22856 Orchard Lake RdFarmington, MI 48336

Property Details for 22856 Orchard Lake Rd

Year built

1957

Lot size

0.16 AC

Property size (Sq ft)

3,381 SF

Zone code

C2

Property type

Retail space

APN

20-23-26-351-002

APU

202326351002

Description

This exceptional 3,381 square foot retail property, located at 22856 Orchard Lake Road in Farmington, Michigan, presents a unique owner-user opportunity. The building, situated on a highly visible corner lot, boasts a recently renovated (2020) contemporary showroom interior, ideal for a variety of retail or office uses. The property features a convenient rear storage area with the potential for adding a roll-up door, enhancing functionality and logistics. Benefit from prominent monument signage, ensuring maximum visibility to passing motorists on Orchard Lake Road, just south of the signalized intersection with Shiawassee Street and north of Grand River. The C-2, Community Commercial zoning allows for diverse business applications. The single-story building offers ample space and easy accessibility. Access to Shiawassee Street is also available via a rear alley. This vacant property is priced at $499,000, translating to $147.59 per square foot. The APN is 23-26-351-002. This prime location and versatile space make it an attractive investment for discerning buyers. Don't miss this chance to own a well-positioned commercial property in a thriving area.

• CAP approach

  CAP return

  Valuation

  6%

  $850,816

  6.5%

  $785,369

  7%

  $729,271

• Comparable approach

  Method

  Valuation

  Relative Method

  $796,972

  Geo Method

  $796,972

• Alternative Use

  Use

  Valuation

  Residential

  $662,488

  Hospitality

  $606,835

  Educational

  $504,880

  Medical

  $522,243

  Retail

  $785,369

Location Insight

City

Farmington

County

Oakland

State

Michigan

Latitude

42.4594

Longitude

-83.3562

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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