1505 Dix HwyLincoln Park, MI 48146

Property Details for 1505 Dix Hwy

Year built

1959

Lot size

0.43 AC

Property size (Sq ft)

3,339 SF

Property type

Retail space

APN

45 005 02 0497 301

APU

45005020497301

Description

This exceptional 3,339 square foot commercial property in Lincoln Park, Michigan, presents a remarkable investment opportunity. Situated at 1505 Dix Hwy, this single-tenant space boasts an enviable location with 226 feet of road frontage on Dix Highway, offering unparalleled visibility and accessibility. The half-acre lot provides ample parking for customers and employees. Recently updated with new windows and doors, the building is ready for immediate occupancy. Its versatile zoning allows for a variety of uses, including retail, automotive, or medical office space. Previous uses include a party store, highlighting its adaptability. The property's proximity to the intersection of Dix Highway and Southfield Freeway ensures high traffic volume and excellent exposure. The property is located in Wayne County, Michigan, with a zip code of 48146. This prime location is ideal for businesses seeking high visibility and convenient access to major thoroughfares. The spacious layout and ample parking make this property a truly attractive option for a wide range of commercial ventures. Don't miss this chance to secure a thriving business location in a high-demand area.

• CAP approach

  CAP return

  Valuation

  6%

  $1,020,861

  6.5%

  $942,333

  7%

  $875,024

• Comparable approach

  Method

  Valuation

  Relative Method

  $787,072

  Geo Method

  $787,072

• Alternative Use

  Use

  Valuation

  Residential

  $794,893

  Hospitality

  $728,118

  Educational

  $605,786

  Medical

  $626,620

  Retail

  $942,333

Location Insight

City

Lincoln Park

County

Wayne

State

Michigan

Latitude

42.2603

Longitude

-83.1884

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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