1206 Washington AveRoyal Oak, MI 48067

Property Details for 1206 Washington Ave

Year built

1917

Lot size

0.17 AC

Property size (Sq ft)

1,184 SF

Zone code

MIX USE 2

Property type

Office properties

Property subtype

Other office properties

APN

72-25-21-434-015

APU

722521434015

Description

This exceptional medical office building, located at 1206 S. Washington Ave in Royal Oak, Michigan, presents a unique investment opportunity. The property, situated on a 0.17-acre lot (7,506 square feet) in the Royal Oak Vicinity submarket, boasts a total of 2,078 square feet across two stories. Currently, 1,300 square feet of space is available for lease within this Class B building, constructed in 1917. The building features a modern design and layout, ideal for a variety of medical practices. A significant advantage is the inclusion of approximately 900 square feet of free storage space in the lower level, adding considerable value. The property is zoned commercial and offers convenient access, located north of I-696 and east of Woodward Ave. Seven parking spaces are available for tenants and visitors. This is a turn-key opportunity in a prime Royal Oak location. The property's multiple tenancy structure offers flexibility and potential for growth. The zip code is 48067.

• CAP approach

  CAP return

  Valuation

  6%

  $246,255

  6.5%

  $227,312

  7%

  $211,075

• Comparable approach

  Method

  Valuation

  Relative Method

  $110,751

  Geo Method

  $110,751

• Alternative Use

  Use

  Valuation

  Residential

  $281,867

  Hospitality

  $258,189

  Educational

  $214,810

  Medical

  $222,198

  Retail

  $334,149

Location Insight

City

Royal Oak

County

Oakland

State

Michigan

Latitude

42.4793

Longitude

-83.1467

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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