11201 Morang DrDetroit, MI 48224

Property Details for 11201 Morang Dr

Year built

1950

Lot size

0.18 AC

Property size (Sq ft)

11,080 SF

Zone code

B4

Property type

Retail space

APN

21076923.002L

APU

21076923002L

Description

This 11,080 square foot industrial warehouse, situated on a 0.18-acre lot in Detroit, MI, at 11201 Morang, presents a compelling investment opportunity. Ideally located on the border of Grosse Pointe Woods, this property benefits from excellent visibility and accessibility. Currently configured as a tire shop and storage facility, the building's versatile layout allows for a variety of commercial uses. Recent upgrades include a brand-new roof and completely new electrical wiring, significantly reducing upfront capital expenditures for the new owner. The existing infrastructure provides a solid foundation for immediate occupancy or customization to suit specific business requirements. The property's prime location offers easy access to major transportation routes, enhancing logistical efficiency for businesses relying on efficient distribution networks. This is an exceptional chance to acquire a well-maintained industrial space in a thriving area, offering significant potential for growth and return on investment. The asking price for this exceptional property is $275,000. Serious inquiries are encouraged.

• CAP approach

  CAP return

  Valuation

  6%

  $3,158,142

  6.5%

  $2,915,208

  7%

  $2,706,978

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,611,786

  Geo Method

  $2,611,786

• Alternative Use

  Use

  Valuation

  Residential

  $2,459,087

  Hospitality

  $2,252,510

  Educational

  $1,874,062

  Medical

  $1,938,514

  Retail

  $2,915,208

Location Insight

City

Detroit

County

Wayne

State

Michigan

Latitude

42.4234

Longitude

-82.9441

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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