Commercial Real Estate Services

www.friedmanrealestate.com 248.324.2000

    Property Search

    Choose from the following options to narrow your search results:


    For Sale

    Jo-Ann Fabrics – Single Tenant Investment Opportunity

    3737 Carpenter Road
    Ann Arbor, Michigan 48197

    Share Listing

    E-mail this listing
    Sender's Name
    Sender's Name is missing or invalid.
    Sender's Email
    Sender's Email Address is missing or invalid.
    Recipient's Name
    Recipient's Name is missing or invalid.
    Recipient's Email
    Recipient's Email is missing or invalid.
    Comment
    Email has been sent.
    An error occured while sending an email. Please try again.

    Share this listing

    Request a Call

    Your Name
    Your Phone Number
    Your Email

    Your Message
    Thank you. A representative from Friedman will be contacting you shortly.
    An error occured while processing your request. Please try again.
    Success

    Thank you. A broker will be in touch shortly.

    For Sale

    Jo-Ann Fabrics – Single Tenant Investment Opportunity

    3737 Carpenter Road
    Ann Arbor, Michigan 48197

    - Property Information

    eCODE 498
    County: Washtenaw
    Property Type: Retail
    Total Building SF: ± 45,000 SF
    Occupancy Rate: 100%
    Sale Price: $6,250,000
    Sale Price Per SF: $138.89

    - Property Details

    Year Built: 2000
    Parking Type: Surface

    - Additional Information

    • Jo-Ann has been in occupancy since the original lease was executed in June, 2000 and recently extended their lease term by ten (10) additional years through January, 2027; two years before the previous term expired showing their commitment to this location.
    • Jo-Ann is in-line and part of the Valley View Shopping Center, which also includes Target, Babies R Us, AT&T and Lane Bryant. Outparcels include Red Robin, McDonald’s and Applebee’s.
    • The property is located on the east side of Ann Arbor near the University of Michigan and Eastern Michigan University, just north of the US-23 & I-94 intersection. Area retailers include Meijer (adjacent), Home Depot, Lowe’s, Kroger, Gordon Foods, Walmart & Rave Movie Theatres.
    • Cap Rate – 7.75%
    • In Place NOI – $485,276

     

    - For more information, contact:

    Steven Silverman

    248.324.2000 Request a call