6492 Wayne RdRomulus, MI 48174

Property Details for 6492 Wayne Rd

Year built

1952

Lot size

0.44 AC

Property size (Sq ft)

4,800 SF

Zone code

C1-LOCL

Property type

Bars

APN

80 020 02 0009 303

APU

80020020009303

Description

This exceptional 4,800 square foot industrial property, located at 6492 WAYNE in Romulus, MI, presents a unique investment opportunity. The two-story building boasts approximately 2,400 square feet per floor. The ground floor is fully equipped and move-in ready, featuring a complete bar and kitchen, ample seating, a stage for live music, a private office, a high-quality sound system, televisions, and a security system. The upper floor is currently unfinished, offering significant potential for expansion or customization. Situated on a 0.44-acre lot, this property enjoys a prime location near the airport and surrounding businesses, ensuring high visibility and accessibility. The asking price is $400,000. A liquor license is available for an additional cost. The sale is "as is," with the seller making no repairs. The buyer is responsible for any necessary city inspections. All measurements are approximate. Land contracts and leases are not accepted. Proof of funds or pre-approval is required for showings.

• CAP approach

  CAP return

  Valuation

  6%

  $1,207,902

  6.5%

  $1,114,986

  7%

  $1,035,345

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,131,460

  Geo Method

  $1,131,460

• Alternative Use

  Use

  Valuation

  Residential

  $940,533

  Hospitality

  $861,523

  Educational

  $716,777

  Medical

  $741,428

  Retail

  $1,114,986

Location Insight

City

Romulus

County

Wayne

State

Michigan

Latitude

42.2576

Longitude

-83.3905

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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