333 7Th StRoyal Oak, MI 48067

Property Details for 333 7Th St

Year built

1925

Lot size

0.85 AC

Property size (Sq ft)

26,584 SF

Zone code

CBD

Property type

Office properties

APN

72-25-21-285-012

APU

722521285012

Description

This exceptional three-story, 40,000 square foot creative office building, located at 333 West Seventh Street in Royal Oak, Michigan, presents a unique investment opportunity. Built in 1925 and extensively renovated in 2013, the Class B property boasts 20 suites, offering flexible spaces ranging from a minimum of 1,150 square feet to a maximum contiguous area of 5,400 square feet. The building sits on a one-acre lot at the corner of Seventh and Lafayette, providing convenient access to downtown Royal Oak's vibrant shops and restaurants. Tenants will appreciate the 10-foot ceilings, a mix of hardwood and polished concrete floors, and the convenience of a single passenger elevator. On-site parking is available, with a ratio of approximately one space per 850 square feet of rented space, totaling 40 spaces. The property's prime location and modern amenities make it an ideal choice for businesses seeking a stylish and functional workspace in a thriving urban setting. The building's multiple tenancy structure allows for diverse occupancy and potential for strong rental income. This is a rare opportunity to acquire a well-maintained, historically significant building in a highly desirable location. The zip code is 48067.

• CAP approach

  CAP return

  Valuation

  6%

  $6,266,300

  6.5%

  $5,784,270

  7%

  $5,371,110

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,486,670

  Geo Method

  $2,486,670

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $10,903,100

  Retail / Commercial

  $5,685,970

  Mixed-Use / Specialty

  $5,740,480

  Hospitality / Lodging

  $4,308,980

  Institutional / Educational

  $5,994,520

  Residential Income

  $7,013,580

  Multifamily

  $7,997,120

  Automotive / Energy

  $5,138,160

  Parking / Income-Based Land

  $1,699,230

  Restaurant / Food Service

  $3,145,270

  Healthcare / Senior Housing

  $5,810,070

Location Insight

City

Royal Oak

County

Oakland

State

Michigan

Latitude

42.4841

Longitude

-83.1474

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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