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Cottage Inn Gourmet Pizza

$672,000

2407 Washtenaw Avenue, Ypsilanti, MI 48197

Active
Last Updated: 07/30/2025

6.25

Cap Rate

42,000

NOI

Details:
Cap Rate:    6.25%
NOI:    $42,000
Building Size:    2,600 sqft
Lot Area:    0.47 acres
Year Built:    1975
Highlights:
  • Freestanding Building – 2,600 square foot structure situated on 0.47 acres with strong street presence and dedicated parking.
  • Veteran Operator - 30-years w Cottage Inn - Two Locations
  • Established High-Traffic Location - Positioned on Washtenaw Avenue with over 27,474 vehicles per day, offering exceptional visibility and easy access.
  • New 10-Year Absolute NNN Lease - Strong lease term in place with four (4) five-year options and 10% rent increases at each extension.
  • Major Franchise Growth – New ownership projects 80+ new locations across Michigan, Ohio, and Indiana by 2026.
  • University-Adjacent Location – Located just outside Eastern Michigan University (13,352 students) and within 5 miles of the University of Michigan.
  • Affluent and Dense Trade Area – Over 171,256 residents within a 5-mile radius with average household incomes exceeding $101,946.
  • Strong Local Market – Ypsilanti offers a vibrant mix of students, professionals, and families — ideal for QSR and delivery demand.
  • Established Brand Loyalty – Founded in nearby Ann Arbor, Cottage Inn Pizza enjoys deep brand recognition across Southeast Michigan.
  • Passive Investment Structure – NNN lease provides hands-off, reliable cash flow with minimal landlord obligations.
Description:

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The Ann Arbor and Ypsilanti areas offer a rich blend of culture, activities, and sports that cater to diverse interests. Ann Arbor, home to the University of Michigan, boasts a vibrant arts scene with numerous theaters, galleries, and music venues. The Ann Arbor Summer Festival, held each June, features over 200 events, including concerts, film screenings, and family-friendly activities. The city's culinary landscape is equally dynamic, with establishments like Zingerman's Deli and The Bar at 327 Braun Court offering unique dining experiences. For outdoor enthusiasts, Ann Arbor provides ample opportunities for cycling, running, and water sports, with the Border-to-Border Trail and Huron River serving as popular spots.

Ypsilanti, located just east of Ann Arbor, presents a more laid-back atmosphere with its own array of cultural and recreational offerings. Depot Town, the city's historic district, features colorful buildings, boutique shops, and local eateries. The area hosts several annual events, including the Ypsilanti Heritage Festival, Michigan ElvisFest, and the Orphan Car Show, which celebrate the community's history and unique character. For outdoor activities, Riverside Park and Frog Island Park offer scenic views along the Huron River, perfect for picnics, walking, or attending local festivals. Ypsilanti's proximity to Eastern Michigan University adds a youthful energy to the city, with various student-led events and performances enriching the local culture.

Ann Arbor and Ypsilanti, Michigan, are experiencing positive population and development growth. Ann Arbor’s population is around 116,500 as of 2025, supported by ongoing housing projects driven by the University of Michigan. The university is developing a large residential complex with over 4,000 new student housing units to meet growing demand. Additionally, the Arbor South project plans to add about 1,000 apartments near Briarwood Mall, including affordable housing options. These developments highlight the city’s commitment to expanding housing while enhancing community living.

Ypsilanti has a population of approximately 20,150 and is seeing strong development activity, especially in its downtown area. The Ypsilanti Downtown Development Authority is leading efforts to revitalize Depot Town, attracting new businesses and residents. Expansion of Eastern Michigan University’s campus is also contributing to growth and community vibrancy. Together, these projects are helping Ypsilanti become an increasingly desirable place to live and work. Both cities are actively growing their residential and commercial spaces to support thriving, welcoming communities.

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