5300 8 Mile RdDetroit, MI 48234

Property Details for 5300 8 Mile Rd

Year built

1960

Lot size

0.08 AC

Property size (Sq ft)

2,000 SF

Zone code

B4

Property type

Bars

Property subtype

Pubs

APN

13015839.

APU

13015839

Description

This 2,000-square-foot former church building in Detroit, Michigan, is available for $149,000 ($74.50/sq ft). The property boasts a recently completed renovation and is currently tax-exempt. Ideal for adaptive reuse, the building features a seating capacity of 80-90, making it suitable for a variety of uses. Amenities include a newer furnace and central air conditioning system for year-round comfort. Additional features include two restrooms, a private pastor's study, and a small kitchen/dining area. Constructed of brick and block, this versatile space offers significant potential for entrepreneurs and investors seeking a unique commercial property in a prime Detroit location. The building's address is 5300 E 8 Mile Rd, Detroit, MI 48234, within Wayne County. Its current tax-exempt status presents a significant financial advantage. The existing infrastructure, including the HVAC system, kitchen, and study, provides a solid foundation for various business ventures.

• CAP approach

  CAP return

  Valuation

  6%

  $611,477

  6.5%

  $564,440

  7%

  $524,123

• Comparable approach

  Method

  Valuation

  Relative Method

  $471,442

  Geo Method

  $471,442

• Alternative Use

  Use

  Valuation

  Residential

  $476,127

  Hospitality

  $436,129

  Educational

  $362,855

  Medical

  $375,334

  Retail

  $564,440

Location Insight

City

Detroit

County

Wayne

State

Michigan

Latitude

42.4474

Longitude

-83.0505

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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