35150 Michigan Ave, Wayne, MI 48184-1614
This exceptional 14,400-square-foot retail building, located at 35150 W. Michigan Ave in Wayne, Michigan (zip code 48184), presents a unique investment opportunity. Built in 1962, this single-building property boasts a desirable B-4 zoning, allowing for flexible office or retail use. The building features a striking two-story lobby atrium, a full basement, a spiral staircase, nine offices, a conference room, six restrooms, a break room, and ample storage areas. Its former use as a bank provides unique features including teller desks, a vault, a security system, and fireproof cabinets. The property includes 10 on-site parking spaces, supplemented by convenient free municipal parking. Situated in downtown Wayne, west of Detroit, between South Wayne and Newberry Street, this location benefits from high traffic volume and proximity to numerous retail, entertainment, and dining establishments. The building's beautiful floor plan and convenient location near public transportation make it an ideal space for a variety of businesses. The asking price is $650,000, translating to $45.14 per square foot.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.