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    FOR SALE
    Office buildings

    58540 Van Dyke Ave, Washington, MI 48084

    5,008 SF 0.11 ac lot Built 1900
    Entity Owned 6-yr Hold ~ Est. High Equity
    Property ID
    US43-1067819
    Property summary
    AI-generated overview

    This meticulously renovated 6,200 square foot industrial building, located at 58540 Van Dyke in Washington, MI, presents a unique investment opportunity. Originally constructed in 1900, this three-story structure, known as the Weir Block Building or the Johnson Thermol Temp building, has been completely renovated from the studs, seamlessly blending its historic character with modern functionality. The building offers up to 15 separate commercial spaces, each designed for flexibility and adaptable to various business needs. These spaces can be leased individually or combined for larger tenants, creating a dynamic environment for diverse enterprises. Accessibility is a key feature, with most spaces fully handicap accessible, including ramps and designated parking. Exterior features include convenient access via a traffic signal and heated snow melt walkways and patios, minimizing winter maintenance. Security is enhanced by an updated system including auto door locks and surveillance cameras. This property offers a rare combination of historic charm and modern amenities in a prime Washington Township location, on a 0.22-acre lot.

    Property profile
    Verified
    Property type Office buildings
    Use group OFFICE BUILDING
    Year built 1900
    Total area 5,008 SF
    Lot 0.11 ac (4,922 SF)
    Zoning code V1
    APN 24-04-34-151-002
    UPID US43-1067819
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    $667k
    Blend (final) Blend
    $665k
    Owner & transaction history
    Washington Investment Corp · 6 yrs held
    Washington Investment Corp
    since 2019
    1 recorded transaction
    2019
    Zoning & alternative use
    V1 · Washington, MI
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
    Top alternative use upside
    Restaurant $710,000 +49.5%
    Medical building $615,000 +29.6%
    Retail stores $520,000 +10.0%
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    “Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
    More about this property
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