28074 Woodward AveRoyal Oak, MI 48067

Property Details for 28074 Woodward Ave

Year built

1952

Lot size

0.14 AC

Property size (Sq ft)

5,964 SF

Zone code

GEN BUS

Property type

Commercial real estate

APN

72-25-17-279-005

APU

722517279005

Description

This exceptional Royal Oak retail property, located at 28074 Woodward Avenue, offers a single-tenant space situated on a 5,947 square foot lot. Built in 1952, this one-story building features a brand new storefront and is zoned B1. The property boasts high visibility and excellent foot traffic due to its prime Woodward Avenue location in the vibrant city of Royal Oak, Michigan, zip code 48067. The interior offers a spacious, open layout perfect for retail or office use, enhanced by expansive windows creating a bright and inviting atmosphere. The property is ideal for businesses seeking high visibility and convenient access for customers. With no elevators, the single-story design provides easy accessibility. The property's parcel number (APN) is 2517279005, and it is located in Oakland County. This is a rare opportunity to secure a highly sought-after location for your business in a bustling commercial area. The property's size and location make it an excellent investment for a variety of businesses.

• CAP approach

  CAP return

  Valuation

  6%

  $1,405,810

  6.5%

  $1,297,680

  7%

  $1,204,980

• Comparable approach

  Method

  Valuation

  Relative Method

  $557,873

  Geo Method

  $557,873

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $2,446,070

  Retail / Commercial

  $1,275,620

  Mixed-Use / Specialty

  $1,287,850

  Hospitality / Lodging

  $966,699

  Office

  $1,297,680

  Institutional / Educational

  $1,344,840

  Residential Income

  $1,573,470

  Multifamily

  $1,794,120

  Automotive / Energy

  $1,152,720

  Parking / Income-Based Land

  $381,215

  Restaurant / Food Service

  $705,628

  Healthcare / Senior Housing

  $1,303,460

Location Insight

City

Royal Oak

County

Oakland

State

Michigan

Latitude

42.4976

Longitude

-83.166

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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