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    Property profile & analytics
    OFF-MARKET Estimated value $620,000
    Commercial land

    13400 8th Mile Rd, Oak Park, MI 48237-3244

    6,240 SF 1.2 ac lot Built 1964
    Entity Owned 4-yr Hold Absentee Owner Free & Clear
    Property ID
    US43-1685160
    Property summary
    AI-generated overview

    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.

    Property profile
    Verified
    Property type Commercial land
    Use group VACANT COMMERCIAL LAND
    Year built 1964
    Total area 6,240 SF
    Lot 1.2 ac (52,272 SF)
    Zoning code B-1
    APN 52-25-32-351-016
    UPID US43-1685160
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    $735k
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    $498k
    Blend (final) Blend
    $620k
    Owner & transaction history
    Splash City Holdings LLC · 4 yrs held
    Splash City Holdings LLC
    since 2021
    Last sale
    $650,000
    4 recorded transactions
    2021
    $650,000
    2020
    $435,000
    2017
    1969
    Zoning & alternative use
    B-1 · Oak Park, MI
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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