Prime Downtown Commercial Real
34233 MICHIGAN Avenue Wayne, MI 48184
34233 MICHIGAN Avenue, Wayne, MI, 48184
$500,000
For Sale
$500,000
Nearly one acre in Wayne's DDA district.
Property Size1,728 SF
Lot Size0.99 Acres
Price / SF$289.35
Days on Market458
Property Features for 34233 MICHIGAN Avenue
General Information
- Standard status
- Active
- Size
- 1,728 SF
- Lot size
- 0.99 Acres
- Property subtype
- Commercial/Industrial
Listing Agency
Keller Williams Advantage
(248) 672-2185
Listed by
Hassan T Bazzi · License #6501340686
(248) 672-2185
Source
Exitrealty
Added: Apr 18, 2025 Checked: Jul 19 at 3:50 am
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 Keller Williams Advantage
Investment Insights
Based on property information with market context.
This property offers nearly one acre of prime real estate in the City of Wayne's downtown area. Situated on Michigan Avenue (US-12), just east of Wayne Road, it falls within the City of Wayne Downtown Development Authority (DDA) district boundary. The property features a two-story brick Craftsman-style building at the front, previously utilized as a business office. A 40' X 60' steel warehouse, used for storage and housing inventory, is located at the center of the property, along with a storage canopy and salt shed bin at the back. The warehouse includes two drains and an oil sump drain. Updated with three strategically placed water catch basins for storm-water runoff management, the property offers room for expansion, additional structures, or a new business concept. It is zoned Commercial - Business Industrial, making it suitable for construction, landscaping, auto, storage, franchise, or other business ventures. The property is located minutes from Detroit Metro Airport (DTW) and freeways I-275 & I-94, and near downtown Wayne, Ford Motor Wayne Assembly Plant, Wayne Police Dept., Wayne City Hall, Goudy Park, shopping, dining, entertainment, and recreation. The front building has a property size of 1728 square feet.
Key Highlights
- Prime real estate location on Michigan Avenue (US‑12) in downtown Wayne, within the Downtown Development Authority (DDA) district.
- Nearly one acre of land zoned Commercial - Business Industrial, offering significant development potential.
- Includes a 2‑story brick Craftsman‑style building and a 40' x 60' steel warehouse with two drains and an oil sump drain.
Local Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $37.3k | $21.60 |
| − Vacancy | −$4.5k | −$2.59 |
| EGI | $32.8k | $19.01 |
| − OpEx | −$12.3k | −$7.13 |
| NOI | $20.5k | $11.88 |
1,728 SF · lease $21.60/SF/yr · vacancy 12.00% · expense 37.50%
Alternative Uses
Best Use
Mixed Use
$293.3K
$256.6K – $342.2K
NOI $20,529 @ 7.0% cap · market cap 4.11%
Second Best
Warehouse
$155.2K
$135.8K – $181.1K
NOI $10,863 @ 7.0% cap · market cap 2.17%
Theoretical Best
Specialty Retail
$319.9K
$279.9K – $373.3K
NOI $22,395 @ 7.0% cap · market cap 4.48%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Office Units
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Nearly one acre in Wayne's DDA district.
Where is this mixed-use property located?
The property is located at 34233 MICHIGAN Avenue Wayne, MI.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Prime real estate location on Michigan Avenue (US‑12) in downtown Wayne, within the Downtown Development Authority (DDA) district.; Nearly one acre of land zoned Commercial - Business Industrial, offering significant development potential.; Includes a **2‑story brick Craftsman‑style building** and a **40' x 60' steel warehouse** with two drains and an oil sump drain.
