2388 Cole StBirmingham, MI 48009

Property Details for 2388 Cole St

Year built

1962

Lot size

0.50 AC

Property size (Sq ft)

16,044 SF

Zone code

II

Property type

Super regional malls

APN

08-20-31-402-002

APU

82031402002

Description

This exceptional 5,030 square foot commercial space, located at 2388 Cole Street in Oakland County's vibrant Rail District, presents a unique investment opportunity. The property is a single-tenant building offering a flexible layout ideal for various uses, including traditional, medical, creative, or executive office space, as well as retail. The building's total square footage is 20,062 square feet, with 5,030 square feet currently vacant and ready for immediate occupancy. The vacant space is strategically divided across two floors: a first-floor area of 850 square feet and a larger second-floor area of 4,180 square feet. Previously occupied by a salon, the space boasts a modern, industrial aesthetic featuring open ceilings, providing a blank canvas for customization to suit a wide range of business needs. The Rail District itself is a dynamic and revitalized area in the heart of Birmingham, blending historic charm with contemporary appeal, making it an attractive location for businesses seeking a blend of character and modern amenities. This property offers a rare opportunity to establish a presence in a thriving and sought-after neighborhood. The property type is listed as Retail and Office.

• CAP approach

  CAP return

  Valuation

  6%

  $4,719,608

  6.5%

  $4,356,562

  7%

  $4,045,378

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,781,904

  Geo Method

  $3,781,904

• Alternative Use

  Use

  Valuation

  Residential

  $3,674,922

  Hospitality

  $3,366,209

  Educational

  $2,800,646

  Medical

  $2,896,965

  Retail

  $4,356,562

Location Insight

City

Birmingham

County

Oakland

State

Michigan

Latitude

42.5401

Longitude

-83.191

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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