11318 Woodward Ave Detroit, MI 48202-1102
- Retail space
- 3,220 SF
- 0.33 lot acres
Current Use by Public Records
- Goodfellas wear / Clothing Store
Property Details for 11318 Woodward Ave
- Year built
- 1947
- Lot size
- 0.33 lot acres
- Property size
- 3,220 SF
- Zone code
- B4
- Property type
- Retail space
- APN
- 01004364-5
- APU
- 10043645
Description
This exceptional 3,800 square foot executive office building, located at 11318 Woodward Avenue in Detroit, Michigan, presents a compelling investment opportunity. The Class C property sits on a 0.33-acre lot and boasts 100% occupancy, generating an annual income of $66,000 with a 5% annual increase built in. The building features a newly renovated interior and a convenient 17-space surface parking lot. Its strategic location between I-75 and the John C. Lodge Freeway ensures excellent accessibility, with high traffic volume exceeding 15,000 vehicles daily. The property benefits from proximity to national retailers such as Sherwin Williams, AutoZone, and Family Dollar. The building includes a new HVAC rooftop unit and offers a Walk Score of 82, reflecting its walkability to local amenities. The asking price is $500,000, translating to $131.58 per square foot. With a current monthly lease rate of $3,500 plus utilities, and a substantial population of 141,926 residents within a 3-mile radius, this property offers significant potential for future growth and return on investment. The potential for live/work space adds further versatility. This is a rare opportunity to acquire a well-located, high-performing office building in a thriving Detroit neighborhood.
Value Estimations
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Detroit
- County
- Wayne
- State
- Michigan
- Longitude
- -83.0865
- Latitude
- 42.3907
- CBSA code
- 19820
- CBSA name
- DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
