32022 Woodward AveRoyal Oak, MI 48073

Property Details for 32022 Woodward Ave

Year built

1945

Lot size

0.09 AC

Property size (Sq ft)

1,132 SF

Zone code

GEN BUS

Property type

Office properties

Property subtype

Other office properties

APN

72-25-06-252-019

APU

722506252019

Description

This exceptional 1,132 square foot executive office suite is ideally located on the bustling Woodward Avenue corridor, at the intersection of Normandy Road in Oakland County. Benefitting from high traffic counts and excellent visibility, this well-maintained and newly updated space presents a fantastic opportunity for a variety of businesses. Previously utilized as a law office, the layout includes three private offices, a dedicated conference room, a file room for efficient record-keeping, two restrooms, and a convenient kitchenette. The property boasts a comprehensive security system for peace of mind, along with recently installed upgrades including a new HVAC unit and water heater, ensuring optimal comfort and efficiency. Seven parking spaces are provided – three along Woodward Avenue and four additional spaces located behind the building. Building signage is available, enhancing brand visibility and attracting potential clients. The single-tenant occupancy offers complete control and customization, allowing a new occupant to tailor the space to their specific needs, whether it be a turnkey office setup or a retail conversion. This is a truly remarkable opportunity to establish a presence in a prime location.

• CAP approach

  CAP return

  Valuation

  6%

  $226,604

  6.5%

  $209,173

  7%

  $194,232

• Comparable approach

  Method

  Valuation

  Relative Method

  $105,887

  Geo Method

  $105,887

• Alternative Use

  Use

  Valuation

  Residential

  $259,375

  Hospitality

  $237,586

  Educational

  $197,669

  Medical

  $204,467

  Retail

  $307,485

Location Insight

City

Royal Oak

County

Oakland

State

Michigan

Latitude

42.5254

Longitude

-83.1928

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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