18201 Joy RdDetroit, MI 48228

Property Details for 18201 Joy Rd

Year built

1953

Lot size

0.06 AC

Property size (Sq ft)

2,156 SF

Zone code

B4

Property type

Retail space

APN

22002326.

APU

22002326

Description

This exceptional investment opportunity presents a 2,156 square foot multi-tenant retail building located at 18201 Joy Road in Detroit, Michigan. The property, built in 1953, sits on a 0.06-acre lot and boasts 100% occupancy, generating immediate cash flow. The building is a single-story structure, zoned B4, offering significant potential for future growth and development. Priced at $195,000 ($90.45 per square foot), this property represents a compelling value proposition in a thriving Detroit market. Convenient street parking is available for tenants and customers. The property is available for immediate purchase, making it an ideal acquisition for investors seeking a stable, income-producing asset. With its prime location and strong tenant occupancy, this retail building offers a rare chance to secure a foothold in a dynamic commercial area. The property's multi-tenant configuration provides diversification and minimizes risk, while the B4 zoning allows for a range of potential uses. This is a turnkey investment ready for immediate returns. Don't miss this opportunity to own a piece of Detroit's vibrant commercial landscape.

• CAP approach

  CAP return

  Valuation

  6%

  $635,245

  6.5%

  $586,380

  7%

  $544,496

• Comparable approach

  Method

  Valuation

  Relative Method

  $508,214

  Geo Method

  $508,214

• Alternative Use

  Use

  Valuation

  Residential

  $494,633

  Hospitality

  $453,082

  Educational

  $376,959

  Medical

  $389,923

  Retail

  $586,380

Location Insight

City

Detroit

County

Wayne

State

Michigan

Latitude

42.3575

Longitude

-83.2178

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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