30507 Woodward AveRoyal Oak, MI 48073

Property Details for 30507 Woodward Ave

Year built

2003

Lot size

0.16 AC

Property size (Sq ft)

1,739 SF

Zone code

GEN BUS

Property type

Office properties

APN

72-25-08-151-015

APU

722508151015

Description

This exceptional 2,000-square-foot freestanding retail building presents a unique investment opportunity in the thriving city of Royal Oak, Michigan. Located at 30507 Woodward Avenue, this single-tenant property offers unparalleled visibility and accessibility on a major thoroughfare. The building is currently vacant, providing a blank canvas for a new business or an ideal opportunity for owner-occupancy. The property boasts a BI zoning classification, offering flexibility for a variety of retail uses. Situated in Oakland County, this location benefits from a strong local economy and a high concentration of foot traffic and vehicular traffic. The building's 2,000 square feet of space provides ample room for a variety of retail concepts, from boutiques and restaurants to service-based businesses. The address, 30507 Woodward Avenue, Royal Oak, MI 48073, ensures easy access for customers and employees alike. This property is an excellent choice for investors seeking a high-return investment in a prime retail location. The entire building is available, presenting a rare opportunity to establish a strong presence in a desirable market. With its convenient location and ample space, this property is poised for success. The property's location offers excellent visibility and accessibility, making it an attractive option for businesses seeking a high-traffic location. The BI zoning allows for a wide range of retail uses, providing flexibility for potential tenants. Don't miss this chance to acquire a prime retail property in a vibrant and growing community.

• CAP approach

  CAP return

  Valuation

  6%

  $409,912

  6.5%

  $378,380

  7%

  $351,353

• Comparable approach

  Method

  Valuation

  Relative Method

  $162,666

  Geo Method

  $162,666

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $713,231

  Retail / Commercial

  $371,949

  Mixed-Use / Specialty

  $375,515

  Hospitality / Lodging

  $281,873

  Institutional / Educational

  $392,133

  Residential Income

  $458,796

  Multifamily

  $523,134

  Automotive / Energy

  $336,114

  Parking / Income-Based Land

  $111,156

  Restaurant / Food Service

  $205,749

  Healthcare / Senior Housing

  $380,067

Location Insight

City

Royal Oak

County

Oakland

State

Michigan

Latitude

42.5139

Longitude

-83.183

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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