5999 Andersonville RdWaterford Township, MI 48329

Property Details for 5999 Andersonville Rd

Year built

1956

Lot size

0.56 AC

Property size (Sq ft)

3,650 SF

Zone code

BI

Property type

Retail space

APN

W -13-04-151-001

APU

W1304151001

Description

This 5,200 square foot restaurant in Waterford Township, Michigan is ready for immediate occupancy. Located on a high-traffic corner lot at 5999 Andersonville Rd (48329), this property boasts excellent curb appeal and a prime location. The building, custom-built in 1980 and previously a successful family-owned ice cream parlor and bakery for 44 years, features newer windows and roof, 6" sewer drains, and commercial gas lines. The 0.56-acre lot provides ample parking with 30 spaces, plus three grandfathered sign posts and an exterior storage shed. An attached apartment offers potential for additional rental income. The property includes two furnaces and air conditioning units. Currently zoned C-1, permitted uses include, but are not limited to, convenience stores, animal grooming, childcare, dry cleaning, medical and professional offices, restaurants, fast food, and fitness centers. The asking price is $599,000, with a price per square foot of $115.19. The property features one building and is situated on APN 1304151001. Ownership is a proprietorship.

• CAP approach

  CAP return

  Valuation

  6%

  $918,509

  6.5%

  $847,854

  7%

  $787,293

• Comparable approach

  Method

  Valuation

  Relative Method

  $860,381

  Geo Method

  $860,381

• Alternative Use

  Use

  Valuation

  Residential

  $715,197

  Hospitality

  $655,116

  Educational

  $545,049

  Medical

  $563,794

  Retail

  $847,854

Location Insight

City

Waterford

County

Oakland

State

Michigan

Latitude

42.6998

Longitude

-83.4074

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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