106 Main StRoyal Oak, MI 48067
- Turn key restaurants
- 12,098 SF
Property Details for 106 Main St
- Year built
- 1925
- Lot size
- 0.15 AC
- Property size (Sq ft)
- 12,098 SF
- Zone code
- CBD
- Property type
- Turn key restaurants
- APN
- 72-25-21-231-013
- APU
- 722521231013
Description
This exceptional retail opportunity is located at 106 S Main St in the vibrant heart of Royal Oak, Michigan, 48067. The property, a two-story mixed-use building constructed in 1925, offers a total of 12,100 square feet of space. Currently, there are multiple suites available for lease, ranging from a minimum of 1,533 square feet to a maximum contiguous space of 1,660 square feet. A total of 3,193 square feet is currently vacant, presenting a significant opportunity for expansion or new tenancy. The building is zoned CBD (Central Business District), reflecting its prime location within the city's commercial core. The property includes six parking spaces for tenant and customer convenience. This historic building offers a unique blend of character and modern functionality, making it an ideal location for a variety of retail businesses. The property's address is 25-21-231-013 (APN) in Oakland County. Its central location provides excellent visibility and accessibility, ensuring high foot traffic and potential for strong business growth. Inquire today to learn more about this exciting opportunity to establish your business in a thriving Royal Oak location.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $2,803,240
- 6.5%
- $2,587,600
- 7%
- $2,402,770
-
Comparable approach
- Method
- Valuation
- Relative Method
- $1,176,910
- Geo Method
- $1,176,910
-
Alternative Use
- Use
- Valuation
- Industrial / Distribution
- $4,961,860
- Mixed-Use / Specialty
- $2,612,410
- Hospitality / Lodging
- $1,960,950
- Office
- $2,632,340
- Institutional / Educational
- $2,728,020
- Residential Income
- $3,191,780
- Multifamily
- $3,639,380
- Automotive / Energy
- $2,338,300
- Parking / Income-Based Land
- $773,295
- Restaurant / Food Service
- $1,431,370
- Healthcare / Senior Housing
- $2,644,080
Location Insight
- City
- Royal Oak
- County
- Oakland
- State
- Michigan
- Latitude
- 42.4895
- Longitude
- -83.1447
- CBSA code
- 19820
- CBSA name
- DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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