13400 8th Mile Rd Oak Park, MI 48237-3244
This 1.2-acre commercial land parcel in Oak Park, Michigan, presents a unique investment opportunity. Situated at 13400 Eight Mile Rd, 48237, this single-tenant property boasts a prime location on a hard-signalized intersection in Oakland County. The approved plan for a full-service car wash ensures a clear path to development, capitalizing on the exceptional visibility and high volume of customer traffic. The property's location offers significant advantages for businesses seeking high exposure and convenient access. The 1.2-acre lot size provides ample space for construction and operation. This land lease opportunity is ideal for investors seeking a strong return on investment in a high-demand area. The property's strategic placement at a busy intersection guarantees significant daily traffic exposure, making it an attractive proposition for a variety of commercial ventures. Detailed site plans for the approved car wash are available upon request. This is a rare chance to acquire a well-positioned commercial property in a thriving Michigan market. Don't miss this chance to secure a prime location for your next business venture.
B-1 neighborhood business. The B-1 neighborhood business districts are intended to meet the day-to-day convenience shopping and service needs of persons residing in nearby residential areas. b. B-2 general business. The B-2 general business districts are intended to accommodate more intensive businesses that cater to a larger consumer market than those typic…
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
B-1 · Oak Park, MIB-1 neighborhood business. The B-1 neighborhood business districts are intended to meet the day-to-day convenience shopping and service needs of persons residing in nearby residential areas. b. B-2 general business. The B-2 general business districts are intended to accommodate more intensive businesses that cater to a larger consumer market than those typically found in neighborhood business districts. B-2 uses are generally characterized by an integrated or planned cluster of establishments served by a common parking lot. c. O office. The O districts are intended to accommodate uses such as offices, banks, personal services, and a limited amount of retail. The O districts can serve as a transition between residential uses and more intensive uses and transportation corridors. d. PTRED planned, technical, research, education development. The planned technical, research, education development districts are intended to accommodate research, technical, medical and educational activities which serve the needs of nearby regional establishments. The primary characteristic of uses allowed in this district is the pursuit of technical knowledge to serve the needs generated by those endeavors. Uses in this district shall be developed on larger parcels of land in a "campus-like" setting that creates a physical atmosphere of low-rise buildings accented with substantial landscaping. e. PCD planned corridor development. The planned corridor development districts are designed to provide for a variety of retail and service establishments in business areas abutting major thoroughfares and so located and planned as to provide convenient customer parking, store servicing and pedestrian traffic movement within the business district and with a minimum of conflict with traffic on abutting streets. To assure optimum site planning relationships and minimum internal and external traffic conflict, each use will be reviewed as it relates to its site and abutting sites and as it relates to the entire district and abutting districts. This type of district is further created so as to provide a zone of transition between residential districts and major thoroughfares or expressways. f. MX-1 mixed-use. The MX-1 mixed-use district is intended to blend two or more residential, commercial, or industrial uses in a compact area. This type of zoning is designed to accommodate mixed-use buildings that have business uses on the first floor and residential uses on the above floor(s).
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
