Corner Office
New
For Sale
$199,999
1014 N Wayne Rd, Westland, MI 48185
An existing lease has approximately three years remaining for the tax preparation office tenant.
Property Size785 SF
Days on Market2
Property Features for 1014 N Wayne Rd
General Information
Standard status
Active
Size
785 SF
Property subtype
Commercial
Net Operating Income
$15,400
Financials
Asking Price
$199,999
Cap Rate
7.7%
Gross Income
$20,400
Additional Details
Tenant in Place
Yes
Property Use
Office
Taxes and HOA fees
Annual Taxes
$3,262
Building Details
Building Size
785 SF
Year Built
1947
Tenancy
Single
Owner Occupied
No
Listing Agency:
S&P Realty
Listed By:
Shane Parker · License #6501397534
(313) 454-8608
Source:
Elliman
Added: Oct 28
Last Checked: Oct 28 at 3:56PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of S&P Realty
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Investment Insights
Based on property information with market context.
Built in 1947, this office building at 1014 N. Wayne Road is occupied by a Jackson Hewitt tax preparation office and is being sold subject to its lease. Approximately three years remain on the term. The property has an updated interior with newer flooring, drywall, and paint, along with electrical work completed in 2021. Salon hookups from a former hair salon use remain in place; any future use is subject to applicable approvals.
The corner property includes on-site parking. Its current capitalization rate is approximately 7.7%, based on existing income and expenses. The property’s Bike Score is 44 and Walk Score is 55.
The corner property includes on-site parking. Its current capitalization rate is approximately 7.7%, based on existing income and expenses. The property’s Bike Score is 44 and Walk Score is 55.
Key Highlights
- Occupied by a Jackson Hewitt tax preparation office; sale is subject to the existing lease
- Approximately 3 years remain on the lease
- Approximately 7.7% current capitalization rate
Property Analytics
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Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
404
Businesses Nearby
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Business Placement
Demographics for 48185, MI
49,730
Population
23,554
Households
2.1
Avg Household Size
40
Median Age
23%
College-Educated
91%
High-School Grad
12.2 sq mi
ZIP Area
4,076
Density / Sq Mi
$59,085
Median Household Income
$40,435
Median Earnings
$1,123
Median Rent
$183,500
Median Home Value
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office building - An existing lease has approximately three years remaining for the tax preparation office tenant.
Where is this office building located?
The property is located at 1014 N Wayne Rd Westland, MI.
What is the asking price?
The asking price for this property is $199,999.
What are key features of this property?
This property features: Occupied by a Jackson Hewitt tax preparation office; sale is subject to the existing lease; Approximately 3 years remain on the lease; Approximately 7.7% current capitalization rate
