20461 John R StHighland Park, MI 48203

Property Details for 20461 John R St

Year built

1994

Lot size

0.62 AC

Property size (Sq ft)

6,974 SF

Zone code

B4

Property type

Office buildings

APN

09024553-65

APU

902455365

Description

This exceptional turn-key business opportunity presents a well-established, full-service collision center in Highland Park, Michigan. Located at 20461 John R St, this property boasts a prime location in a high-traffic area, south of 8 Mile near I-75. The 5,000 square foot main building houses a fully equipped body shop, featuring a paint mixing system, down-draft heater spray booth, hoist, two air compressors, and a frame machine. A separate 2,500 square foot office building offers an updated showroom, manager's office, private conference room, kitchen, bathroom, and reception area. Ample parking is provided with a fenced-in lot accommodating 100 vehicles. This thriving business, operating for over three decades, includes a grandfathered used auto dealer's license, vehicle storage, and towing license, offering diverse revenue streams and significant expansion potential. The asking price is $800,000. The property is classified as a Class B building with two units and 70 parking spaces. This is an ideal investment for an entrepreneur seeking a profitable, established business with a loyal customer base and significant growth opportunities. The property is ready for immediate operation, offering a seamless transition for the new owner.

• CAP approach

  CAP return

  Valuation

  6%

  $1,450,490

  6.5%

  $1,338,914

  7%

  $1,243,277

• Comparable approach

  Method

  Valuation

  Relative Method

  $652,348

  Geo Method

  $652,348

• Alternative Use

  Use

  Valuation

  Residential

  $1,660,253

  Hospitality

  $1,520,783

  Educational

  $1,265,274

  Medical

  $1,308,788

  Retail

  $1,968,204

Location Insight

City

Detroit

County

Wayne

State

Michigan

Latitude

42.4452

Longitude

-83.1031

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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