29732 Woodward AveRoyal Oak, MI 48073

Property Details for 29732 Woodward Ave

Year built

1974

Lot size

0.16 AC

Property size (Sq ft)

2,880 SF

Zone code

GEN BUS

Property type

Commercial real estate

APN

72-25-08-326-025

APU

722508326025

Description

This exceptional 2,880-square-foot retail space is ideally situated on Woodward Avenue in Royal Oak, Michigan, offering unparalleled visibility and accessibility. The single-tenant building, constructed in 1974, boasts a Class B rating and is situated on a 0.16-acre lot. The property features a spacious, open floor plan with high ceilings, providing flexibility for a variety of retail uses. Ample parking is available with 18 spaces total, including 13 dedicated spaces and 5 municipal spaces. The building is well-maintained and benefits from high-visibility signage directly on Woodward Avenue, ensuring strong brand exposure. The property's location within Royal Oak offers access to a robust and desirable demographic, coupled with excellent traffic flow along Woodward Avenue, a major thoroughfare. The property is currently vacant and ready for immediate occupancy. This is a rare opportunity to secure a prime retail location in a thriving Michigan community. The building is a single-story structure. Oakland County location provides access to a strong local economy.

• CAP approach

  CAP return

  Valuation

  6%

  $678,864

  6.5%

  $626,644

  7%

  $581,884

• Comparable approach

  Method

  Valuation

  Relative Method

  $269,395

  Geo Method

  $269,395

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $1,181,200

  Retail / Commercial

  $615,994

  Mixed-Use / Specialty

  $621,900

  Hospitality / Lodging

  $466,816

  Office

  $626,644

  Institutional / Educational

  $649,421

  Residential Income

  $759,823

  Multifamily

  $866,375

  Automotive / Energy

  $556,647

  Parking / Income-Based Land

  $184,088

  Restaurant / Food Service

  $340,746

  Healthcare / Senior Housing

  $629,439

Location Insight

City

Royal Oak

County

Oakland

State

Michigan

Latitude

42.5094

Longitude

-83.1773

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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