4811 Venoy RdWayne, MI 48184

Property Details for 4811 Venoy Rd

Year built

1972

Lot size

1.38 AC

Property size (Sq ft)

8,347 SF

Property type

Medical offices

Property subtype

Medical centers

APN

55 023 99 0013 000

APU

55023990013000

Description

This exceptional 8,294 square foot medical office building presents a unique owner-user opportunity in Wayne, Michigan. Located directly across from Corewell Hospital, this strategically positioned property offers unparalleled access to a substantial patient base. The building, constructed in 1975 and extensively renovated in 2024, boasts a single story, encompassing a total of 8,294 net rentable square feet. The property is classified as Class B and is zoned OS, allowing for a variety of medical and related uses. The building's recent renovation ensures modern, efficient spaces ready for immediate occupancy, with an anticipated occupancy date of November 19, 2024. This is an ideal investment for medical professionals seeking a high-visibility location with convenient access to a major hospital. The asking price for this turnkey operation is $1,300,000. The property's prime location, coupled with its recent renovation and proximity to Corewell Hospital, makes it an exceptional investment opportunity for owner-users seeking a thriving medical practice environment. This single-building property offers a rare chance to acquire a well-maintained, updated medical office space in a high-demand area. Broker co-op is available.

• CAP approach

  CAP return

  Valuation

  6%

  $1,428,906

  6.5%

  $1,318,990

  7%

  $1,224,776

• Comparable approach

  Method

  Valuation

  Relative Method

  $780,778

  Geo Method

  $780,778

• Alternative Use

  Use

  Valuation

  Residential

  $1,635,548

  Hospitality

  $1,498,153

  Educational

  $1,246,446

  Medical

  $1,289,313

  Retail

  $1,938,915

Location Insight

City

Wayne

County

Wayne

State

Michigan

Latitude

42.2726

Longitude

-83.3622

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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