6703 9 Mile RdWarren, MI 48091

Property Details for 6703 9 Mile Rd

Year built

1950

Lot size

0.06 AC

Property size (Sq ft)

1,040 SF

Zone code

M-1

Property type

Retail space

APN

12-13-28-455-016

APU

121328455016

Description

This 1,040 square foot industrial building sits on a 0.06-acre corner lot at the intersection of Sherwood and 9 Mile Road in Warren, Michigan. Currently vacant, the property presents a unique opportunity for a variety of commercial ventures. Its prime location offers excellent visibility and accessibility, making it ideal for businesses seeking high foot traffic. The building itself is ready for immediate occupancy and could easily accommodate a small industrial operation, a restaurant (such as a Coney Island or pizzeria), or a service-based business like an insurance agency. The possibilities are numerous, given the flexible nature of the space and its strategic placement. The property is available for purchase at $99,000. Alternatively, the building is also available for lease, offering a flexible option for businesses seeking a cost-effective entry into this thriving commercial area. The property's corner location ensures maximum exposure, attracting potential customers and clients. Serious inquiries are encouraged to explore the potential of this versatile commercial property. The building's size and layout provide a solid foundation for a variety of business models. Don't miss this chance to secure a prime location in a bustling commercial district.

• CAP approach

  CAP return

  Valuation

  6%

  $317,968

  6.5%

  $293,509

  7%

  $272,544

• Comparable approach

  Method

  Valuation

  Relative Method

  $245,150

  Geo Method

  $245,150

• Alternative Use

  Use

  Valuation

  Residential

  $247,586

  Hospitality

  $226,787

  Educational

  $188,684

  Medical

  $195,174

  Retail

  $293,509

Location Insight

City

Warren

County

Macomb

State

Michigan

Latitude

42.4631

Longitude

-83.0349

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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