11666 WoodbineRedford, MI 48239

Property Details for 11666 Woodbine

Year built

1951

Construction

CONCRETE BLOCKS

Lot size

0.23 AC

Property size (Sq ft)

2,360 SF

Property type

Retail properties

Property subtype

Bars

APN

79 036 01 0191 000

APU

79036010191000

Description

This exceptional commercial property, located at 11666 Woodbine in Redford, Michigan, presents a unique investment opportunity. The 2,360 square foot building is constructed of durable cinder block and sits on a sizable 0.23-acre lot (128x127 feet). Its strategic location offers significant advantages, boasting two entrances, one of which directly faces Telegraph Road, a major thoroughfare. The property's proximity to Plymouth Road further enhances its visibility and accessibility. The potential for a drive-thru is available, subject to approval from the Michigan Department of Transportation (MDOT). The diverse range of potential uses for this property is considerable, including retail, food service (such as pizza), party stores, or office space. This location benefits significantly from its adjacency to the former GM Diesel Plant, which has recently announced a substantial $285 million expansion project. This expansion is expected to bring increased traffic and economic activity to the immediate area, making this property an even more attractive investment. Please note that a liquor license is not included in the sale price of $375,000. This is a rare opportunity to acquire a well-situated commercial property in a rapidly developing area.

• CAP approach

  CAP return

  Valuation

  6%

  $593,885

  6.5%

  $548,202

  7%

  $509,044

• Comparable approach

  Method

  Valuation

  Relative Method

  $556,301

  Geo Method

  $556,301

• Alternative Use

  Use

  Valuation

  Residential

  $462,429

  Hospitality

  $423,582

  Educational

  $352,415

  Medical

  $364,536

  Retail

  $548,202

Location Insight

City

Redford

County

Wayne

State

Michigan

Latitude

42.3724

Longitude

-83.2764

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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