3351 Dixie HwyWaterford, MI 48328

Property Details for 3351 Dixie Hwy

Year built

1980

Lot size

0.40 AC

Property size (Sq ft)

5,204 SF

Zone code

BI

Property type

Auto shops

APN

W -13-14-201-010

APU

W1314201010

Description

This exceptional investment opportunity encompasses a thriving 5,204 square foot auto body shop and an adjacent vacant mixed-use building situated on a 0.4-acre lot at 3351 Dixie Hwy in Waterford, MI. The high-traffic location on Dixie Highway ensures excellent visibility and accessibility, promising strong potential for revenue generation. The fully operational auto body shop presents immediate income potential, while the vacant mixed-use building offers significant upside. This building features versatile retail space on the ground floor, ideal for a variety of businesses, and a sizable upstairs apartment, providing additional income streams or housing options. The combined property presents a unique chance to capitalize on both established and untapped revenue streams. The existing auto body shop's operations can be expanded upon, while the vacant building allows for creative redevelopment to suit a range of commercial and residential needs. This property is priced at $1,600,000 and represents a rare chance to acquire a substantial commercial property in a prime location with significant growth potential. Don't miss this opportunity to acquire a property with immediate income and substantial long-term upside.

• CAP approach

  CAP return

  Valuation

  6%

  $1,309,567

  6.5%

  $1,208,831

  7%

  $1,122,486

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,226,691

  Geo Method

  $1,226,691

• Alternative Use

  Use

  Valuation

  Residential

  $1,019,694

  Hospitality

  $934,035

  Educational

  $777,106

  Medical

  $803,832

  Retail

  $1,208,831

Location Insight

City

Waterford

County

Oakland

State

Michigan

Latitude

42.6756

Longitude

-83.3549

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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