Property profile

23756 Michigan Ave Dearborn, MI 48124

FOR LEASE
Office buildings
Property ID
US43-0364446
13,422 SF 0.12 ac lot Built 2002
Entity Owned 4-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional three-story, 13,422 square foot Class C office building, constructed in 2004, presents a unique opportunity in the thriving West Dearborn business district. Located at 23756 Michigan Avenue, this property boasts a highly desirable location near a variety of retail, medical, dining, and entertainment options, ensuring convenient access for both employees and clients. The building is zoned BB - Community Business District, offering flexibility for a range of businesses. The property features ample parking with 50 spaces available, and convenient elevator access across all three floors. Currently, there is 8,990 square feet of vacant space available, divisible into units as small as 100 square feet, with a maximum contiguous space of 4,528 square feet. This allows for significant flexibility to accommodate businesses of various sizes and needs. The lot size is 8,890 square feet. The building's multiple tenancy structure provides a diverse and vibrant atmosphere. This is an excellent opportunity to establish a presence in a high-demand area with strong potential for growth. The property's Wayne County location (APN: 82-09-213-01-104) and Dearborn, MI 48124 zip code offer easy access to major transportation routes. This is a turnkey solution for businesses seeking a modern and well-located office space.

Property profile

Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 2002
Total area 13,422 SF
Lot 0.12 ac (5,227 SF)
Zoning code BB
APN 82 09 213 01 104
UPID US43-0364446

Cap rate & NOI

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

Current use

Occupant on record · Public records
  • Loan Service Bank
  • Law Firm Financial Advisor
  • Insurance Agency
  • Title Company
  • Landscaping General Contractor

Location

23756 Michigan Ave Dearborn, MI 48124
Dearborn metro Census 574900 DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$1.37M
Blend (final) Blend
$515k

Owner & transaction history

since 2022
5 recorded transactions
2022
Price N/A
2017
Price N/A
2015
$900,000
2004
Price N/A
1969
Price N/A

Zoning & alternative use

BB · Dearborn, MI
Zoning description

SIDENTIAL PRESERVATION DISTRICT ARTICLE 12.00 - R-C, R-D, AND R-E MULTIPLE FAMILY RESIDENTIAL DISTRICTS[1] ARTICLE 13.00 - O-S, BUSINESS OFFICE DISTRICT[1] ARTICLE 14.00 - B-A, LOCAL BUSINESS DISTRICT[1] ARTICLE 15.00 -…

General category COMMERCIAL

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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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