6902 Chicago RdWarren, MI 48092

  • Healthcare properties
  • 52,997 SF
For Sale
$7,600,000 View listing

Property Details for 6902 Chicago Rd

Year built
1938
Lot size
6.09 AC
Property size (Sq ft)
52,997 SF
Zone code
MZ
Property type
Healthcare properties
Property subtype
Assisted living facilities
APN
12-13-04-451-010
APU
121304451010

Description

This exceptional 70,486 square foot mixed-use property, located at 6902 Chicago Road in Warren, Michigan (48092), presents a rare investment opportunity. Built in 1938 and renovated in 1977, this two-story building sits on a substantial 6.09-acre lot and is currently configured as a 160-person behavioral health residential/outpatient facility. The property boasts attractive grounds featuring a baseball diamond, basketball court, and picnic areas, creating a unique and appealing setting. A maintenance shed is conveniently located on-site. The property is zoned "O" and benefits from its proximity to the General Motors Tech Center. The land value is calculated at $107.82 per square foot, reflecting the significant potential of this location. Note that a deed restriction is in place. The asking price for this substantial property is $7,600,000. This presents a compelling opportunity for investors seeking a large-scale property with significant redevelopment potential in a desirable location. The property's size, amenities, and strategic location near the General Motors Tech Center make it a truly unique offering.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $10,774,594
    6.5%
    $9,945,779
    7%
    $9,235,366
  • Comparable approach

    Method
    Valuation
    Relative Method
    $5,700,940
    Geo Method
    $5,700,940
  • Alternative Use

    Use
    Valuation
    Residential
    $12,616,640
    Hospitality
    $11,556,775
    Educational
    $9,615,101
    Medical
    $9,945,779
    Retail
    $14,956,823
6902 Chicago Rd, Warren, Michigan

Location Insight

City
Warren
County
Macomb
State
Michigan
Latitude
42.5234
Longitude
-83.0359
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
2022
-
-
-
-
-
-
-
-

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