24053 Jefferson AveSt. Clair Shores, MI 48080

Property Details for 24053 Jefferson Ave

Year built

1983

Lot size

0.16 AC

Property size (Sq ft)

2,145 SF

Zone code

CLD

Property type

Office properties

Property subtype

Office buildings

APN

09-14-27-478-047

APU

91427478047

Description

This exceptional 2,200 square foot free-standing office building, located at 24053 Jefferson Ave in St. Clair Shores, Michigan (48080), presents a compelling owner-user or investment opportunity. Built in 1983, this Class B property sits on a 0.158-acre lot (APN: 09.14.27.478.047) and boasts a desirable location in the Nautical Mile district. The single-story building features a well-designed layout including five large executive offices, two conference rooms, an open clerical area, a kitchenette, and a restroom. Currently 100% occupied with existing tenants who may be interested in leasing back a portion of the space, this move-in ready property offers immediate income potential. The building is zoned CLD and is suitable for law and general office use. The asking price is $300,000, translating to a land value of $136.36 per square foot. This is a rare opportunity to acquire a well-maintained, multi-tenant office building in a prime location.

• CAP approach

  CAP return

  Valuation

  6%

  $446,129

  6.5%

  $411,811

  7%

  $382,396

• Comparable approach

  Method

  Valuation

  Relative Method

  $200,643

  Geo Method

  $200,643

• Alternative Use

  Use

  Valuation

  Residential

  $510,646

  Hospitality

  $467,749

  Educational

  $389,161

  Medical

  $402,545

  Retail

  $605,362

Location Insight

City

Saint Clair Shores

County

Macomb

State

Michigan

Latitude

42.4678

Longitude

-82.8883

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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