9506 Michigan AveDetroit, MI 48210
- Retail properties
- 3,106 SF
Property Details for 9506 Michigan Ave
- Year built
- 1966
- Lot size
- 0.28 AC
- Property size (Sq ft)
- 3,106 SF
- Zone code
- B4
- Property type
- Retail properties
- Property subtype
- Turn key restaurants
- APN
- 20004611-4
- APU
- 200046114
Description
This exceptional 3,106 sq. ft. commercial property, located at 9506 Michigan Ave in Detroit, MI, sits on a 0.28-acre corner lot at the intersection of Michigan Avenue and Wyoming. Built in 1966 and extensively renovated in 2022, this Class A building offers a single tenancy and features a fully equipped kitchen, high-quality lighting, and a sound system. The property includes 20 parking spaces, providing ample convenience for customers and employees. Its prime location offers exceptional visibility and accessibility, situated conveniently off I-94. Previously used as a topless bar, this property presents a unique redevelopment opportunity for a variety of uses, including retail, restaurant, or special purpose ventures. The sale includes the building and land only
Valuation
by Realmo methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $949,624
- 6.5%
- $876,576
- 7%
- $813,963
-
Comparable approach
- Method
- Valuation
- Relative Method
- $732,149
- Geo Method
- $732,149
-
Alternative Use
- Use
- Valuation
- Residential
- $739,425
- Hospitality
- $677,309
- Educational
- $563,513
- Medical
- $582,893
- Retail
- $876,576
Location Insight
- City
- Detroit
- County
- Wayne
- State
- Michigan
- Latitude
- 42.3283
- Longitude
- -83.1562
- CBSA code
- 19820
- CBSA name
- DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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