24611 Mcnichols RdDetroit, MI 48219

Property Details for 24611 Mcnichols Rd

Year built

1969

Lot size

0.15 AC

Property size (Sq ft)

1,323 SF

Zone code

B4

Property type

Retail properties

Property subtype

Turn key restaurants

APN

22013435.

APU

22013435

Description

This 1,323 square foot storefront, located at 24611 W McNichols Rd in Detroit, Michigan, presents a compelling investment opportunity. The property, built in 1969 and extensively renovated in 2023, boasts a single story and sits on a commercially zoned lot in Wayne County (zip code 48219). Priced at $279,000 ($210.88 per square foot), this stand-alone building offers ample parking and excellent visibility due to its prime frontage on McNichols Road. Previously occupied by a Coney Island restaurant, the versatile space presents numerous possibilities for a variety of retail uses. The property's recent renovation ensures a move-in ready condition, minimizing upfront capital expenditures. Its location provides significant exposure to high traffic volume, making it an ideal space for a business seeking strong visibility and accessibility. This is a rare opportunity to acquire a well-located, renovated retail space in a thriving Detroit neighborhood. Don't miss out

• CAP approach

  CAP return

  Valuation

  6%

  $332,928

  6.5%

  $307,318

  7%

  $285,367

• Comparable approach

  Method

  Valuation

  Relative Method

  $311,859

  Geo Method

  $311,859

• Alternative Use

  Use

  Valuation

  Residential

  $259,234

  Hospitality

  $237,457

  Educational

  $197,562

  Medical

  $204,356

  Retail

  $307,318

Location Insight

City

Detroit

County

Wayne

State

Michigan

Latitude

42.4141

Longitude

-83.2838

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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