25708 Michigan AveDearborn Heights, MI 48125

Property Details for 25708 Michigan Ave

Year built

1959

Lot size

0.70 AC

Property size (Sq ft)

7,029 SF

Zone code

C-1

Property type

Retail properties

Property subtype

Outlet malls

APN

33 036 02 0057 002

APU

33036020057002

Description

This single-tenant, 7,200 square foot office building at 25708 Michigan Ave in Dearborn Heights, MI 48125, presents a unique investment opportunity. Built in 1959 and renovated in 2015, the property boasts a prime location at a busy intersection directly across from a high-traffic Home Depot, ensuring excellent visibility and foot traffic. Its proximity to the local police station and courthouse provides a secure and desirable environment for various businesses. The building's history as a rental space adds to its versatility. Furthermore, the planned development of an adjacent retail plaza and car wash promises increased customer flow and synergistic opportunities for future tenants. This one-story building offers a traditional office layout, suitable for medical or creative office uses as well. The property's strategic location and the potential for increased foot traffic from neighboring developments make it an attractive option for businesses seeking a high-visibility location in a thriving commercial area. The single-tenant occupancy provides flexibility and control for the owner. This is an exceptional opportunity to acquire a well-located, renovated office building with significant growth potential.

• CAP approach

  CAP return

  Valuation

  6%

  $1,768,822

  6.5%

  $1,632,758

  7%

  $1,516,133

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,656,882

  Geo Method

  $1,656,882

• Alternative Use

  Use

  Valuation

  Residential

  $1,377,293

  Hospitality

  $1,261,593

  Educational

  $1,049,630

  Medical

  $1,085,729

  Retail

  $1,632,758

Location Insight

City

Dearborn Heights

County

Wayne

State

Michigan

Latitude

42.2976

Longitude

-83.29

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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