2474 Orchard Lake RdSylvan Lake, MI 48320

Property Details for 2474 Orchard Lake Rd

Year built

1966

Lot size

0.49 AC

Property size (Sq ft)

6,376 SF

Zone code

BI

Property type

Super regional malls

APN

84-18-01-184-011

APU

841801184011

Description

This exceptional retail property, located at 2474 Orchard Lake Rd in Sylvan Lake, Michigan, presents a lucrative investment opportunity. Boasting 2,600 square feet of space, this property is situated on a 0.49-acre lot and was constructed in 1966. The asking price is $1,100,000, translating to a price per square foot of $423.08. The property offers ample parking, with a ratio of 4.6 spaces per 1,000 square feet, ensuring convenient access for customers. Its prime location in Sylvan Lake, within Oakland County, and its easily accessible address on Orchard Lake Rd (zip code 48320) provide excellent visibility and high traffic potential. The property's 2,600 square feet provide ample space for a variety of retail businesses. This is a rare opportunity to acquire a well-established retail space in a thriving Michigan community. The property's size and location make it ideal for a range of retail ventures, offering significant potential for growth and return on investment. Serious inquiries are encouraged to explore this exceptional opportunity further. The property is currently listed for sale.

• CAP approach

  CAP return

  Valuation

  6%

  $1,604,497

  6.5%

  $1,481,074

  7%

  $1,375,283

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,502,956

  Geo Method

  $1,502,956

• Alternative Use

  Use

  Valuation

  Residential

  $1,249,341

  Hospitality

  $1,144,390

  Educational

  $952,119

  Medical

  $984,864

  Retail

  $1,481,074

Location Insight

City

Sylvan Lake

County

Oakland

State

Michigan

Latitude

42.6096

Longitude

-83.3347

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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