3461 Telegraph RdDearborn, MI 48124

Property Details for 3461 Telegraph Rd

Year built

1950

Lot size

0.36 AC

Property size (Sq ft)

1,791 SF

Zone code

BB

Property type

Banks

APN

82 09 283 11 007

APU

820928311007

Description

Exceptional investment opportunity in Dearborn, Michigan, presenting a vacant 3,541 square foot retail space ideally situated on heavily trafficked Telegraph Road, boasting over 50,000 vehicles daily. This single-story, 1950-built building sits on a 0.52-acre lot and offers 28 on-site parking spaces, a significant advantage for customers. Previously occupied by a bank, the property features a convenient drive-up window, adding versatility for potential tenants. The asking price is $850,000, translating to $240.05 per square foot. Its location within a densely populated area, surrounded by numerous national retailers, ensures high visibility and strong foot traffic. This property is perfect for a variety of uses, including but not limited to a bank, restaurant, or storefront retail operation. The building's history and existing infrastructure provide a solid foundation for a successful business venture. This is a rare opportunity to acquire a high-traffic retail space in a thriving commercial corridor. The property is currently vacant and ready for immediate occupancy.

• CAP approach

  CAP return

  Valuation

  6%

  $450,698

  6.5%

  $416,029

  7%

  $386,313

• Comparable approach

  Method

  Valuation

  Relative Method

  $422,176

  Geo Method

  $422,176

• Alternative Use

  Use

  Valuation

  Residential

  $350,936

  Hospitality

  $321,456

  Educational

  $267,447

  Medical

  $276,645

  Retail

  $416,029

Location Insight

City

Dearborn

County

Wayne

State

Michigan

Latitude

42.2856

Longitude

-83.2704

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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