4195 12 Mile RdBerkley, MI 48072
- Retail properties
- 8,781 SF
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
- Retail properties
- Property subtype
- 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.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $2,486,405
- 6.5%
- $2,295,143
- 7%
- $2,131,204
-
Comparable approach
- Method
- Valuation
- Relative Method
- $2,069,864
- Geo Method
- $2,069,864
-
Alternative Use
- Use
- Valuation
- Residential
- $1,936,039
- Hospitality
- $1,773,401
- Educational
- $1,475,449
- Medical
- $1,526,192
- Retail
- $2,295,143
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
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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