Retail-Commercial for Lease
Catylist Listing ID: 30148116
Property Subtypes: Street Retail, Vehicle Related, Other
Building Status: Proposed
Contiguous Space: 7,680 SF
Building Size (RSF): 55,000 SF
Gross Land Area: 0.18 Acres
Lease Rate: $65.10 PSF (Annual)
Base Monthly Rent: $41,663
Lease Types: Ground Lease
Last Updated: 3/5/2018

Overview / Comments

One of the last student high-rise opportunities in downtown Ann Arbor. Located between South State Street and Main Street, close to central campus of the University of Michigan.

The zoning at this location is Central Business District with a D1 overlay. This is the highest and best zoning in the downtown area. According to the zoning, you can build 400% of the lot area without Premiums, 700% of the lot area with Premiums or 900% of lot area with affordable housing premiums. Given the D1 Overlay, a developer could build a 55,000 sq.ft. building, with Premiums.

Ground Lessee/Developer to pay all commissions and attorney fees. Contact Listing Agent for detail on commission.

Attachments & Media

Expand All Available Space

Suite: 417 7,680 SF $65.10 PSF (Annual) Ground Lease
Level/Floor: 1st Floor
Space Available: 7,680 SF
Lease Rate: $65.10 PSF (Annual)
$41,663 (Monthly)
Lease Type: Ground Lease
Space Description: Ground lease is based on the existing footprint of the existing building.
Date Available: 1/1/2018
Lease Term: 600 Months
Space Type: New
Rent Escalators Description Ground lease is increased by five (5%) percent every five years. Fifty year minimum on the ground lease.

Additional Details

Nearest MSA: Ann Arbor
County: Washtenaw
Submarket/Township: Washtenaw W of 23
Taxing Authority: City of Ann Arbor
Tax ID/APN: 09-09-29-108-004
Zoning: D-1
Retail Clientele: General, Family, Business, Traveler, Tourist
Property Located Between: South Division and South State Street
Property Visibility: Excellent
Tenancy: Multiple Tenants
Zoning Description: - 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.

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 35,823 114,509 164,587
Median Age: 25.28 33.37 34.28
Households: 11,955 46,779 68,223


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