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    8282 Woodward Ave Detroit, MI 48202

    Sponsored
    For Sale
    $1,300,000

    Profitable Medical Office Building, Detroit

    Property size:
    5,500 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This 5,500 square foot medical office building, located at 8282 Woodward Avenue in Detroit, Michigan, presents a compelling investment opportunity. The property, built in 1999, sits on a 0.32-acre lot (APN 01-004320) and is zoned B-4 Commercial Lot. Currently operating at 100% occupancy as a single-tenant facility, the building offers excellent visibility and frontage on Woodward Avenue. The property features ample parking and prominent building signage. The interior comprises 10 rooms, including dedicated spaces for X-ray, laboratory functions, and a nurses' station. This Class C building is situated in the New Center-Detroit district, near major retailers such as a supermarket, Burger King, Citgo Gas Station, and Family Dollar. Its strategic location offers proximity to the Virginia Park Historic District, Fisher Theatre, Hotel St. Regis, and Henry Ford Hospital, ensuring high foot traffic and visibility. The asking price is $1,300,000, translating to $236.36 per square foot. The property's designation as a Qualified Opportunity Zone presents significant tax advantages for investors. This established medical facility is ideal for owner-occupiers or investors seeking a stable, high-return investment in a thriving urban location.

    Property Features for 8282 Woodward Ave

    General Information

    Property type
    Medical offices
    Square Feet
    5,500 SF
    Class
    C
    Lot Size
    13,939 SF

    Building Details

    Year Built
    1999

    HighLights

    • 5,500 SF medical office building in Detroit, MI.
    • Located at 8282 Woodward Avenue on a 0.32‑acre lot (APN 01‑004320), zoned B‑4.
    • 100% occupied, single‑tenant facility.
    • $1,300,000 asking price ($236.36/SF).
    • Qualified Opportunity Zone property.
    Property Profile Location Intelligence

    Current Use by Public Records

    Dr. Nazmul Haque, ... Doctor A&M Pharmacy Pharmacy BMC Urgent Care-MI Medical Clinic Ramegowda Rajagopal Cardiologist Amy Davisson General Practitioner

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Detroit
    County
    Wayne
    State
    Michigan
    Longitude
    -83.0768044
    Latitude
    42.3759108

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    FAQs

    What type of property is this?
    Medical office - Profitable Medical Office Building, Detroit
    Where is this medical office located?
    The property is located at 8282 Woodward Ave Detroit, MI.
    What is the asking price?
    The asking price for this property is $1,300,000.
    What are key features of this property?
    This property features: 5,500 SF medical office building in Detroit, MI.; Located at 8282 Woodward Avenue on a 0.32-acre lot (APN 01-004320), zoned B-4.; 100% occupied, single-tenant facility.
    Request Owner's contact information
    8282 Woodward Ave Detroit, MI 48202
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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
    8282 Woodward Ave Detroit, MI 48202
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