27312 7 Mile RdRedford Charter Township, MI 48240

Property Details for 27312 7 Mile Rd

Year built

1957

Lot size

0.20 AC

Property size (Sq ft)

2,800 SF

Property type

Retail space

APN

79 004 04 0708 300

APU

79004040708300

Description

This 2,800 square foot industrial property, located at 27312 W 7 MILE, Redford, MI, is situated on a 0.2-acre lot and presents a unique investment opportunity. Built in 1957, the building previously served as a cannabis cultivation facility and offers a partially turnkey setup, including a grow room equipped with 34 lights and 12 fans. The grow room measures approximately 14' high, 40' long, and 37' wide. The property features eight parking spaces and a garage door with an 8' height and 7' width. The building boasts 400 amps of 3-phase electrical power and a 20-ton HVAC system. Zoned C-1 Local Business, this versatile space is adaptable for various uses, including cannabis-related businesses or traditional retail and office spaces. Its prime location offers excellent synergy, surrounded by a dense residential population and numerous established businesses. The property's existing infrastructure provides a solid foundation for a range of commercial ventures. The asking price is $249,888.

• CAP approach

  CAP return

  Valuation

  6%

  $704,610

  6.5%

  $650,409

  7%

  $603,951

• Comparable approach

  Method

  Valuation

  Relative Method

  $660,018

  Geo Method

  $660,018

• Alternative Use

  Use

  Valuation

  Residential

  $548,644

  Hospitality

  $502,555

  Educational

  $418,120

  Medical

  $432,500

  Retail

  $650,409

Location Insight

City

Redford

County

Wayne

State

Michigan

Latitude

42.4279

Longitude

-83.3153

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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