21800 Greenfield RdOak Park, MI 48237
- Retail properties
- 30,786 SF
Property Details for 21800 Greenfield Rd
- Year built
- 1996
- Lot size
- 2.96 AC
- Property size (Sq ft)
- 30,786 SF
- Zone code
- B-2
- Property type
- Retail properties
- Property subtype
- Outlet malls
- APN
- 52-25-31-155-003
- APU
- 522531155003
Description
This exceptional 30,786-square-foot industrial distribution building, constructed in 1996 and renovated in 2018, presents a compelling investment opportunity. Situated on a 3-acre lot at 21800 Greenfield Road in Oak Park, Michigan (48237), this property boasts a highly desirable location across from the new Northland City Center development and the new Costco Business Center, ensuring exceptional visibility and accessibility. The building features two loading docks and two grade-level doors, facilitating efficient loading and unloading operations. The interior offers approximately 20-foot clear ceiling heights, providing ample space for storage and operations. Cold storage (freezer/cooler) capacity and commercial kitchen capabilities add significant versatility. Ample parking is available with approximately 119 spaces. The property benefits from strong demographics, with a population exceeding 135,000 and an average household income over $70,000 within a 3-mile radius. This turnkey facility is ready for immediate occupancy and presents a rare opportunity to acquire a high-quality industrial property in a thriving market. The APN is 25-31-155-003.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $9,412,467
- 6.5%
- $8,688,431
- 7%
- $8,067,828
-
Comparable approach
- Method
- Valuation
- Relative Method
- $7,256,900
- Geo Method
- $7,256,900
-
Alternative Use
- Use
- Valuation
- Residential
- $7,329,016
- Hospitality
- $6,713,340
- Educational
- $5,585,420
- Medical
- $5,777,511
- Retail
- $8,688,431
Location Insight
- City
- Oak Park
- County
- Oakland
- State
- Michigan
- Latitude
- 42.4543
- Longitude
- -83.1999
- 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
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