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Property profile

215 Washington Ave Royal Oak, MI 48067

OFF-MARKET
Turn key restaurants
Property ID
US43-0135973
15,682 SF 0.16 ac lot Built 1947
Entity Owned 9-yr Hold Free & Clear

Property summary

AI-generated overview

This exceptional creative office space in Royal Oak, Michigan, offers a unique opportunity for businesses seeking a modern and inspiring workspace. Located at 215 S Washington Ave, this newly constructed building boasts a total of 22,300 square feet, currently entirely vacant and available for lease. The space features stunning loft-style suites with expansive windows that flood the interior with natural light. High ceilings, reaching 12 feet, contribute to an open and airy atmosphere, perfect for fostering creativity and collaboration. The property is ideally suited for a single tenant seeking the entire 22,300 square feet, or it can be divided into smaller spaces, with a minimum divisible unit of 6,100 square feet. Situated in Oakland County, this prime location offers easy access to major transportation routes and a vibrant urban environment. The building's modern design and flexible layout provide an exceptional opportunity to create a customized workspace tailored to specific business needs. This is a build-to-suit opportunity, allowing for potential tenant improvements to further personalize the space. The address is 215 S Washington Ave, Royal Oak, MI 48067. The entire 22,300 square feet is currently available.

Property profile

Verified
Property type Turn key restaurants
Use group RESTAURANT
Year built 1947
Total area 15,682 SF
Lot 0.16 ac (6,752 SF)
Zoning code CBD
APN 72-25-21-232-002
UPID US43-0135973

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$1.56M
Blend (final) Blend
$1.25M

Owner & transaction history

since 2017
3 recorded transactions
2017
$1.2M
2001
Price N/A
1969
Price N/A

Zoning & alternative use

CBD · Royal Oak, MI

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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