16729 Warren AveDetroit, MI 48224

Property Details for 16729 Warren Ave

Year built

1964

Lot size

0.28 AC

Property size (Sq ft)

6,459 SF

Zone code

B4

Property type

Banks

APN

21002912-7

APU

210029127

Description

This exceptional 6,459-square-foot retail building, located at 16729 E Warren Ave in Detroit, Michigan, presents a unique investment opportunity. Situated on a 0.28-acre lot, this single-tenant property boasts a prominent location in the Detroit E of Woodward submarket, easily accessible via Outer Dr. Built in 1964, the two-story structure offers ample space for a variety of retail uses. The building is currently entirely vacant, providing immediate occupancy for a new tenant. Key features include 220-volt, 3-phase power, making it suitable for businesses with significant energy demands. The property's zoning is designated as B4, allowing for a range of commercial activities. Its previous use as a bank, complete with a drive-thru, offers a distinct advantage for businesses seeking convenient customer access. The Wayne County property, with APN 21002912-7, and its 48224 zip code, provides excellent visibility and accessibility within a thriving commercial area. This is an ideal opportunity for an entrepreneur or investor seeking a well-located, substantial retail space in a dynamic Detroit neighborhood. The building's size and features make it suitable for a wide range of retail concepts. The vacant status allows for complete customization to meet the specific needs of a new tenant. This property offers significant potential for growth and return on investment.

• CAP approach

  CAP return

  Valuation

  6%

  $1,708,101

  6.5%

  $1,576,709

  7%

  $1,464,087

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,522,521

  Geo Method

  $1,522,521

• Alternative Use

  Use

  Valuation

  Residential

  $1,330,013

  Hospitality

  $1,218,285

  Educational

  $1,013,598

  Medical

  $1,048,458

  Retail

  $1,576,709

Location Insight

City

Detroit

County

Wayne

State

Michigan

Latitude

42.405

Longitude

-82.9335

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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