18203 10 Mile RdSouthfield, MI 48075

Property Details for 18203 10 Mile Rd

Year built

1965

Lot size

2.58 AC

Property size (Sq ft)

27,760 SF

Zone code

B-2

Property type

Retail properties

Property subtype

Community centers

APN

76-24-26-226-002

APU

762426226002

Description

This exceptional retail opportunity presents a fully vacant, 8,800 square foot neighborhood center situated on a 2.53-acre lot at 18203-18235 West Ten Mile Road in Southfield, Michigan. The property, zoned B-1, boasts a prime location with excellent visibility and accessibility, conveniently situated near Southfield Road. Built in 1965 and renovated in 2003, the single-story building offers flexible space options, with a minimum divisible unit of 2,600 square feet and a maximum contiguous space of 6,200 square feet. Ample parking is provided with 162 spaces available for customers and employees. The property is located within the Southfield S of 10 Mile submarket in Oakland County, Michigan, and features a convenient address with easy access to major thoroughfares. This versatile space is ideal for a variety of retail or restaurant uses, presenting a unique chance to establish a thriving business in a well-established area. The property's location in Oakland County, MI, zip code 48075, offers a strong demographic profile and significant foot traffic. The building's single-story design and ample parking ensure convenient access for customers. This is a rare opportunity to lease a substantial retail space in a desirable location. The property's size and layout offer significant flexibility for potential tenants.

• CAP approach

  CAP return

  Valuation

  6%

  $6,985,700

  6.5%

  $6,448,339

  7%

  $5,987,744

• Comparable approach

  Method

  Valuation

  Relative Method

  $6,543,610

  Geo Method

  $6,543,610

• Alternative Use

  Use

  Valuation

  Residential

  $5,439,415

  Hospitality

  $4,982,475

  Educational

  $4,145,361

  Medical

  $4,287,926

  Retail

  $6,448,339

Location Insight

City

Southfield

County

Oakland

State

Michigan

Latitude

42.4729

Longitude

-83.2227

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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