Commercial Redevelopment Opportunity for Sale in Ann Arbor

5899 W Michigan Avenue Ann Arbor, MI 48108

5899 W Michigan Avenue, Ann Arbor, MI, 48108
5899 W Michigan Avenue, Ann Arbor, MI, 48108 5899 W Michigan Avenue, Ann Arbor, MI, 48108 5899 W Michigan Avenue, Ann Arbor, MI, 48108 5899 W Michigan Avenue, Ann Arbor, MI, 48108
FOR SALE
Property Type:
Other Land
Amount:
$445,000
Last Verified:
Jun 19, 2024

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Highlights

  • Zoning allows for a variety of uses including retail, office and restaurants
  • Strategic location with high visibility on W Michigan Ave
  • Additional adjacent 1.08 acres available for expansion
  • Direct access to major highways US-23 and I-94
  • Pittsfield Township

Description

Overview: Spanning a total of 1.72 acres across three parcels, this prime commercial real estate offers a unique redevelopment opportunity in the heart of Pittsfield Township. Positioned with excellent visibility along W Michigan Ave., and featuring easy access to US-23 and I-94, this site is ideally suited for a variety of uses including retail, office, and restaurants under its current Form-Based Use zoning.

Property Highlights:
• Flexible Zoning: Supports a diverse range of commercial developments including multi-use complexes that can combine retail, office, and dining spaces.
• Expansion Potential: An additional adjacent 1.08 acres is available, providing further development flexibility and potential for larger projects.
• Strategic Location: Situated with frontage on W Michigan Ave., ensuring high visibility and traffic, crucial for commercial success.

Investment Appeal: This property is a rare find in a growing area, promising a lucrative investment with its redevelopment potential. Its zoning allows for innovative and varied commercial use, making it an ideal spot for developers looking to capitalize on Ann Arbor’s expanding commercial landscape.

Development Potential: The site's considerable size and strategic location offer developers the freedom to create a landmark commercial hub that could serve as a focal point for business and leisure in the region. Whether for building a retail plaza, a professional office park, or a combination with eateries, the possibilities are as expansive as the site itself.

Connectivity:
• Major Roadways: Direct access to major highways US-23 and I-94 provides excellent connectivity to regional markets and easy commuting options.
• Local Infrastructure: Benefiting from its location in Pittsfield Township, the site is part of a well-developed area known for its robust infrastructure and business-friendly environment.

Opportunity: With its combination of flexible zoning, additional available acreage, and a prime location, this property presents a unique opportunity to shape the future of Ann Arbor’s commercial landscape.

Michigan Avenue (US-12) is first exit 1.5 miles south on US-23 (Ann Arbor to Toledo) of interchange with I-94 (Detroit to Chicago) expressway. 5899 W Michigan Ave has immediate access to Township services, being one-quarter mile east of Pittsfield Township Hall, Police and Fire Departments. The first cross-street, 1/8 mile to West of US-23, is Textile. (Ref. CityFeet.com)

Building Size: 0sq ft
Lot Size: 1.72 acres


Documents

Sale Brochure 5899 Michigan

Map of 5899 W Michigan Avenue, Ann Arbor, MI, 48108

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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.