2003 12 Mile RdWarren, MI 48092

Property Details for 2003 12 Mile Rd

Year built

1959

Lot size

2.69 AC

Property size (Sq ft)

24,700 SF

Zone code

MZ

Property type

Retail properties

Property subtype

Retail space

APN

12-13-07-351-021

APU

121307351021

Description

This exceptional 25,200 square foot retail storefront property, located at 2003 E 12 Mile Rd in Warren, Michigan, presents a significant redevelopment opportunity. Situated on a substantial 2.7-acre lot, the property boasts a prime location with high traffic counts. The existing building consists of three units within a single, one-story structure. Currently, the property includes a former 15,200 square foot Rite Aid with a drive-thru, a 7,000 square foot carpet store, and an additional 3,000 square feet of vacant space. This versatile space offers a unique chance to capitalize on the high visibility and pedestrian traffic along E 12 Mile Road, which sees an average daily traffic count of 23,200 vehicles. The adjacent Dequindre Road boasts even higher traffic volume, averaging 34,800 vehicles daily. The property is zoned C-1 Local Business, allowing for a wide range of commercial uses. This presents an excellent investment opportunity for developers or businesses seeking a high-traffic location in a thriving area of Oakland County, Michigan. The property's size and location make it ideal for a variety of retail or commercial ventures. The APN is 08-14-16-151-006 and the zip code is 48092.

• CAP approach

  CAP return

  Valuation

  6%

  $7,551,742

  6.5%

  $6,970,838

  7%

  $6,472,922

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,822,304

  Geo Method

  $5,822,304

• Alternative Use

  Use

  Valuation

  Residential

  $5,880,163

  Hospitality

  $5,386,198

  Educational

  $4,481,254

  Medical

  $4,635,370

  Retail

  $6,970,838

Location Insight

City

Warren

County

Macomb

State

Michigan

Latitude

42.506

Longitude

-83.0848

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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