1103 Washington AveRoyal Oak, MI 48067

Property Details for 1103 Washington Ave

Year built

1913

Lot size

0.19 AC

Property size (Sq ft)

1,744 SF

Zone code

MIX USE 2

Property type

Office properties

APN

72-25-21-433-001

APU

722521433001

Description

This exceptional 1,744 square foot commercial lot, located at 1103 S Washington Avenue in Royal Oak, Michigan, presents a unique investment opportunity. Situated in the heart of downtown Royal Oak, this property boasts a highly visible location east of Woodward Avenue and north of I-696, surrounded by new developments. Currently configured as office space, the property offers remarkable flexibility for conversion into a mixed-use development, catering to a variety of commercial ventures. The property includes a spacious parking lot at the rear, a significant advantage in this bustling area. The asking price is $549,900. The property is zoned for commercial use and is located in Oakland County, Michigan, zip code 48067. This prime location offers excellent visibility and accessibility, making it an ideal investment for those seeking a versatile property in a thriving downtown setting. The property's size and location make it suitable for a range of commercial uses, providing significant potential for future growth and return on investment. This is a rare opportunity to acquire a substantial commercial lot in a highly desirable area of Royal Oak.

• CAP approach

  CAP return

  Valuation

  6%

  $362,727

  6.5%

  $334,824

  7%

  $310,908

• Comparable approach

  Method

  Valuation

  Relative Method

  $163,134

  Geo Method

  $163,134

• Alternative Use

  Use

  Valuation

  Residential

  $415,182

  Hospitality

  $380,305

  Educational

  $316,409

  Medical

  $327,291

  Retail

  $492,192

Location Insight

City

Royal Oak

County

Oakland

State

Michigan

Latitude

42.4805

Longitude

-83.1459

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].