15651 Warren AveDetroit, MI 48228

Property Details for 15651 Warren Ave

Year built

1962

Lot size

0.23 AC

Property size (Sq ft)

3,330 SF

Zone code

B4

Property type

Auto shops

APN

22000058-62

APU

2200005862

Description

This exceptional mixed-use property, located at 15651 West Warren Avenue in Detroit, Michigan (zip code 48228), presents a lucrative investment opportunity. Priced at $89,000, this 100% occupied billboard offers immediate income generation. The property is classified as a business for sale, encompassing retail and advertisement space. The sale is conducted by the owner, and the property is available for immediate purchase. The building is a single-unit structure, ideal for owner-users seeking a hands-on investment. The current occupancy rate is 100%, ensuring a steady revenue stream. While the current lease expires on October 30, 2024, the prime location in a thriving Detroit community guarantees strong potential for future leasing and advertising revenue. This billboard represents a chance to capitalize on a high-demand advertising space within a vibrant and growing neighborhood. The property is situated in Wayne County, offering easy access to major transportation routes and a high volume of daily traffic, maximizing advertising exposure. This is a rare opportunity to acquire a profitable, established billboard in a desirable location. Don't miss this chance to secure a strong return on your investment.

• CAP approach

  CAP return

  Valuation

  6%

  $1,018,109

  6.5%

  $939,793

  7%

  $872,665

• Comparable approach

  Method

  Valuation

  Relative Method

  $784,950

  Geo Method

  $784,950

• Alternative Use

  Use

  Valuation

  Residential

  $792,751

  Hospitality

  $726,155

  Educational

  $604,153

  Medical

  $624,931

  Retail

  $939,793

Location Insight

City

Detroit

County

Wayne

State

Michigan

Latitude

42.3434

Longitude

-83.1984

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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