24831 John R RdHazel Park, MI 48030

Property Details for 24831 John R Rd

Year built

1965

Lot size

0.18 AC

Property size (Sq ft)

1,500 SF

Zone code

BI

Property type

Retail properties

APN

28-25-26-232-046

APU

282526232046

Description

This exceptional 1,500 square foot single-tenant office building is ideally situated on John R Road, just south of 10 Mile Road in Oakland County. Its convenient location offers unparalleled visibility and accessibility for businesses seeking a prominent presence. The property is zoned for both office and retail use, providing flexibility for a variety of commercial ventures. The building itself boasts ample parking directly in front, ensuring convenient access for employees and clients. The "Local Business" zoning designation presents an excellent opportunity for a wide range of businesses to thrive in this high-traffic area. The building's size makes it perfect for a small business looking for a dedicated space or a larger business seeking a satellite office. The property's excellent visibility on John R Road guarantees significant exposure to potential customers. This is a rare opportunity to acquire a well-located, versatile commercial property in a thriving Oakland County market. The building's single-tenant occupancy offers simplicity and control for the owner. The ample parking further enhances the property's appeal and practicality. This is a turn-key opportunity for a business seeking a ready-to-occupy space with high visibility and convenient access. The property's location and zoning make it a highly desirable asset for both established and emerging businesses. Consider this prime location and the flexibility of the zoning to create a successful business venture.

• CAP approach

  CAP return

  Valuation

  6%

  $458,608

  6.5%

  $423,330

  7%

  $393,092

• Comparable approach

  Method

  Valuation

  Relative Method

  $353,581

  Geo Method

  $353,581

• Alternative Use

  Use

  Valuation

  Residential

  $357,095

  Hospitality

  $327,097

  Educational

  $272,141

  Medical

  $281,500

  Retail

  $423,330

Location Insight

City

Hazel Park

County

Oakland

State

Michigan

Latitude

42.4752

Longitude

-83.1049

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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