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.
Valuation by Paperhouses methods
Valuation date:
Dec 11, 2024
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
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Disclaimer
The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.
By using this service, you acknowledge and accept that all estimates are provided for informational purposes only and that this website assumes no liability for any reliance on the provided valuations.
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