South State Street Retail

Retail-Commercial for Sale
Catylist Listing ID: 30519702
Property Subtypes: Convenience Store, Free-Standing Building, Retail-Pad, Street Retail
Building Status: Under Construction
Building Size (RSF): 5,500 SF
Gross Land Area: 0.93 Acres
Sale Price: $1,500,000
Unit Price: $272.73 PSF
In Opportunity Zone? Yes
Property Use Type: Investment, Vacant/Owner-User
Usable Size (USF): 5,500 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 2/23/2021

Overview / Comments

Great Investment Property (retail or office space) on South State Street, close to Costco, and Research Park. High ceilings, lots of windows.

Located just behind the Jimmy John's restaurant. Signage on S State Street and possibility on building.

Additional Details

Nearest MSA: Ann Arbor
County: Washtenaw
Submarket/Township: Washtenaw W of 23
Taxing Authority: City of Ann Arbor
Tax ID/APN: 09-12-09-301-012
Zoning: C3
Retail Clientele: General, Family, Business
Property Located Between: North of E Ellsworth and East of S. State Street
Property Visibility: Good
Largest Nearby Street: State Street
Traffic/Vehicle Count: 43,870
Highway Access: Easy access to I-94, just 1/3 of a mile north of property.
Airports: Ann Arbor, Willow Run & Detroit Metro
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 5,500 SF
Property Condition: Excellent
Year Built: 2018
Roof Type: Flat
Construction/Siding: Brick
Total Parking Spaces: 22
Parking Ratio: 4 (per 1000 SF)
Parking Type: Surface
Parking Description: Ample parking right outside your door.
Internet Access: Cable, ISDN
Zoning Description: C3 fringe commercial district. (1) Intent. The design and regulations of this district are set up to provide for certain types of commercial activities which have characteristics in common. In this district, the customer usually comes directly to the particular establishment by automobile, making a separate stop for each errand. Comparison shopping activity is less than in the central business district. Since there is little essential interdependence of activities, establishments can be dispersed over considerable areas with each establishment having its own automobile parking. Good automobile accessibility is essential to these districts. The uses permitted, because of their lack of intense pedestrian activity and their required contact with auto access, would be incompatible in the central business district. (2) Permitted principal uses. (a) Any principal use permitted in the C2B business service district. (3) Permitted accessory uses. (a) Those allowed in the R3 district.
Water Service: Municipal
Sewer Type: Municipal
Easements: Other
Easements Description: Provided with title commitment
Land Ownership: Owned
Legal Description: THE N 82.5 FT OF THE S 330.0 FT OF THE W 528 FT OF SW 1/4 SEC 9 T3S R6E 1.00 AC

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,526 67,722 169,032
Median Age: 34.45 35.37 34.38
Households: 2,460 28,232 69,700


Photograph of Listing Agent

James H. Chaconas

Colliers International
CPIX Member
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