801 Adams RdBirmingham, MI 48009

Property Details for 801 Adams Rd

Year built

1960

Lot size

0.32 AC

Property size (Sq ft)

9,902 SF

Zone code

BI

Property type

Retail properties

Property subtype

Parking lots & garages

APN

08-20-31-153-066

APU

82031153066

Description

This exceptional investment opportunity presents a fully occupied, newly renovated two-story office building totaling 10,159 square feet, situated on a highly visible 0.33-acre corner lot in Birmingham, Michigan. The property boasts 30 surface parking spaces, providing ample convenience for tenants and visitors. Recent renovations have significantly enhanced the building's appeal and functionality, including the installation of brand new HVAC units throughout. The parking lot has also undergone a complete refurbishment. Furthermore, both interior and exterior common areas have received comprehensive updates, ensuring a modern and well-maintained environment. The strategic location directly across from a newly constructed 157-unit luxury apartment complex offers significant long-term growth potential and increased visibility. This property is currently fully occupied, generating immediate and consistent rental income. The asking price is $2,995,000. This presents a rare chance to acquire a high-quality, income-producing asset in a prime Birmingham location. Please note: Do not disturb or approach tenants.

• CAP approach

  CAP return

  Valuation

  6%

  $2,491,802

  6.5%

  $2,300,124

  7%

  $2,135,830

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,334,107

  Geo Method

  $2,334,107

• Alternative Use

  Use

  Valuation

  Residential

  $1,940,241

  Hospitality

  $1,777,250

  Educational

  $1,478,651

  Medical

  $1,529,504

  Retail

  $2,300,124

Location Insight

City

Birmingham

County

Oakland

State

Michigan

Latitude

42.5413

Longitude

-83.2051

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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