23594 Hoover RdWarren, MI 48089

Property Details for 23594 Hoover Rd

Year built

1950

Lot size

0.49 AC

Property size (Sq ft)

2,316 SF

Zone code

M-2

Property type

Turn key restaurants

APN

12-13-26-303-046

APU

121326303046

Description

This exceptional 1,433-square-foot warehouse, located at 23594 Hoover Rd in Warren, Michigan (zip code 48089), presents a compelling investment opportunity. Priced at $450,000 ($314.03 per square foot), this property boasts a highly desirable M2 zoning designation, opening doors to a variety of commercial uses. The building itself is fully operational, having undergone recent interior and exterior remodeling. Ample parking is available on-site, enhancing its practicality and appeal. A significant advantage is the inclusion of a separate 864-square-foot outbuilding, providing additional space and further parking capacity. This versatile property is situated in Macomb County, Michigan, and its location offers convenient access to major transportation routes and amenities. The property's recent renovations ensure a move-in ready condition, minimizing upfront investment and maximizing immediate return. This is an ideal opportunity for investors seeking a well-maintained, functional warehouse with significant expansion potential in a thriving commercial area. The property's size, zoning, and additional outbuilding make it a truly unique and attractive offering.

• CAP approach

  CAP return

  Valuation

  6%

  $536,642

  6.5%

  $495,362

  7%

  $459,979

• Comparable approach

  Method

  Valuation

  Relative Method

  $225,304

  Geo Method

  $225,304

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $949,881

  Mixed-Use / Specialty

  $500,111

  Hospitality / Lodging

  $375,398

  Office

  $503,926

  Institutional / Educational

  $522,243

  Residential Income

  $611,024

  Multifamily

  $696,710

  Automotive / Energy

  $447,637

  Parking / Income-Based Land

  $148,037

  Restaurant / Food Service

  $274,016

  Healthcare / Senior Housing

  $506,174

Location Insight

City

Warren

County

Macomb

State

Michigan

Latitude

42.4681

Longitude

-83.0053

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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