20195 Mack AveGrosse Pointe Woods, MI 48236

Property Details for 20195 Mack Ave

Year built

1992

Construction

FRAME

Lot size

0.16 AC

Property size (Sq ft)

2,194 SF

Zone code

C

Property type

Retail properties

Property subtype

Drive through restaurants

APN

40 011 01 1554 000

APU

40011011554000

Description

This exceptional investment opportunity presents a fully equipped, 2,194 square foot restaurant space located at 20195 Mack Avenue in Grosse Pointe Woods, Michigan, 48236. The property, zoned for commercial use, is offered at $1,000,000, translating to $38 per square foot. This freestanding building enjoys a highly visible corner location, a significant advantage for attracting customers. The former Boston Market location boasts a rare and desirable feature: ten dedicated parking spaces, supplemented by readily available metered street parking. The building has been vacant, presenting a blank canvas for a new culinary venture or a repositioning of the existing space. This is an absolute NNN lease type property. The property's prime location in the heart of Grosse Pointe Woods, coupled with its ample parking and established restaurant infrastructure, makes it an attractive proposition for discerning investors and restaurateurs. This is a unique opportunity, as the property has not been on the market for decades, representing a rare chance to acquire a well-situated commercial property in a thriving community. The building's size and layout are ideal for a variety of restaurant concepts.

• CAP approach

  CAP return

  Valuation

  6%

  $625,011

  6.5%

  $576,933

  7%

  $535,724

• Comparable approach

  Method

  Valuation

  Relative Method

  $517,171

  Geo Method

  $517,171

• Alternative Use

  Use

  Valuation

  Residential

  $486,665

  Hospitality

  $445,782

  Educational

  $370,886

  Medical

  $383,641

  Retail

  $576,933

Location Insight

City

Grosse Pointe Woods

County

Wayne

State

Michigan

Latitude

42.4355

Longitude

-82.9088

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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