21800 Greenfield RdOak Park, MI 48237

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

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.

• CAP approach

  CAP return

  Valuation

  6%

  $7,133,450

  6.5%

  $6,584,720

  7%

  $6,114,380

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,994,910

  Geo Method

  $2,994,910

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $12,626,500

  Mixed-Use / Specialty

  $6,647,850

  Hospitality / Lodging

  $4,990,070

  Office

  $6,698,560

  Institutional / Educational

  $6,942,040

  Residential Income

  $8,122,190

  Multifamily

  $9,261,190

  Automotive / Energy

  $5,950,320

  Parking / Income-Based Land

  $1,967,820

  Restaurant / Food Service

  $3,642,430

  Healthcare / Senior Housing

  $6,728,440

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

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