2563 Ellsworth RdYpsilanti, MI 48197

Property Details for 2563 Ellsworth Rd

Year built

1998

Lot size

1.38 AC

Property size (Sq ft)

11,014 SF

Property type

Retail space

APN

K -11-18-100-014

APU

K1118100014

Description

This thriving coney island restaurant, located in a busy Ypsilanti strip center, presents a fantastic investment opportunity. Boasting 3,000 square feet on a 1.38-acre lot, this end-unit location offers exceptional visibility and ample parking. The restaurant is conveniently situated near Eastern Michigan University, ensuring a consistent customer base. Currently operating as a breakfast and lunch establishment, the business generates a strong monthly income averaging $43,000-$45,000. Significant recent upgrades include new flooring, booths, and tables (all installed in 2021), along with a fresh coat of paint, also completed in 2021. The well-equipped kitchen features a walk-in cooler, walk-in freezer, dishwashing station, and cashier area. The spacious dining room comfortably accommodates dine-in customers, and a carry-out option is also available. Family-owned and operated for over 18 years, the owner is now retiring, presenting a unique chance for a new owner to capitalize on the established success and expand operations, potentially by adding dinner service to further increase revenue. All data is approximate. Please note: Do not approach employees or customers.

• CAP approach

  CAP return

  Valuation

  6%

  $2,771,632

  6.5%

  $2,558,430

  7%

  $2,375,684

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,596,229

  Geo Method

  $2,596,229

• Alternative Use

  Use

  Valuation

  Residential

  $2,158,131

  Hospitality

  $1,976,836

  Educational

  $1,644,705

  Medical

  $1,701,269

  Retail

  $2,558,430

Location Insight

City

Ypsilanti

County

Washtenaw

State

Michigan

Latitude

42.2302

Longitude

-83.6499

CBSA code

11460

CBSA name

ANN ARBOR, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].