unless otherwise specified in this chapter, regulations identified for both the downtown district and the applicable downtown character overlay zoning district shall apply. • 5:10.20. - Downtown character overlay zoning districts. (1) Intent. The purpose of these overlay zoning districts is to supplement the regulations for zoning districts in the downtown to reflect the diversity of historical and built environments within the downtown. These character overlay zoning districts account for differences in the existing street pattern, density, massing and design features that exist throughout the downtown, in addition to the intent of the city for the future development of each area. (a) South University. The South University character district lies along the southeastern edge of the University of Michigan Central Campus, which separates it from the other mixed use districts of downtown. This is an area characterized by a mix of building types and sizes, with retail uses at the street level and relatively narrow lot widths. The intent for this district is to maintain a variety in scale, with design that reflects the small-scale widths and heights of buildings in the area at the streetwall and locates taller portions toward the interior of the lot. The south university D2 character district lies just outside the DDA boundaries, adjacent to nearby residential neighborhoods. The intent for this district is to maintain a variety of small-scale commercial and retail enterprises mixed with some residential uses, minimizing the impact on nearby residential streets.
Water Service: Municipal
Sewer Type: Municipal
Legal Description: BEG AT THE NW CORNER OF LOT 73, RANSOM S SMITH'S SECOND ADDITION TO THE CITY OF ANN ARBOR; TH DUE E 132 FT; TH S 00 DEG 24' 01" W 99 FT; TH DUE W 6 FT; TH S 00 DEG 24' 01" W 55.01 FT; TH N 89 DEG 44' 17" E 6 FT; TH S 00 DEG 24' 01" W 110.66 FT; TH S 89 DEG 52' 33" E 132 FT; TH N 00 DEG 24' 01" E 264.35 FT TO THE POB, CONTAINING 34,583 SQ FT OR .79 ACRES OF LAND. SPLIT ON 01/24/2011 FROM 09-09-28-309-028, 09-09-28-309-027, 09-09-28-309-026, 09-09-28-309-025.

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 32,445 127,952 175,152
Median Age: 24.83 33.34 34.56
Households: 10,259 52,902 72,515


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