15629 Warren AveDetroit, MI 48228

Property Details for 15629 Warren Ave

Year built

1981

Lot size

0.14 AC

Property size (Sq ft)

2,780 SF

Zone code

B4

Property type

Retail space

APN

22000055-7

APU

220000557

Description

This exceptional Detroit storefront, located at 15629 W Warren Ave, presents a lucrative investment opportunity. The property boasts a total of 4,150 square feet of net rentable space, spread across two units within a two-story building. Completely renovated in 2020, this retail space is ideally situated near the Warren/Greenfield, Dearborn border, offering excellent visibility and accessibility. The asking price is $575,000, translating to $138.55 per square foot. Ample parking is available on an adjacent lot and an additional lot behind the building on Montrose Street, both included in the sale. The property sits on three lots, providing significant potential for future expansion or development. The building is equipped with modern security features including a camera system, a phone system, and a standby generator, ensuring operational efficiency and peace of mind. This versatile space is suitable for a variety of retail uses and includes a second-floor apartment, adding to its overall value and potential income streams. This turnkey operation is ready for immediate occupancy and presents a rare opportunity to acquire a well-maintained, high-traffic retail property in a desirable Detroit location. The property is offered for sale as a 100% ownership opportunity.

• CAP approach

  CAP return

  Valuation

  6%

  $644,156

  6.5%

  $594,606

  7%

  $552,134

• Comparable approach

  Method

  Valuation

  Relative Method

  $270,443

  Geo Method

  $270,443

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $1,140,190

  Mixed-Use / Specialty

  $600,306

  Hospitality / Lodging

  $450,608

  Office

  $604,886

  Institutional / Educational

  $626,872

  Residential Income

  $733,440

  Multifamily

  $836,293

  Automotive / Energy

  $537,319

  Parking / Income-Based Land

  $177,696

  Restaurant / Food Service

  $328,914

  Healthcare / Senior Housing

  $607,583

Location Insight

City

Detroit

County

Wayne

State

Michigan

Latitude

42.3434

Longitude

-83.1981

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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