Ypsilanti Self Storage Conversion Site
Ypsilanti, MI
Asking price
$1,310,000
Units
817
Cap rate
—
Price / unit
$1,603
What it would have to earn
This listing does not publish an NOI, so its return cannot be computed. These are the figures it would need to hit at the asking price — a screen to take to the broker, not a claim about the property.
- A 6% cap rate at this asking price
- $78,600($96/unit)
- A 8% cap rate at this asking price
- $104,800($128/unit)
- A 10% cap rate at this asking price
- $131,000($160/unit)
Annual net operating income, before financing. Cap rates vary by asset class and market; these three are a range to screen against, not a market rate for this property.
Only 1 listing in self-storage facilities discloses a cap rate — too few to publish a range, so this screen has nothing disclosed to check it against.
Add financing and run the full numbers →About this property
Argus Self Storage Property Listings Listings Who We Are Find A Broker What We Do News & Research Market Monitor Presentations Industry News Closings Contact Listings Who We Are Find A Broker What We Do News & Research Market Monitor Presentations Industry News Closings Contact Ypsilanti Self Storage Conversion Site Back to Results NEW Ypsilanti, MI $1,310,000 12 E Forest Ave presents a self storage conversion opportunity located in Ypsilanti, Michigan. The project is proposed for 127,198 GSF and 90,250 NRSF across 2.56 acres +/- featuring a 2-story, 100% climate controlled building. The property has excellent visibility, access, and 368 feet of frontage along Forest Ave. The population is 68,428 with 4.4% projected population growth (5-yr) and an AHHI of $84,223 within a 3-mile radius. This site offers developers a rare opportunity to deliver a best-in-class facility in a submarket with strong demographic drivers and attractive supply and demand fundamentals. $1,310,000 View Executive Summary Request Offering Memorandum All fields are required. I am a Principal I am a Broker I accept the Disclaimer . Property Info $1,310,000 90,250 RSF 817 Units 2.56+/- Acres Contact Listing Broker Listing Broker Kevin Friedman Hayes Ventures [phone — unlock to view] Email Stay Connected Contact Us 1-800-55-STORE Contact Us 5460 S. Quebec Street Suite 100 Greenwood Village, CO 80111 [email — unlock to view] Join Argus Interested in becoming an Argus Broker Affiliate? Learn How © 2026 Argus Self Storage Advisors.
All details
Figures are transcribed from the source listing as published. “Source page last checked” is when our crawler last fetched that page — it is not a check of the financials and not confirmation from the broker.
| Asking price | $1,310,000 |
|---|---|
| Units | 817 |
| Price per unit | $1,603 |
| Building size | 90,250 sq ft |
| First seen by UnitListed | Oct 7, 2026 |
| Source page last checked | Oct 7, 2026 |
| Source last changed | Oct 7, 2026 |
Trade area · Washtenaw, MI
4 of 6 availableContext about the county from the public record — not from the seller, and not a valuation. The seller's own figures are shown separately above and are never mixed with these.
Washtenaw, MI has 17 lessors of miniwarehouses and self-storage units recorded by Census across 368,394 residents — about 21,670 people per facility.
- Mapped competitors within 10 miles
- 43
- Residents per competing facility
- 21,670
- Renter-occupied housing
- 38.4%
- Median SBA loan approved, this asset class
- —
- SBA loans in this industry that charged off
- —
- FEMA composite risk rating
- Relatively Moderate
OpenStreetMap contributors · current
US Census County Business Patterns + ACS · 2022 · county level
US Census ACS 5-year, table B25003 · 2023 · county level
Only 2 loans recorded — too few to publish a median. The count is shown instead.
SBA 7(a) and 504 FOIA loan disclosures · FY2012-FY2012 · county level
Only 2 loans on record; a default rate over that few is noise.
SBA 7(a) and 504 FOIA loan disclosures · FY2012-FY2012 · county level
FEMA National Risk Index · 2025 · county level
Sources: US Census Bureau (County Business Patterns, American Community Survey), US Small Business Administration 7(a)/504 loan disclosures, FEMA National Risk Index, and © OpenStreetMap contributors. Public records describe a county, not this property.
Before you call the broker
8 things are not disclosed on this listing. These are the questions that would close the gap — specific to a storage facility, not a generic list.
Net operating income — not disclosed
What is the trailing twelve-month NOI, and what does it include and exclude?
The single number a lender will size debt against. Ask what is excluded — management fees and reserves are the usual omissions.
What period the financials cover — not disclosed
Are these figures trailing twelve months, last calendar year, or projected?
A projected stabilised NOI and a current operating NOI can differ by a third, and both get called "NOI".
Gross income and operating expenses — not disclosed
Can you share a trailing twelve-month profit and loss, with the expense lines itemised?
NOI alone hides whether income is high or expenses are being under-reported. The split is what you underwrite.
Reason for sale — not disclosed
Why is the owner selling, and how long have they held it?
Never published on a listing, always worth knowing. Retirement and a looming capital bill are very different situations.
Physical vs economic occupancy — not disclosed
What is physical occupancy, and what is economic occupancy?
A facility can be 92% full and still be collecting far less, through concessions and delinquency. Physical occupancy alone flatters the deal.
Climate-controlled share — not disclosed
How many units are climate-controlled, and what is the rate premium?
Climate-controlled space earns more per square foot and costs more to run. The mix changes both sides of the model.
Expansion land and entitlements — not disclosed
Is there expansion land, and has anything been entitled or permitted?
Often the whole thesis in storage. Also the difference between a plan and a permit.
How it is managed today — not disclosed
Is this staffed, remotely managed or unmanned, and does a management contract transfer?
Decides whether the expense line you are shown survives the sale.
Asking price — disclosed
Currency of the asking price — disclosed
Unit mix and rent roll — disclosed
What has changed
Every date below is when we observed a change, not when it happened. We first saw this listing on Oct 7, 2026; that is not the same as when it came to market, and we have no way to know the latter.
- Oct 7, 2026First seen by UnitListed
The asking price has not changed across any of our observations.
