19860 12 Mile RdSouthfield, MI 48076

Property Details for 19860 12 Mile Rd

Year built

1890

Lot size

1.08 AC

Property size (Sq ft)

3,530 SF

Zone code

RM

Property type

Office properties

Property subtype

Office buildings

APN

76-24-11-351-041

APU

762411351041

Description

Own a piece of Southfield history with this 2,500 square foot, vacant, Class B office building located at 19860 W 12 Mile Rd, Southfield, MI 48076. This property, situated on a 1.08-acre lot, boasts 178 feet of frontage on 12 Mile Road and a depth of 265 feet. Built in 1890, the two-story building offers a unique opportunity for redevelopment or adaptive reuse. The property's permitted commercial zoning allows for a variety of uses. Previous uses include a bed and breakfast, insurance office, law firm, and wedding boutique, showcasing its versatility. The building features original hardwood floors, a natural fireplace, a spacious three-season room, and an updated kitchen with Corian counters and stainless steel double oven. Additional amenities include central air, a newer boiler, a backup generator, and a three-car garage. Direct basement access and signage allowance on the front lawn add to its appeal. The property is conveniently located near Beverly Hills, Bingham Farms, and Birmingham. Adjacent properties include Country Knoll Condominium, Silver Brook Condominium, and a former Huntington Bank building. The asking price is $349,900. The property is currently vacant with an occupancy date of March 19, 2024. Additions or demolition may be possible with approval from the historical planning commission.

• CAP approach

  CAP return

  Valuation

  6%

  $604,293

  6.5%

  $557,809

  7%

  $517,966

• Comparable approach

  Method

  Valuation

  Relative Method

  $330,196

  Geo Method

  $330,196

• Alternative Use

  Use

  Valuation

  Residential

  $691,684

  Hospitality

  $633,578

  Educational

  $527,130

  Medical

  $545,259

  Retail

  $819,980

Location Insight

City

Southfield

County

Oakland

State

Michigan

Latitude

42.5025

Longitude

-83.2407

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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