13700 Woodward AveHighland Park, MI 48203

Property Details for 13700 Woodward Ave

Year built

1925

Lot size

0.29 AC

Property size (Sq ft)

41,928 SF

Property type

Office buildings

APN

43 008 09 0010 000

APU

43008090010000

Description

This exceptional eight-story Class C executive office building, located at 13700 Woodward Avenue in Highland Park, Michigan, presents a compelling investment opportunity. Boasting 34,488 square feet of space, the building is currently offered at $3,448,800, translating to $100 per square foot. Constructed in 1925 and renovated in 1960, the property sits on a 0.29-acre lot within a Central Business District (CBD) permitted zoning area. The building features eight individual units, providing flexibility for various occupancy scenarios. The property includes a basement and fenced parking. Note that the adjacent 13714 Woodward Avenue is not included in this sale. This multi-tenant building offers a strong potential for return on investment in a vibrant location. The property's substantial size and prime location in Wayne County, Michigan, zip code 48203, make it an attractive prospect for investors seeking a well-established office building in a desirable area. The building's history and solid construction provide a stable foundation for future growth and development. Serious inquiries are encouraged to explore this unique opportunity further.

• CAP approach

  CAP return

  Valuation

  6%

  $8,720,412

  6.5%

  $8,049,611

  7%

  $7,474,638

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,921,945

  Geo Method

  $3,921,945

• Alternative Use

  Use

  Valuation

  Residential

  $9,981,518

  Hospitality

  $9,143,016

  Educational

  $7,606,882

  Medical

  $7,868,494

  Retail

  $11,832,928

Location Insight

City

Highland Park

County

Wayne

State

Michigan

Latitude

42.4045

Longitude

-83.0958

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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