29820 9 Mile RdFarmington Hills, MI 48336

Property Details for 29820 9 Mile Rd

Year built

1950

Lot size

0.40 AC

Property size (Sq ft)

3,147 SF

Zone code

II

Property type

Auto shops

APN

22-23-26-482-001

APU

222326482001

Description

This exceptional commercial property, located at 29820 W 9 Mile Road in Farmington Hills, Michigan, presents a unique investment opportunity. Priced at $269,000, the property encompasses two buildings situated on a substantial lot measuring approximately 315 x 154 x 350 feet. The larger building boasts 2,400 square feet of space, featuring 40 x 60 foot dimensions, two overhead doors, and 18-foot ceilings. Recent improvements include a newer roof and gutters. While the interior requires finishing to suit a specific use, the structure offers significant potential. The second building adds 767 square feet of usable space with an open floor plan. The property's zoning allows for a variety of uses, including auto repair, car wash, detailing, storage, and potentially a used car lot. Its prime location at the busy intersection of 9 Mile and Shiawasse Roads offers excellent visibility and accessibility. The property benefits from its proximity to a major shopping center anchored by Target, Edge Fitness Club, and Dunham's Sports, ensuring high traffic volume and customer exposure. The total square footage of both buildings is 3,147 square feet. All dimensions are approximate. This property is ideal for an investor seeking a versatile commercial space in a thriving location. The property is located in Oakland County, Michigan, zip code 48336.

• CAP approach

  CAP return

  Valuation

  6%

  $791,931

  6.5%

  $731,013

  7%

  $678,798

• Comparable approach

  Method

  Valuation

  Relative Method

  $741,813

  Geo Method

  $741,813

• Alternative Use

  Use

  Valuation

  Residential

  $616,637

  Hospitality

  $564,836

  Educational

  $469,937

  Medical

  $486,099

  Retail

  $731,013

Location Insight

City

Farmington Hills

County

Oakland

State

Michigan

Latitude

42.4563

Longitude

-83.3415

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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