160 Visger RdRiver Rouge, MI 48218

Property Details for 160 Visger Rd

Year built

1966

Lot size

5.82 AC

Property size (Sq ft)

57,171 SF

Zone code

B2 GEN

Property type

Warehouses

APN

50 010 99 0001 000

APU

50010990001000

Description

This freestanding warehouse, located at 160 Visger Dr (AKA Samuel B. Milton @ Jefferson Ave) in Wayne County's Downriver North submarket, offers 57,900 square feet of vacant space in a single-tenant building. Constructed in 1966, the building boasts a six-story structure with ceiling heights ranging from 14 to 26 feet, providing ample vertical space. The property sits on a 5.28-acre lot and includes six loading docks and one dock-high door, facilitating efficient loading and unloading operations. Ample parking is available on-site. The building is equipped with 1000 amps of power, suitable for various industrial applications. Its industrial zoning allows for a wide range of uses. The property's proximity to steel plants and its rail access make it particularly attractive for manufacturing and storage businesses. This location presents a significant opportunity for businesses seeking a large, well-equipped warehouse in a strategic industrial area. The property is currently entirely vacant, offering immediate occupancy.

• CAP approach

  CAP return

  Valuation

  6%

  $25,901,400

  6.5%

  $23,909,000

  7%

  $22,201,200

• Comparable approach

  Method

  Valuation

  Relative Method

  $8,556,440

  Geo Method

  $8,556,440

• Alternative Use

  Use

  Valuation

  Retail / Commercial

  $11,726,800

  Mixed-Use / Specialty

  $11,264,600

  Hospitality / Lodging

  $7,717,070

  Office

  $10,759,800

  Institutional / Educational

  $11,560,400

  Residential Income

  $13,525,600

  Multifamily

  $18,552,800

  Automotive / Energy

  $9,908,890

  Parking / Income-Based Land

  $3,834,830

  Restaurant / Food Service

  $4,961,500

  Healthcare / Senior Housing

  $11,982,800

Location Insight

City

River Rouge

County

Wayne

State

Michigan

Latitude

42.2613

Longitude

-83.1445

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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