37415 Cherry Hill Rd Westland, MI 48186
- Grocery and convenience stores
- 2,562 SF
- 0.58 lot acres
Current Use by Public Records
- Grocery and convenience stores
Property Details for 37415 Cherry Hill Rd
- Year built
- 1974
- Lot size
- 0.58 lot acres
- Property size
- 2,562 SF
- Property type
- Grocery and convenience stores
- APN
- 56 053 99 0020 001
- APU
- 56053990020001
Description
This exceptional 2,562 square foot commercial building sits on a 0.58-acre lot in the desirable Westland, MI area. Its prime location offers unparalleled accessibility and visibility for a wide range of businesses. Previously utilized as a multi-purpose space, including a grocery store, retail shop, and venue for children's parties and fitness classes, this property demonstrates remarkable adaptability. The building's flexible layout and ample square footage provide significant opportunities for customization to suit diverse operational needs. The commercial-light industrial zoning allows for a variety of uses, including but not limited to office space, retail establishments, and light industrial operations. This presents a unique chance to acquire a well-situated property with a proven track record of successful commercial ventures. The building's history showcases its versatility and resilience, making it an attractive investment for entrepreneurs and established businesses alike. Its strategic location within Westland ensures high foot traffic and easy access to major transportation routes, maximizing exposure and convenience. The 0.58-acre lot offers ample parking and potential for future expansion or outdoor amenities. This is a rare opportunity to secure a versatile and well-positioned commercial property in a thriving Westland community. The asking price of $398,900 reflects the property's significant potential and prime location. Serious inquiries are encouraged.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $225,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $235,000
- 6.5%
- $235,000
- 7%
- $250,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $215,000
- Geo Method
- $230,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $260,000
- Retail
- $245,000
- Mixed-Use
- $245,000
- Hospitality
- $270,000
- Educational
- $215,000
- Residential Income
- $270,000
- Energy
- $210,000
- Income-Based Land
- $270,000
- Food Service
- $245,000
Location Insight
- Map
- Local Demand
- City
- Westland
- County
- Wayne
- State
- Michigan
- Longitude
- -83.409
- Latitude
- 42.3093
- CBSA code
- 19820
- CBSA name
- DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA