29764 Woodward Ave Royal Oak, MI 48073
- Commercial real estate
- 4,000 SF
- 0.16 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 29764 Woodward Ave
- Year built
- 1952
- Lot size
- 0.16 lot acres
- Property size
- 4,000 SF
- Zone code
- GEN BUS
- Property type
- Commercial real estate
- APN
- 72-25-08-326-024
- APU
- 722508326024
Description
This exceptional 4,000-square-foot retail space, located at 29764 Woodward Avenue, presents a unique opportunity for a discerning tenant. Built in 1952 and extensively renovated in 2022, the single-story building boasts a spacious, open floor plan with high ceilings, offering maximum flexibility for a variety of retail uses. The property sits on a 0.16-acre lot and includes ample parking with 13 dedicated spaces supplemented by 5 municipal parking spots, ensuring convenient access for customers and employees. The building's prime location on Woodward Avenue provides exceptional visibility and high traffic counts, guaranteeing strong exposure for your business. The area demographics are robust, promising a substantial customer base. The property's recent renovation ensures a move-in ready condition, eliminating the need for costly upgrades. This is a rare opportunity to secure a well-maintained, highly visible retail space in a thriving commercial area. The open floor plan and high ceilings offer significant design flexibility, allowing for customization to suit your specific business needs. The combination of excellent location, ample parking, and recent renovations makes this property an ideal choice for a variety of retail ventures. Don't miss this chance to establish your business in a prime Woodward Avenue location.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $430,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $675,000
- 6.5%
- $625,000
- 7%
- $580,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $736,000
- AI Estimate
- $698,000
Market price range: $481k - $1.02MMarket price range: $444k - $1.02M -
Alternative Use
- Use
- Estimation
- COMMERCIAL (GENERAL)
- $785,000 Current use
- RETAIL STORES
- $675,000 Change: -14% Conversion: Easy
- MEDICAL BUILDING
- $630,000 Change: -20% Conversion: Easy
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Location Insight
- Map
- Local Demand
- City
- Royal Oak
- County
- Oakland
- State
- Michigan
- Longitude
- -83.1775
- Latitude
- 42.5096
- CBSA code
- 19820
- CBSA name
- DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA