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2985 Washtenaw Ave
Ypsilanti, MI 48197
Fresh Thyme Market · Retail Property For Sale
Investment Highlights
- Four Midwest Assets: Available Individually or as a Portfolio
- Meijer Subsidiary - Midwestern Grocer
- Minimal Landlord Responsibilities
- Long-Term Leases
- 3 of 4 Locations Have Upcoming 10% Bump
- Below Replacement Cost
Executive Summary
Midwest Fresh Thyme Portfolio is a four-asset, net-leased investment opportunity totaling 115,222 SF with a 5.9-year WALT, available individually or as a portfolio. The properties are leased to a Meijer subsidiary, a leading Midwestern grocer, and feature long-term leases with minimal landlord responsibilities. Three of the four locations have an upcoming 10% rent bump. The assets are located in prime, highly visible locations and are offered below replacement cost.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
29,510 SF
Building Class
C
Year Built
2016
Price
$10,276,000
Price Per SF
$348.22
Cap Rate
7.15%
NOI
$734,767
Tenancy
Single
Building Height
1 Story
Loading Docks
1 Exterior
Building FAR
0.19
Lot Size
3.52 AC
Zoning
B3
Parking
134 Spaces (4.69 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Bus Line
- Signage
Property Taxes
| Parcel Number | 11-06-350-021 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $2,262,800 |
Property Taxes
Parcel Number
11-06-350-021
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$2,262,800
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