29732 Woodward Ave Royal Oak, MI 48073
- Commercial real estate
- 2,880 SF
- 0.16 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 29732 Woodward Ave
- Year built
- 1974
- Lot size
- 0.16 lot acres
- Property size
- 2,880 SF
- Zone code
- GEN BUS
- Property type
- Commercial real estate
- APN
- 72-25-08-326-025
- APU
- 722508326025
Description
This exceptional 2,880-square-foot retail space is ideally situated on Woodward Avenue in Royal Oak, Michigan, offering unparalleled visibility and accessibility. The single-tenant building, constructed in 1974, boasts a Class B rating and is situated on a 0.16-acre lot. The property features a spacious, open floor plan with high ceilings, providing flexibility for a variety of retail uses. Ample parking is available with 18 spaces total, including 13 dedicated spaces and 5 municipal spaces. The building is well-maintained and benefits from high-visibility signage directly on Woodward Avenue, ensuring strong brand exposure. The property's location within Royal Oak offers access to a robust and desirable demographic, coupled with excellent traffic flow along Woodward Avenue, a major thoroughfare. The property is currently vacant and ready for immediate occupancy. This is a rare opportunity to secure a prime retail location in a thriving Michigan community. The building is a single-story structure. Oakland County location provides access to a strong local economy.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $430,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $485,000
- 6.5%
- $450,000
- 7%
- $415,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $649,000
- AI Estimate
- $616,000
Market price range: $346k - $735kMarket price range: $320k - $735k -
Alternative Use
- Use
- Estimation
- COMMERCIAL (GENERAL)
- $565,000 Current use
- RETAIL STORES
- $485,000 Change: -14% Conversion: Easy
- MEDICAL BUILDING
- $455,000 Change: -20% Conversion: Easy
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Location Insight
- Map
- Local Demand
- City
- Royal Oak
- County
- Oakland
- State
- Michigan
- Longitude
- -83.1773
- Latitude
- 42.5094
- CBSA code
- 19820
- CBSA name
- DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA