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    501 S Washington Ave Royal Oak, MI 48067

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    For Lease
    $12 SF/Yr ($3,465 /Mo)

    Highly visible corner building in Royal Oak available for rent.

    Property size:
    3,465 SF
    Lot size:
    0.08 Acres

    Property Features for 501 S Washington Ave

    General Information

    Size
    3,465 SF
    Lot size
    0.08 Acres

    Source: Landmark Commercial Real Estate Services Agent Anthony Vitale

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Royal Oak Corner Retail Space

    This highly visible corner building, with 3,465 square feet of retail space, is currently designed for use as a full-service hair salon. The layout includes manicure and pedicure chairs, and a massage room. The property features floor-to-ceiling glass windows and a contemporary interior design. Signage opportunities are available on both Washington Avenue and 5th Street. Street and structure parking are available. The property is located in close proximity to numerous dining, retail, and entertainment establishments.
    Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Restaurant Law Firm Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Royal Oak
    County
    Oakland
    State
    Michigan
    Longitude
    -83.1462678
    Latitude
    42.4862129

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    FAQs

    What type of property is this?
    Retail space - Highly visible corner building in Royal Oak available for rent.
    Where is this retail space located?
    The property is located at 501 S Washington Ave Royal Oak, MI.
    What is the lease rate?
    The lease rate is $12 SF/Yr.
    What are key features of this property?
    This property features: - Highly visible corner building with signage available on Washington Ave and 5th St.; - Currently designed for a full-service hair salon with manicure/pedicure chairs and a massage room.; - **Floor-to-ceiling glass windows with contemporary interior design.**
    (248) 488-2620
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    501 S Washington Ave Royal Oak, MI 48067
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