6201 Chicago RdWarren, MI 48092

Property Details for 6201 Chicago Rd

Year built

1954

Lot size

0.25 AC

Property size (Sq ft)

2,064 SF

Zone code

PB

Property type

Medical offices

Property subtype

Medical centers

APN

12-13-04-327-017

APU

121304327017

Description

This exceptional 2,295 square foot free-standing office building is ideally situated in Warren, Michigan, at 6201 Chicago Road. The property boasts a convenient single-tenant occupancy, perfect for a business seeking a dedicated space. Ample parking is provided with 16 spaces, offering a generous 7.75 spaces per 1,000 square feet. The building is zoned for professional business districts, making it suitable for a wide range of uses, including general or medical offices. Its strategic location directly across from the GM Tech Center provides excellent visibility and accessibility. Commuting is simplified by its proximity to major expressways including M-53, I-696, I-94, and I-75. Local amenities are conveniently located nearby. Exterior updates are planned for 2024. The landlord is offering a full build-out allowance as part of the lease agreement. The gross lease rate is $16.50 per square foot. This property presents a rare opportunity to secure a well-located, functional, and attractive office space in a thriving business district. The zip code is 48092.

• CAP approach

  CAP return

  Valuation

  6%

  $486,519

  6.5%

  $449,095

  7%

  $417,017

• Comparable approach

  Method

  Valuation

  Relative Method

  $193,067

  Geo Method

  $193,067

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $846,526

  Retail / Commercial

  $441,463

  Mixed-Use / Specialty

  $445,695

  Hospitality / Lodging

  $334,552

  Institutional / Educational

  $465,418

  Residential Income

  $544,540

  Multifamily

  $620,902

  Automotive / Energy

  $398,930

  Parking / Income-Based Land

  $131,929

  Restaurant / Food Service

  $244,201

  Healthcare / Senior Housing

  $451,098

Location Insight

City

Warren

County

Macomb

State

Michigan

Latitude

42.5251

Longitude

-83.043

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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