28315 Grand Riv Ave Farmington Hills, MI 48336-5818
- Retail space
- 2,755 SF
- 0.23 lot acres
Current Use by Public Records
- Retail space
Property Details for 28315 Grand Riv Ave
- Year built
- 1968
- Lot size
- 0.23 lot acres
- Property size
- 2,755 SF
- Zone code
- BI
- Property type
- Retail space
- APN
- 22-23-36-452-001
- APU
- 222336452001
Description
This exceptional 2,755 square foot freestanding retail and office building is situated on Grand River Avenue in Farmington Hills, Michigan, offering a high-visibility location with excellent traffic counts. The property boasts 11 dedicated parking spaces, a significant advantage in this area. Its single-story design provides convenient access and functionality. The building is available for sale or lease. This Grand River corridor location presents a unique opportunity, with potential eligibility for a site improvement reimbursement grant of up to $30,000. The property benefits from high daily traffic volume, exceeding 38,000 vehicles on Grand River Avenue. Its proximity to Beaumont Hospital Farmington Hills further enhances its appeal and accessibility. Strategically located just west of the Grand River and 8 Mile Road intersection, and on the south side of Grand River Avenue, just north of 8 Mile Road, this property offers unparalleled convenience and exposure. The property is located in Oakland County, Michigan, with a zip code of 48336.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $340,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $420,000
- 6.5%
- $460,000
- 7%
- $425,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $470,000
- Geo Method
- $470,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $540,000
- Retail
- $440,000
- Mixed-Use
- $540,000
- Hospitality
- $400,000
- Educational
- $555,000
- Residential Income
- $515,000
- Energy
- $515,000
- Income-Based Land
- $445,000
- Food Service
- $455,000
Location Insight
- Map
- Local Demand
- City
- Farmington Hills
- County
- Oakland
- State
- Michigan
- Longitude
- -83.3264
- Latitude
- 42.4436
- CBSA code
- 19820
- CBSA name
- DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
