MC Driving School Secures Retail Lease At Arbor Square Plaza In Ypsilanti
4039 Carpenter Road Ypsilanti, Michigan 48197, USA
Building Size
2,322 SF
Asset Type
Retail
Closing
May 11, 2023
AI
MC Driving School has secured a 2,322-square-foot retail lease at Arbor Square Plaza in Ypsilanti, Michigan. The address of the property is 4039 Carpenter Road. The market in which this lease is located is Ypsilanti, Michigan.
Summary of transation details
- Property Type: Retail
- Square Footage: 2,322
- Landlord: Verus Development Group
- Tenant: MC Driving School
- Brokers: Michael Murphy & Tjader Gerdom - Gerdom Realty & Investment
Michael Murphy and Tjader Gerdom of Gerdom Realty & Investment represented the landlord, Verus Development Group, in the lease transaction involving MC Driving School at Arbor Square Plaza in Ypsilanti.
Note: MC Driving School will be occupying the space previously held by Weight Watchers.
Players
Ypsilanti Retail Market Snapshot
Boundary boundary · Retail · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93