34420 8 Mile RdFarmington Hills, MI 48335

Property Details for 34420 8 Mile Rd

Year built

1998

Lot size

1.47 AC

Property size (Sq ft)

7,034 SF

Zone code

BI

Property type

Retail properties

Property subtype

Retail space

APN

22-23-33-376-066

APU

222333376066

Description

This Farmington Hills, MI retail property, located at 34420 Eight Mile Rd, offers 5,500 square feet of vacant space in a 7,023 square foot strip center. The property boasts a prime location on the northwest corner of Eight Mile Road and Gill Road, ensuring excellent visibility and accessibility. With a total of 58 parking spaces, ample customer parking is readily available. The 1.56-acre lot (67,898 square feet) provides significant space and potential for expansion. Situated in Oakland County, this well-established retail building benefits from its location near the heart of the Farmington Hills business district and enjoys landmark recognition within the community. The property is ideal for businesses seeking high visibility and convenient access for customers. The building has been a retail staple in the community for years, offering established brand recognition and opportunities for engaging signage. This is a unique opportunity to establish or expand your business in a thriving commercial area. The zip code is 48335.

• CAP approach

  CAP return

  Valuation

  6%

  $1,770,080

  6.5%

  $1,633,920

  7%

  $1,517,211

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,658,060

  Geo Method

  $1,658,060

• Alternative Use

  Use

  Valuation

  Residential

  $1,378,272

  Hospitality

  $1,262,490

  Educational

  $1,050,377

  Medical

  $1,086,501

  Retail

  $1,633,920

Location Insight

City

Farmington

County

Oakland

State

Michigan

Latitude

42.441

Longitude

-83.3858

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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