1055 9 Mile RdHazel Park, MI 48030

Property Details for 1055 9 Mile Rd

Year built

2006

Lot size

0.23 AC

Property size (Sq ft)

3,100 SF

Zone code

BI

Property type

Retail space

APN

28-25-25-379-046

APU

282525379046

Description

This exceptional Hazel Park, Michigan retail investment opportunity presents a 3,607 square foot building situated on a 0.23-acre lot at 1055 E 9 Mile Rd, zip code 48030. The property, categorized as a shopping center, offers two separate units, providing flexibility for diverse retail uses. Located in Oakland County, its prime position on E 9 Mile Road ensures high visibility and accessibility, maximizing business potential. The asking price is $400,000, representing a price per square foot of $110.90 and a 7.45% capitalization rate. The property benefits from its location within a vibrant commercial district, close to the Hazel Park Raceway and other popular dining, shopping, and entertainment venues. This strong retail environment, coupled with the property's size and layout, makes it an attractive investment for those seeking a versatile and well-positioned retail space in a thriving community. The property's high visibility and accessibility, combined with the area's supportive atmosphere for local businesses, present a compelling opportunity for growth and success. This is an ideal investment for savvy investors looking to capitalize on the potential of this dynamic commercial corridor.

• CAP approach

  CAP return

  Valuation

  6%

  $947,789

  6.5%

  $874,883

  7%

  $812,391

• Comparable approach

  Method

  Valuation

  Relative Method

  $730,734

  Geo Method

  $730,734

• Alternative Use

  Use

  Valuation

  Residential

  $737,996

  Hospitality

  $676,001

  Educational

  $562,424

  Medical

  $581,767

  Retail

  $874,883

Location Insight

City

Hazel Park

County

Oakland

State

Michigan

Latitude

42.4618

Longitude

-83.0951

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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