33466 8 Mile RdFarmington, MI 48335

Property Details for 33466 8 Mile Rd

Year built

1995

Lot size

0.91 AC

Property size (Sq ft)

7,807 SF

Zone code

BI

Property type

Medical offices

Property subtype

Medical centers

APN

22-23-33-477-023

APU

222333477023

Description

This exceptional 7,807 square foot industrial building is situated on a 0.91-acre lot at 33466 W 8 MILE in Farmington, Michigan. The property boasts a prime location on a busy street, offering excellent visibility and accessibility. The substantial brick structure is exceptionally well-maintained and presents a significant investment opportunity. Currently configured as a single unit, the building's layout allows for flexible adaptation, easily divisible into 3-4 separate units, making it perfect for multiple medical practices or a variety of office uses. A key feature is the inclusion of a dedicated x-ray room complete with lead shielding, catering to medical tenants. Ample parking is available in the large on-site lot. The property's proximity to downtown Farmington further enhances its appeal. The asking price for this turnkey property is $1,199,000. Lease options are also available. This is a rare opportunity to acquire a well-located, versatile industrial building with significant potential for growth and return on investment. The building's size, features, and location make it an attractive prospect for a wide range of businesses.

• CAP approach

  CAP return

  Valuation

  6%

  $1,336,464

  6.5%

  $1,233,659

  7%

  $1,145,541

• Comparable approach

  Method

  Valuation

  Relative Method

  $730,267

  Geo Method

  $730,267

• Alternative Use

  Use

  Valuation

  Residential

  $1,529,738

  Hospitality

  $1,401,231

  Educational

  $1,165,808

  Medical

  $1,205,902

  Retail

  $1,813,479

Location Insight

City

Farmington

County

Oakland

State

Michigan

Latitude

42.4411

Longitude

-83.3776

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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