17422 Woodward AveDetroit, MI 48203

Property Details for 17422 Woodward Ave

Year built

1925

Lot size

0.03 AC

Property size (Sq ft)

2,900 SF

Zone code

B4

Property type

Retail space

APN

01009692.

APU

1009692

Description

This exceptional mixed-use property, located at 17422 & 17428 Woodward Avenue in Detroit, Michigan, presents a compelling value-add investment opportunity. The property consists of two, two-story buildings totaling 0.07 acres, built in 1925 and zoned B4. Currently in shell condition, requiring complete rehabilitation, this property offers significant upside potential. Situated across from Palmer Park and the Detroit Golf Club, the buildings benefit from high visibility on a major thoroughfare with over 30,000 vehicles passing daily. The versatile space is ideal for a variety of uses, including medical offices, beauty salons, or professional businesses, with upper-level units easily adaptable into apartments. The asking price is $400,000. The sale includes both buildings, but excludes the existing billboard. This is an "as is" sale; buyers are responsible for verifying all information. This prime location offers unparalleled potential for businesses seeking high traffic and visibility in a rapidly developing area of Detroit. The property's strategic location and substantial potential for redevelopment make it an attractive investment for discerning buyers.

• CAP approach

  CAP return

  Valuation

  6%

  $886,642

  6.5%

  $818,439

  7%

  $759,979

• Comparable approach

  Method

  Valuation

  Relative Method

  $683,590

  Geo Method

  $683,590

• Alternative Use

  Use

  Valuation

  Residential

  $690,384

  Hospitality

  $632,388

  Educational

  $526,139

  Medical

  $544,234

  Retail

  $818,439

Location Insight

City

Detroit

County

Wayne

State

Michigan

Latitude

42.4192

Longitude

-83.1058

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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