22440 Plymouth RdDetroit, MI 48239

Property Details for 22440 Plymouth Rd

Year built

1954

Lot size

0.17 AC

Property size (Sq ft)

6,359 SF

Zone code

B4

Property type

Hospitality properties

Property subtype

Motels

APN

22005572-4

APU

220055724

Description

This fee-simple motel, located at 22440 Plymouth Rd, Redford Charter Township, MI 48239, presents a compelling investment opportunity. Built in 1952, this single-story, 21-key property sits on a 0.61-acre lot and offers significant upside potential. The motel benefits from its strategic location less than a mile from US Route 24 and within easy reach of Detroit Metropolitan Wayne County Airport (under 15 miles). Its position in the Detroit-Warren-Dearborn MSA, a major economic hub, ensures access to a high-demand market fueled by industries like healthcare, technology, and automotive. Nearby corporate giants such as Ford and General Motors, along with numerous educational institutions (Wayne State University, University of Michigan-Dearborn), and healthcare facilities (Garden City Hospital, Corewell Health Dearborn Hospital) provide a consistent stream of potential guests. Leisure attractions, including Fairlane Town Center, the Henry Ford Museum, and several parks, further enhance the property's appeal. The motel's proximity to major interstates allows for easy access to Detroit, Flint, and Toledo. With potential for operational enhancements and property upgrades, this asset offers significant room to elevate the guest experience, boost occupancy, and increase the average daily rate (ADR). Cosmetic improvements and modernized amenities will leverage the prime location, driving revenue growth and asset appreciation. The asking price is $1,050,000.

• CAP approach

  CAP return

  Valuation

  6%

  $1,236,450

  6.5%

  $1,141,339

  7%

  $1,059,814

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,397,829

  Geo Method

  $1,397,829

• Alternative Use

  Use

  Valuation

  Residential

  $1,246,010

  Hospitality

  $1,141,339

  Educational

  $949,580

  Medical

  $982,238

  Retail

  $1,477,125

Location Insight

City

Redford

County

Wayne

State

Michigan

Latitude

42.3719

Longitude

-83.2617

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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