4908 Wayne RdWayne, MI 48184

Property Details for 4908 Wayne Rd

Year built

1955

Lot size

0.41 AC

Property size (Sq ft)

3,406 SF

Property type

Commercial real estate

APN

55 016 02 0035 006

APU

55016020035006

Description

This exceptional commercial property, located at 4908 S Wayne Road in Wayne, MI, presents a lucrative investment opportunity. The 0.41-acre lot houses a well-established smoke shop, a long-term tenant operating successfully for over two decades. This provides immediate and consistent rental income. In addition to the commercial space, the property includes four residential units, offering further revenue potential. One of these residential units has the potential for conversion into three separate units, significantly increasing the property's rental income capacity. The property benefits from a prime location in downtown Wayne, boasting high foot traffic and excellent visibility, ensuring strong tenant occupancy and potential for future growth. The asking price is $799,900. This is a rare opportunity to acquire a multi-faceted commercial property with established income streams and significant upside potential in a desirable location. The property's strong tenant history and high-traffic location make it an attractive investment for both seasoned and new investors seeking a stable and profitable venture. The combination of commercial and residential units provides diversification and a robust return on investment. Serious inquiries are encouraged to explore this exceptional opportunity further.

• Alternative Use

  Use

  Valuation

  Residential

  $667,386

  Hospitality

  $611,322

  Educational

  $508,613

  Medical

  $526,105

  Retail

  $791,176

Location Insight

City

Wayne

County

Wayne

State

Michigan

Latitude

42.2724

Longitude

-83.3892

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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