Property summary
This 1,400 square foot executive office building, located at 23908 Michigan Avenue in Dearborn, Michigan, is available for $275,000. The property, built in 1951 and renovated in 1982, is classified as a Class C building and sits on a 0.04-acre lot. It features one story and offers two parking spaces. The zoning is BB. The building's ideal location on Michigan Avenue makes it suitable for a variety of uses, including professional offices, small medical practices, or retail businesses. A significant advantage is the proximity to a large municipal parking lot. This presents a convenient parking solution for clients and employees. Furthermore, an adjacent 1,240 square foot building is also available for purchase, presenting an opportunity for expansion or additional income. The property's price per square foot is $196.43. The Wayne County property's APN is 32-09-213-01-106 and the zip code is 48124. This presents a compelling investment opportunity in a desirable Dearborn location.
Property profile
VerifiedCap rate & NOI
Current use
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Corporate Office
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Alternative Medicine Practice Spa & Massage Center
Location
Value estimations
Owner & transaction history
Zoning & alternative use
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 -…
Comparables
6 recent transactions · within 1.5 miComparable in this City
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Value estimation
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from $99/month
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
from $99/month
Price sensitivity
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Property tax & assessments
Tax year 2023Property description
Physical attributes from public recordsZoning & alternative use
BB · Dearborn, MISIDENTIAL 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 -…
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Official district profile
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 -…
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for BB in Dearborn, MI.
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