Property profile

6902 Chicago Rd Warren, MI 48092

OFF-MARKET
Assisted living facilities
Property ID
US43-1024219
52,997 SF 6.09 ac lot Built 1938
Individually Owned 10-yr Hold Free & Clear
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Property summary

AI-generated overview

This exceptional 70,486 square foot mixed-use property, located at 6902 Chicago Road in Warren, Michigan (48092), presents a rare investment opportunity. Built in 1938 and renovated in 1977, this two-story building sits on a substantial 6.09-acre lot and is currently configured as a 160-person behavioral health residential/outpatient facility. The property boasts attractive grounds featuring a baseball diamond, basketball court, and picnic areas, creating a unique and appealing setting. A maintenance shed is conveniently located on-site. The property is zoned "O" and benefits from its proximity to the General Motors Tech Center. The land value is calculated at $107.82 per square foot, reflecting the significant potential of this location. Note that a deed restriction is in place. The asking price for this substantial property is $7,600,000. This presents a compelling opportunity for investors seeking a large-scale property with significant redevelopment potential in a desirable location. The property's size, amenities, and strategic location near the General Motors Tech Center make it a truly unique offering.

Property profile

Verified
Property type Assisted living facilities
Use group HOMES (RETIRED, NURSING)
Year built 1938
Total area 52,997 SF
Lot 6.09 ac (265,106 SF)
Zoning code MZ
APN 12-13-04-451-010
UPID US43-1024219

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Medical Clinic

Location

6902 Chicago Rd Warren, MI 48092-1686
Warren metro Census 982300 DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
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Comparable Approach Comparable
by Request
Blend (final) Blend
$2.00M

Owner & transaction history

since 2016
4 recorded transactions
2016
Price N/A
2016
$2.0M
2009
Price N/A
1969
Price N/A

Zoning & alternative use

MZ · Warren, MI

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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