6834 Park AveAllen Park, MI 48101

Property Details for 6834 Park Ave

Year built

1956

Lot size

0.05 AC

Property size (Sq ft)

1,660 SF

Zone code

C 2

Property type

Retail properties

APN

30 012 03 0199 000

APU

30012030199000

Description

This 1,660 square foot mixed-use building, located at 6834 Park Avenue in Allen Park, Michigan, is offered for sale by the owner for $160,000. Built in 1956, this single-story, Class C property sits on a 0.046-acre lot and is zoned C2, permitting office, retail, and small cafe uses. The building offers an open interior space ideal for various business needs, featuring a large display window and excellent signage opportunities for high visibility. Its location in a high-traffic area with significant foot traffic ensures excellent accessibility. Convenient proximity to major highways and public transportation further enhances its appeal. The property is situated within a vibrant Allen Park neighborhood known for its supportive local businesses and loyal clientele, providing a strong foundation for business growth. The sale is subject to the buyer assuming any necessary repairs to bring the building up to code and obtaining a Certificate of Occupancy from the City of Allen Park upon sale completion. This presents a unique opportunity for entrepreneurs seeking a well-positioned commercial space in a thriving community.

• CAP approach

  CAP return

  Valuation

  6%

  $384,640

  6.5%

  $355,052

  7%

  $329,691

• Comparable approach

  Method

  Valuation

  Relative Method

  $161,487

  Geo Method

  $161,487

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $680,830

  Mixed-Use / Specialty

  $358,456

  Hospitality / Lodging

  $269,068

  Office

  $361,191

  Institutional / Educational

  $374,319

  Residential Income

  $437,953

  Multifamily

  $499,369

  Automotive / Energy

  $320,845

  Parking / Income-Based Land

  $106,106

  Restaurant / Food Service

  $196,402

  Healthcare / Senior Housing

  $362,801

Location Insight

City

Allen Park

County

Wayne

State

Michigan

Latitude

42.2558

Longitude

-83.2088

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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