22440 Plymouth Rd Redford, MI 48239-1321
- Motels
- 6,359 SF
- 0.17 lot acres
Current Use by Public Records
- Royal Budget Inn / Motel
Property Details for 22440 Plymouth Rd
- Year built
- 1954
- Lot size
- 0.17 lot acres
- Property size
- 6,359 SF
- Zone code
- B4
- Property type
- Motels
- APN
- 22005572-4
- APU
- 220055724
Description
This fee-simple motel, located at 22440 Plymouth Rd, Redford Charter Township, MI 48239, presents a compelling investment opportunity. Built in 1952, this single-story, 21-key property sits on a 0.61-acre lot and offers significant upside potential. The motel benefits from its strategic location less than a mile from US Route 24 and within easy reach of Detroit Metropolitan Wayne County Airport (under 15 miles). Its position in the Detroit-Warren-Dearborn MSA, a major economic hub, ensures access to a high-demand market fueled by industries like healthcare, technology, and automotive. Nearby corporate giants such as Ford and General Motors, along with numerous educational institutions (Wayne State University, University of Michigan-Dearborn), and healthcare facilities (Garden City Hospital, Corewell Health Dearborn Hospital) provide a consistent stream of potential guests. Leisure attractions, including Fairlane Town Center, the Henry Ford Museum, and several parks, further enhance the property's appeal. The motel's proximity to major interstates allows for easy access to Detroit, Flint, and Toledo. With potential for operational enhancements and property upgrades, this asset offers significant room to elevate the guest experience, boost occupancy, and increase the average daily rate (ADR). Cosmetic improvements and modernized amenities will leverage the prime location, driving revenue growth and asset appreciation. The asking price is $1,050,000.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $205,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $285,000
- 6.5%
- $295,000
- 7%
- $275,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $280,000
- Geo Method
- $295,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $265,000
- Retail
- $245,000
- Mixed-Use
- $250,000
- Hospitality
- $235,000
- Educational
- $275,000
- Residential Income
- $265,000
- Energy
- $300,000
- Income-Based Land
- $305,000
- Food Service
- $295,000
Location Insight
- Map
- Local Demand
- City
- Redford
- County
- Wayne
- State
- Michigan
- Longitude
- -83.2617
- Latitude
- 42.3719
- CBSA code
- 19820
- CBSA name
- DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
