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    Property profile & analytics

    35150 Michigan Ave Wayne, MI 48184-1614

    • Office buildings
    • 14,400 SF
    • 0.29 lot acres
    OFF-MARKET
    Value Estimation
    $500,000
    Last Sale
    May 08, 2025
    Location Intelligence
    Property ID
    US43-1350715
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Office buildings

    Property Details for 35150 Michigan Ave

    Year built
    1962
    Lot size
    0.29 lot acres
    Property size
    14,400 SF
    Property type
    Office buildings
    APN
    55 003 11 0097 001
    APU
    55003110097001

    Description

    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.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $510,000

    • CAP approach

      CAP return
      Estimation
      6%
      $555,000
      6.5%
      $535,000
      7%
      $470,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $575,000
      Geo Method
      $480,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $465,000
      Retail
      $470,000
      Mixed-Use
      $610,000
      Hospitality
      $560,000
      Educational
      $495,000
      Residential Income
      $610,000
      Energy
      $440,000
      Income-Based Land
      $505,000
      Food Service
      $560,000

    Location Insight

    • Map
    • Local Demand
    City
    Wayne
    County
    Wayne
    State
    Michigan
    Longitude
    -83.3848
    Latitude
    42.2828
    CBSA code
    19820
    CBSA name
    DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $21,689
    $0.00
    $0.00
    $320,500
    -
    $0.00
    $0.00
    $641,000

    Comparable in this City

    • Value Estimation by Request
      6,350 SF

      34646 Sims St

      OFFICE BUILDING • 6,350 SF
      34646 Sims St, Wayne, MI 48184-1389
      View Details
    • Value Estimation by Request
      1,584 SF

      33429 Michigan Ave

      OFFICE BUILDING • 1,584 SF
      33429 Michigan Ave, Wayne, MI 48184-1845
      View Details
    • Value Estimation by Request
      7,632 SF

      35100 Michigan Ave

      OFFICE BUILDING • 7,632 SF
      35100 Michigan Ave, Wayne, MI 48184-3698
      View Details
    • Value Estimation by Request
      1,792 SF

      34905 Michigan Ave

      OFFICE BUILDING • 1,792 SF
      34905 Michigan Ave, Wayne, MI 48184-1743
      View Details
    • Value Estimation by Request
      26,770 SF

      3850 2nd St

      OFFICE BUILDING • 26,770 SF
      3850 2nd St, Wayne, MI 48184-1775
      View Details
    • Value Estimation by Request
      2,778 SF

      36040 Michigan Ave

      OFFICE BUILDING • 2,778 SF
      36040 Michigan Ave, Wayne, MI 48184-1671
      View Details

    Similar Nearby for Sale

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    • New
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    Similar Nearby for Lease

    • $399 /Mo

      Freestanding Office Building For Lease

      Office building with high visibility and ample parking available for lease.
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    • Contact for pricing
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    • $2,500 /Mo
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      Move-In Ready Office Space

      2,000 SF office space with ample parking and signage.
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    • $12 SF/Yr
      23,264 SF

      Prime Wayne County Office Space

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    • $12 SF/Yr
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      Downtown Wayne Office Space Available

      Well-maintained office complex with Michigan Avenue frontage in Downtown Wayne.
      35100 E Michigan Ave, Wayne, MI 48184
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    35150 Michigan Ave
    Wayne, MI 48184-1614
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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