440 OakwoodDetroit, MI 48217

Property Details for 440 Oakwood

Year built

1952

Lot size

0.25 AC

Property size (Sq ft)

11,388 SF

Zone code

B2

Property type

Auto shops

APN

20016160.

APU

20016160

Description

This exceptional 3,000 square foot industrial property is a fully operational, five-bay semi-truck body and mechanic shop. The facility is equipped to handle all aspects of heavy-duty vehicle repair and maintenance. Features include automatic overhead doors, high ceilings allowing for easy access for semi-trucks and other large vehicles, and state-of-the-art tools and machinery. A well-designed office and customer reception area provide a professional environment for clients. The property also boasts a recently installed roof (less than two months old) and an upstairs loft, perfect for on-site living or additional office space. Its location in a prime industrial area offers high visibility and easy access to major highways and trucking routes, ensuring convenient transportation for both clients and employees. This single-tenant property presents a unique opportunity for businesses specializing in commercial vehicle services. The combination of its functionality, equipment, and strategic location makes it an attractive investment.

• CAP approach

  CAP return

  Valuation

  6%

  $3,481,750

  6.5%

  $3,213,924

  7%

  $2,984,358

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,684,388

  Geo Method

  $2,684,388

• Alternative Use

  Use

  Valuation

  Residential

  $2,711,065

  Hospitality

  $2,483,321

  Educational

  $2,066,094

  Medical

  $2,137,150

  Retail

  $3,213,924

Location Insight

City

Detroit

County

Wayne

State

Michigan

Latitude

42.2896

Longitude

-83.1482

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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