1123 11 Mile RdRoyal Oak, MI 48067

Property Details for 1123 11 Mile Rd

Year built

1954

Lot size

0.27 AC

Property size (Sq ft)

1,516 SF

Zone code

NBHD BUS

Property type

Auto shops

APN

72-25-15-459-028

APU

722515459028

Description

This 1,516 sq ft Class A mixed-use building in Royal Oak, MI, is situated on a 0.26-acre lot with excellent frontage on E. Eleven Mile Rd. Previously an auto repair facility, it features two overhead doors and is ideally suited for various uses, including auto repair, restaurant, office, or retail, per permitted zoning. The vacant single-story building presents a compelling owner-user investment opportunity at $850,000 ($560.69/sq ft). Its high-traffic location and ample space make it an excellent choice for entrepreneurs seeking a well-positioned commercial property. The property's history as a successful auto repair shop and used car dealership speaks to its potential for continued success in a variety of commercial ventures. The substantial lot size offers additional flexibility and potential for expansion. This is a rare opportunity to acquire a well-located commercial property in a thriving area.

• CAP approach

  CAP return

  Valuation

  6%

  $463,500

  6.5%

  $427,846

  7%

  $397,285

• Comparable approach

  Method

  Valuation

  Relative Method

  $357,353

  Geo Method

  $357,353

• Alternative Use

  Use

  Valuation

  Residential

  $360,904

  Hospitality

  $330,586

  Educational

  $275,044

  Medical

  $284,503

  Retail

  $427,846

Location Insight

City

Royal Oak

County

Oakland

State

Michigan

Latitude

42.4905

Longitude

-83.1309

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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