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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
More about this property
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