21420 Melrose AveSouthfield, MI 48075

Property Details for 21420 Melrose Ave

Year built

1986

Lot size

1.32 AC

Property size (Sq ft)

15,956 SF

Zone code

I-L

Property type

Retail space

APN

76-24-34-327-031

APU

762434327031

Description

This exceptional 15,956-square-foot industrial property, located at 21420 Melrose Ave in Southfield, Michigan, presents a unique investment opportunity. Situated on a 1.32-acre lot, this single-tenant building boasts a flexible design suitable for various uses, including flex space, warehouse, and R&D. Built in 1986, the property features a 16-foot ceiling height, providing ample vertical space for storage or specialized equipment. The building includes one dock-high door for efficient loading and unloading. Currently configured as a data center, the property is easily de-commissioned to suit a new owner's needs. Significant power is available, with 1,000 amps and 480 volts, making it ideal for power-intensive operations. The warehouse is fully air-conditioned for optimal climate control. The rear lot is fully fenced, offering enhanced security and privacy. The property also includes 3,000 square feet of office space. The asking price is $1,196,700, translating to a price per square foot of $75. This property is zoned for industrial use and is located in Oakland County, Michigan, with a zip code of 48075. The property's location offers convenient access to major transportation routes and amenities.

• CAP approach

  CAP return

  Valuation

  6%

  $4,015,268

  6.5%

  $3,706,401

  7%

  $3,441,658

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,761,161

  Geo Method

  $3,761,161

• Alternative Use

  Use

  Valuation

  Residential

  $3,126,488

  Hospitality

  $2,863,846

  Educational

  $2,382,686

  Medical

  $2,464,631

  Retail

  $3,706,401

Location Insight

City

Southfield

County

Oakland

State

Michigan

Latitude

42.4485

Longitude

-83.2539

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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