28575 Grand River AveFarmington Hills, MI 48336

Property Details for 28575 Grand River Ave

Year built

1960

Lot size

2.76 AC

Property size (Sq ft)

30,838 SF

Zone code

BI

Property type

Retail properties

Property subtype

Retail space

APN

22-23-36-376-018

APU

222336376018

Description

This exceptional mixed-use property, located at 28575 Grand River Avenue in Farmington Hills, Michigan, presents a unique investment opportunity. The property boasts a substantial 8,965 square foot retail space ideally suited for a variety of businesses. In addition to the retail area, a significant 11,003 square foot warehouse is included, providing ample storage or operational space. Three canopies, totaling an additional 7,131 square feet, offer further covered area, perfect for loading, unloading, or customer convenience. The property sits on a prime location with 434 feet of frontage on Grand River Avenue, ensuring high visibility and accessibility. Ample parking is available to accommodate both customers and employees. The B-3 General Business zoning allows for versatile use, making this property adaptable to a wide range of commercial ventures. The asking price for this exceptional property is $1,450,000. This is a rare opportunity to acquire a well-located, versatile commercial property in a thriving Michigan market. The combination of retail space, warehouse capacity, and prominent street frontage makes this an attractive investment for discerning buyers. The property's size and zoning provide significant flexibility for future development and expansion.

• CAP approach

  CAP return

  Valuation

  6%

  $7,760,268

  6.5%

  $7,163,324

  7%

  $6,651,658

• Comparable approach

  Method

  Valuation

  Relative Method

  $7,269,158

  Geo Method

  $7,269,158

• Alternative Use

  Use

  Valuation

  Residential

  $6,042,532

  Hospitality

  $5,534,926

  Educational

  $4,604,994

  Medical

  $4,763,367

  Retail

  $7,163,324

Location Insight

City

Farmington Hills

County

Oakland

State

Michigan

Latitude

42.4442

Longitude

-83.3285

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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