540 11 Mile RdMadison Heights, MI 48071

Property Details for 540 11 Mile Rd

Year built

1982

Lot size

0.35 AC

Property size (Sq ft)

5,542 SF

Zone code

B-3 GEN

Property type

Office buildings

APN

44-25-24-104-034

APU

442524104034

Description

This exceptional investment opportunity presents a three-unit office building totaling 5,323 square feet, situated on a 0.33-acre lot at 540, 542 & 544 E. 11 Mile Road in Madison Heights, Michigan, 48071. The property, built in 1982, is zoned B-3 and offers significant flexibility for various business needs. Currently configured as three separate units, the building could easily be adapted to accommodate two or even a single larger tenant. The asking price is $479,000, translating to a price per square foot of $89.98. Fifteen parking spaces are available on-site, providing ample convenience for tenants and clients. The building's features include convenient overhead doors, making it suitable for businesses requiring storage or easy access for larger equipment. Its strategic location just off I-75 provides excellent accessibility and visibility, enhancing its appeal to a wide range of potential occupants. This property represents a compelling investment opportunity in a thriving commercial area, offering a blend of established infrastructure and adaptable space. The building's layout and zoning allow for a variety of uses, making it an attractive option for both established businesses and new ventures seeking a prime location in Oakland County.

• CAP approach

  CAP return

  Valuation

  6%

  $1,152,655

  6.5%

  $1,063,989

  7%

  $987,990

• Comparable approach

  Method

  Valuation

  Relative Method

  $518,399

  Geo Method

  $518,399

• Alternative Use

  Use

  Valuation

  Residential

  $1,319,347

  Hospitality

  $1,208,514

  Educational

  $1,005,470

  Medical

  $1,040,050

  Retail

  $1,564,064

Location Insight

City

Madison Heights

County

Oakland

State

Michigan

Latitude

42.4905

Longitude

-83.1015

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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