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844 N Wayne Rd Westland, MI 48185

Retail space Google Maps
2,718 SF 0.26 ac lot Built 1991
Individually Owned Free & Clear
Estimated value (blended)
$370k
Range $333k – $407k (±10%)
Property ID US43-1219756

Property summary

AI-generated overview

This exceptional 2,718 square foot industrial building, situated on a 0.26-acre lot at 844 N WAYNE in Westland, MI, presents a remarkable investment opportunity. Currently configured as a bakery, this property benefits from high visibility due to its main road exposure and prominent monument signage. The building features high ceilings throughout, providing ample space and a sense of openness. A fully equipped kitchen, complete with a hood system, is already in place, offering significant potential for food-related businesses or adaptable to other uses. The property also boasts a recently repaved parking lot, ensuring convenient access and ample parking for customers and employees. The location is ideal, nestled in a prime business area with a high concentration of residential properties, guaranteeing a strong customer base. This versatile space is perfect for a variety of businesses, from a bakery or restaurant to a retail store or other industrial uses. The sale of the property does not include the existing business. This is a rare chance to acquire a well-maintained, highly visible property in a thriving Westland neighborhood. The property's features and location combine to create an exceptional opportunity for a discerning buyer.

Property profile

Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1991
Total area 2,718 SF
Lot 0.26 ac (11,326 SF)
APN 56 043 01 0182 000
UPID US43-1219756

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Wedding Service Bakery

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$370k

Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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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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