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    626 Wayne Rd Westland, MI 48186

    For Sale
    $399,000

    1.1-acre lot, prime commercial location

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    368
    This 1.1-acre commercial land parcel in Westland, Michigan, presents a compelling redevelopment opportunity. Located at 626 S Wayne Rd, 48186, the property boasts 154 feet of frontage on Wayne Road and 86 feet on Oakwood Road. Zoned CB-1, it benefits from a high-traffic location with 24,918 vehicles per day on Wayne Road. The site is ideally situated within a thriving commercial area, only 20 minutes from the Detroit Metropolitan Airport and close to I-275. Strong demographics support this investment, with over 288,000 people, an average household income exceeding $87,000, and 8,516 businesses within a 5-mile radius. The total annual household expenditure budget within this 5-mile radius surpasses $9 billion. Offered fee simple and free and clear of debt, this property is priced at $399,000 and represents a significant chance to capitalize on a robust market. The property's size and location make it suitable for a variety of commercial developments.

    Property Features for 626 Wayne Rd

    General Information

    Property type
    Land
    Lot Size
    47,916 SF

    HighLights

    • 20‑minute drive to Detroit Metropolitan Airport.
    • Excellent I‑275 access.
    • Situated in a thriving, densely populated commercial area.
    • High traffic count: 24,918 vehicles per day on Wayne Road.
    • Prominent frontage: 154 feet on Wayne Road and 86 feet on Oakwood Road.
    • Strong demographics: 288,000+ population, $87,000+ average household income, and 8,516 businesses within a 5‑mile radius.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    $5 car wash Car Wash Westland Porta Potties ... Construction Equipment Supplier

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Westland
    County
    Wayne
    State
    Michigan
    Longitude
    -83.388517920773
    Latitude
    42.304726634514

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    FAQs

    What type of property is this?
    Land - 1.1-acre lot, prime commercial location
    Where is this land located?
    The property is located at 626 Wayne Rd Westland, MI.
    What is the asking price?
    The asking price for this property is $399,000.
    What are key features of this property?
    This property features: 20-minute drive to Detroit Metropolitan Airport.; Excellent I-275 access.; Situated in a thriving, densely populated commercial area.
    Request Owner's contact information
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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
    626 Wayne Rd Westland, MI 48186
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