510 University DrRochester, MI 48309

Property Details for 510 University Dr

Year built

1901

Lot size

0.18 AC

Property size (Sq ft)

1,268 SF

Zone code

BI

Property type

Office buildings

APN

68-15-10-455-018

APU

681510455018

Description

This exceptional 0.18-acre commercial lot, located at 510 W University Dr in Rochester, Michigan (Oakland County, zip code 48309), presents a remarkable investment opportunity. Currently zoned for commercial and office use (APN 1510455018), this property is situated in the heart of Rochester, offering unparalleled access to the city's vibrant downtown area. The lot is currently improved with an existing house, providing flexibility for buyers to either renovate or demolish and construct a new commercial building. This prime location offers proximity to Rochester's popular attractions and amenities, making it an attractive site for a variety of commercial ventures. Potential buyers are advised to independently verify all building requirements and zoning regulations with the city of Rochester before commencing any development plans. The asking price for this exceptional property is $469,900. Don't miss this chance to acquire a piece of Rochester's thriving commercial landscape. Act quickly to secure this highly desirable location.

• CAP approach

  CAP return

  Valuation

  6%

  $263,726

  6.5%

  $243,439

  7%

  $226,050

• Comparable approach

  Method

  Valuation

  Relative Method

  $118,609

  Geo Method

  $118,609

• Alternative Use

  Use

  Valuation

  Residential

  $301,864

  Hospitality

  $276,506

  Educational

  $230,050

  Medical

  $237,962

  Retail

  $357,855

Location Insight

City

Rochester

County

Oakland

State

Michigan

Latitude

42.6822

Longitude

-83.1399

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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