18900 Michigan AveDearborn, MI 48126
- Office buildings
- 127,391 SF
Property Details for 18900 Michigan Ave
- Year built
- 1977
- Lot size
- 1.79 AC
- Property size (Sq ft)
- 127,391 SF
- Zone code
- BC
- Property type
- Office buildings
- APN
- 82 09 144 01 023
- APU
- 820914401023
Description
This exceptional single-tenant retail property, located at 18900 Michigan Ave in Dearborn, Michigan, presents a significant investment opportunity. The property encompasses a substantial 259,000 square feet on a 4.895-acre lot, zoned BC in Wayne County (zip code 48126). Its prime location within the Fairlane Town Center offers unparalleled visibility and accessibility. The property benefits from its proximity to major landmarks, including the Ford Motor Company World Headquarters, Henry Ford Community College, the University of Michigan-Dearborn campus, Downtown Dearborn, the Henry Ford Museum, and Greenfield Village. This strategic positioning ensures high foot traffic and strong brand recognition. Existing anchors such as Macy's and JCPenney further enhance the property's desirability and draw significant consumer traffic to the area. The property's size and location make it suitable for a wide range of retail uses, offering substantial potential for redevelopment and significant return on investment. This is a rare opportunity to acquire a substantial retail space in a high-traffic, established commercial center. The property's scale and location within a thriving community make it an exceptional investment prospect.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $21,807,802
- 6.5%
- $20,130,280
- 7%
- $18,692,402
-
Comparable approach
- Method
- Valuation
- Relative Method
- $11,916,154
- Geo Method
- $11,916,154
-
Alternative Use
- Use
- Valuation
- Residential
- $24,961,546
- Hospitality
- $22,864,642
- Educational
- $19,023,114
- Medical
- $19,677,348
- Retail
- $29,591,510
Location Insight
- City
- Dearborn
- County
- Wayne
- State
- Michigan
- Latitude
- 42.3165
- Longitude
- -83.2245
- CBSA code
- 19820
- CBSA name
- DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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