4195 12 Mile RdBerkley, MI 48072

Property Details for 4195 12 Mile Rd

Year built

1975

Lot size

0.17 AC

Property size (Sq ft)

8,781 SF

Zone code

BI

Property type

Auto shops

APN

04-25-18-101-002

APU

42518101002

Description

This exceptional 8,700 square foot retail building, located at 4195 West 12 Mile Road in Berkley, Michigan, presents a compelling investment opportunity. Built in 1975, the property is situated in the desirable Gateway District, boasting a prime location on a high-traffic thoroughfare. The building offers significant visibility thanks to large retail windows, maximizing exposure for any business. An overhead door at the rear provides convenient access for loading and unloading. Ample onsite parking is available for customers, enhancing the shopping experience. The property is zoned for retail use, making it ideal for a variety of businesses. The asking price is $1,500,000. This user/owner opportunity is perfect for an entrepreneur looking to establish a thriving retail presence in a vibrant community. The property's size, location, and features make it an attractive investment for those seeking a strong return on investment in a well-established commercial area of Oakland County, Michigan, zip code 48072.

• CAP approach

  CAP return

  Valuation

  6%

  $1,898,140

  6.5%

  $1,752,130

  7%

  $1,626,970

• Comparable approach

  Method

  Valuation

  Relative Method

  $854,230

  Geo Method

  $854,230

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $3,375,500

  Mixed-Use / Specialty

  $1,762,580

  Hospitality / Lodging

  $1,314,890

  Office

  $1,769,500

  Institutional / Educational

  $1,838,340

  Residential Income

  $2,150,860

  Multifamily

  $2,487,050

  Automotive / Energy

  $1,575,720

  Parking / Income-Based Land

  $527,264

  Restaurant / Food Service

  $952,366

  Healthcare / Senior Housing

  $1,790,370

Location Insight

City

Berkley

County

Oakland

State

Michigan

Latitude

42.5027

Longitude

-83.2027

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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