2300 Schaefer HwyDetroit, MI 48217

Property Details for 2300 Schaefer Hwy

Year built

2002

Lot size

0.54 AC

Property size (Sq ft)

6,600 SF

Zone code

B4

Property type

Strip malls

Property subtype

Neighborhood centers

APN

20018097-104

APU

20018097104

Description

This exceptional 6,600 square foot retail center, located at 2300 S Schaefer Hwy in Detroit, Michigan, presents a compelling investment opportunity. Currently boasting 100% occupancy, this property offers a strong 12.50% capitalization rate, making it an attractive addition to any portfolio. The asking price is $575,000, translating to $87.12 per square foot. The single-building property features ample parking with 32 spaces available for tenants and customers. Its convenient location provides easy access to the I-75 expressway, ensuring high visibility and accessibility for businesses and patrons alike. Situated in Wayne County, Michigan, zip code 48217, this retail strip center is a turnkey operation ready for immediate income generation. The property's strong performance and prime location make it an ideal investment for those seeking a stable, high-return asset in the thriving Detroit market. This is a rare opportunity to acquire a fully occupied, high-performing retail property with significant upside potential. Don't miss out on this chance to secure a valuable piece of Detroit's commercial real estate landscape.

• CAP approach

  CAP return

  Valuation

  6%

  $1,935,151

  6.5%

  $1,786,293

  7%

  $1,658,700

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,555,757

  Geo Method

  $1,555,757

• Alternative Use

  Use

  Valuation

  Residential

  $1,506,805

  Hospitality

  $1,380,225

  Educational

  $1,148,331

  Medical

  $1,187,824

  Retail

  $1,786,293

Location Insight

City

Detroit

County

Wayne

State

Michigan

Latitude

42.2746

Longitude

-83.1503

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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