31205 Woodward AveRoyal Oak, MI 48073

Property Details for 31205 Woodward Ave

Year built

1969

Lot size

0.21 AC

Property size (Sq ft)

2,786 SF

Zone code

GEN BUS

Property type

Office properties

Property subtype

Other office properties

APN

72-25-06-454-031

APU

722506454031

Description

This exceptional 3,677 square foot executive office building, situated at 31205 Woodward Avenue in Royal Oak, Michigan, presents a unique investment opportunity. Built in 1969, this two-story structure sits on a 0.25-acre lot (APN 25-06-454-031) and boasts a prominent 100+ foot frontage on Woodward Avenue, a high-traffic thoroughfare with over 65,000 vehicles passing daily. The property features a flexible GB zoning designation, allowing for a diverse range of uses including office, lab, and retail spaces. The building offers ample natural lighting and an outdoor employee patio area. Inside, you'll find a functional layout with 13 surface parking spaces (a ratio of 3.54 per 1,000 square feet), providing convenient parking for staff and clients. Its convenient location offers easy walkability to numerous restaurants, enhancing its appeal and functionality. This property is a blend of classic charm and modern adaptability, making it an ideal choice for a variety of businesses seeking a high-visibility location in a thriving community. The building's mixed lab/office configuration offers versatility for a range of potential tenants.

• CAP approach

  CAP return

  Valuation

  6%

  $558,474

  6.5%

  $515,514

  7%

  $478,692

• Comparable approach

  Method

  Valuation

  Relative Method

  $260,602

  Geo Method

  $260,602

• Alternative Use

  Use

  Valuation

  Residential

  $639,238

  Hospitality

  $585,538

  Educational

  $487,161

  Medical

  $503,915

  Retail

  $757,806

Location Insight

City

Royal Oak

County

Oakland

State

Michigan

Latitude

42.5199

Longitude

-83.1889

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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