15615 10 Mile RdEastpointe, MI 48021
- Office buildings
- 800 SF
Property Details for 15615 10 Mile Rd
- Year built
- 1956
- Construction
- CONCRETE BLOCKS
- Lot size
- 0.05 AC
- Property size (Sq ft)
- 800 SF
- Zone code
- B-3
- Property type
- Office buildings
- APN
- 02-14-19-381-006
- APU
- 21419381006
Description
This exceptional 800-square-foot industrial building in Eastpointe, Michigan, presents a compelling investment opportunity. Located at 15615 E 10 Mile Rd, this property sits on a 0.05-acre lot and is currently generating income from an existing business operation. The Green Zone designation allows for a variety of commercial uses, providing flexibility for the new owner. A significant advantage is the current owner's willingness to negotiate a leaseback agreement, ensuring a steady income stream upon acquisition. This provides immediate cash flow and the potential for long-term rental income. Adding to the property's value is the inclusion of an additional lot at 15607 E 10 Mile Rd (Tax ID #1419381005), offering significant expansion possibilities or the potential for future development. The asking price for this turnkey operation is $226,000. This property is ideal for investors seeking a blend of immediate income and future growth potential in a desirable Eastpointe location. The combination of a stable existing business and the extra lot makes this a truly unique and attractive investment opportunity.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $166,388
- 6.5%
- $153,589
- 7%
- $142,619
-
Comparable approach
- Method
- Valuation
- Relative Method
- $74,832
- Geo Method
- $74,832
-
Alternative Use
- Use
- Valuation
- Residential
- $190,451
- Hospitality
- $174,452
- Educational
- $145,142
- Medical
- $150,133
- Retail
- $225,776
Location Insight
- City
- Eastpointe
- County
- Macomb
- State
- Michigan
- Latitude
- 42.4799
- Longitude
- -82.9604
- CBSA code
- 19820
- CBSA name
- DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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