4195 12 Mile RdBerkley, MI 48072

  • Retail properties
  • 8,781 SF
For Sale
$1,500,000 View listing

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
4195 12 Mile Rd, Berkley, Michigan

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

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$14,702
-
-
$306,360
-
-
-
$612,720

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