32302 Woodward AveRoyal Oak, MI 48073

Property Details for 32302 Woodward Ave

Year built

1953

Lot size

0.20 AC

Property size (Sq ft)

7,846 SF

Zone code

GEN BUS

Property type

Commercial real estate

APN

72-25-06-180-011

APU

722506180011

Description

This exceptional retail opportunity encompasses two prime spaces located on Woodward Avenue in the vibrant city of Royal Oak, Michigan. The property, situated at 32302-32314 & 32286 Woodward Avenue, offers a combined total of 5,264 square feet of retail space, ideal for a variety of uses. Two spaces are currently available, providing flexibility for single or multi-tenant occupancy. One space previously housed a Golden Basket and measures 3,554 square feet, while the other, formerly an Army Navy store, offers 5,264 square feet. The property is classified as street retail and freestanding, benefiting from high visibility and accessibility. Located in Oakland County, Michigan, with a zip code of 48073, this property enjoys a prime location in a bustling commercial area. The address is 32302 Woodward Ave, Royal Oak, MI 48073. This presents a unique chance to establish or expand a business in a thriving Michigan community with significant foot traffic and excellent visibility. The property's size and configuration offer considerable potential for a variety of retail ventures. The building's total square footage is 5,264 square feet, spread across two available spaces. This is a multiple-tenancy property, providing options for different business models. The property's location on Woodward Avenue ensures high visibility and accessibility for customers.

• CAP approach

  CAP return

  Valuation

  6%

  $1,778,900

  6.5%

  $1,642,060

  7%

  $1,524,770

• Comparable approach

  Method

  Valuation

  Relative Method

  $733,915

  Geo Method

  $733,915

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $3,114,030

  Retail / Commercial

  $1,620,120

  Mixed-Use / Specialty

  $1,632,670

  Hospitality / Lodging

  $1,221,700

  Office

  $1,642,060

  Institutional / Educational

  $1,703,870

  Residential Income

  $1,993,530

  Multifamily

  $2,289,320

  Automotive / Energy

  $1,460,460

  Parking / Income-Based Land

  $485,879

  Restaurant / Food Service

  $888,282

  Healthcare / Senior Housing

  $1,655,480

Location Insight

City

Royal Oak

County

Oakland

State

Michigan

Latitude

42.5274

Longitude

-83.1948

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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