3381 Highland RdWaterford, MI 48328

Property Details for 3381 Highland Rd

Year built

1949

Lot size

0.33 AC

Property size (Sq ft)

748 SF

Zone code

BI

Property type

Automotive properties

APN

W -13-26-251-007

APU

W1326251007

Description

This exceptional 720 sq ft industrial property in Waterford, MI, presents a rare opportunity to acquire an established car dealership. Situated at the bustling intersection of Highland Road and Elizabeth Lake Road, this business benefits from unparalleled visibility and high traffic counts, boasting 215 feet of frontage on Highland Road. The updated building features four offices and a dedicated storage room, providing ample space for operations and administrative functions. The 0.33-acre lot offers convenient access and ample space for customer parking and vehicle display. This is a unique investment opportunity, as Waterford Township has a limited number of permitted car dealerships, making this an exceptionally valuable asset. The sale includes both the real estate and the established business, with inventory negotiable. This prime location and established business provide a strong foundation for continued success and significant return on investment. The property's strategic positioning at a high-traffic intersection ensures maximum exposure and accessibility for customers. This is a turnkey operation ready for a new owner to step in and continue the legacy of this successful enterprise. Don't miss this chance to own a thriving business in a highly desirable and restricted location.

• CAP approach

  CAP return

  Valuation

  6%

  $188,231

  6.5%

  $173,752

  7%

  $161,341

• Comparable approach

  Method

  Valuation

  Relative Method

  $176,319

  Geo Method

  $176,319

• Alternative Use

  Use

  Valuation

  Residential

  $146,566

  Hospitality

  $134,254

  Educational

  $111,698

  Medical

  $115,539

  Retail

  $173,752

Location Insight

City

Waterford

County

Oakland

State

Michigan

Latitude

42.6398

Longitude

-83.3534

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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