1529 Wayne Rd Westland, MI 48186-5436
- Strip malls
- 21,868 SF
- 1.76 lot acres
Current Use by Public Records
- Strip malls
Property Details for 1529 Wayne Rd
- Year built
- 1958
- Lot size
- 1.76 lot acres
- Property size
- 21,868 SF
- Property type
- Strip malls
- Property subtype
- Neighborhood centers
- APN
- 56 063 02 0007 000
- APU
- 56063020007000
Description
Ace Plaza, located at 1529 S Wayne Rd, Westland, MI 48186, presents a compelling value-add opportunity for investors. This single-story, 21,819 square foot retail center, built in 1958, sits on a 1.76-acre lot and boasts 320 feet of frontage on Wayne Road. The property features 10,275 square feet of net rentable space, currently generating income, with significant upside potential through renovations and lease-up. The asking price is $1,650,000, translating to $75.62 per square foot. The property is zoned CB1 and includes 111 parking spaces, catering to both tenants and customers. Its location within a densely populated neighborhood, alongside a mix of national and regional tenants, ensures a strong retail trade area. The property's APN is 56-063-02-0007-000. This is an exceptional chance to acquire a well-situated retail center with substantial growth potential in a thriving Michigan market.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Westland
- County
- Wayne
- State
- Michigan
- Longitude
- -83.3876
- Latitude
- 42.2975
- CBSA code
- 19820
- CBSA name
- DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
