25890 5 Mile RdRedford Charter Township, MI 48239
- Office buildings
- 3,040 SF
Property Details for 25890 5 Mile Rd
- Year built
- 1946
- Construction
- CONCRETE BLOCKS
- Lot size
- 0.09 AC
- Property size (Sq ft)
- 3,040 SF
- Property type
- Office buildings
- APN
- 79 020 02 0015 000
- APU
- 79020020015000
Description
This exceptional 3,000 square foot building, situated on a 0.9-acre lot in Redford Charter Township, Michigan, presents a fantastic opportunity for a variety of businesses. Currently, 1,600 square feet of space is available for lease in this single-tenant building, ideally suited for medical offices, retail, or restaurant use. The property boasts a convenient location at 25890 Five Mile Rd, near the intersection of 5-Mile RD and Beech Daly Rd, with easy access to major thoroughfares. Built in 1946, the one-story building features office-like finishes and is zoned C2. The property's floor area ratio (FAR) is 100. The previous tenant was an Allstate office, providing a well-established space ready for immediate occupancy. The landlord is willing to collaborate with the tenant on necessary updates and improvements. This versatile space is perfect for entrepreneurs seeking a prime location to establish their business, or for established businesses looking to expand. The asking rent is $2,000 per month gross, plus utilities. The property's APN is 79 020 02 0015 000. This is a rare opportunity to secure a well-located, adaptable space in a thriving community. Don't miss out on this chance to establish your business in this desirable location.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $589,800
- 6.5%
- $544,430
- 7%
- $505,542
-
Comparable approach
- Method
- Valuation
- Relative Method
- $284,362
- Geo Method
- $284,362
-
Alternative Use
- Use
- Valuation
- Industrial / Distribution
- $1,057,660
- Retail / Commercial
- $545,144
- Mixed-Use / Specialty
- $545,390
- Hospitality / Lodging
- $402,986
- Institutional / Educational
- $567,768
- Residential Income
- $664,289
- Multifamily
- $784,573
- Automotive / Energy
- $486,658
- Parking / Income-Based Land
- $165,777
- Restaurant / Food Service
- $288,335
- Healthcare / Senior Housing
- $557,042
Location Insight
- City
- Redford
- County
- Wayne
- State
- Michigan
- Latitude
- 42.3998
- Longitude
- -83.2972
- CBSA code
- 19820
- CBSA name
- DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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