150 Washington StOxford, MI 48371

Property Details for 150 Washington St

Year built

1940

Lot size

0.47 AC

Property size (Sq ft)

5,090 SF

Zone code

BI

Property type

Retail space

APN

PO-04-27-279-043

APU

PO0427279043

Description

This exceptional 5,090 square foot commercial property in Oxford, MI, presents a prime investment opportunity. Strategically located on high-traffic M-24 in the heart of downtown, this extensively renovated building offers unparalleled versatility. Completed in 2023, the renovations transformed this 1.5-story space into a turnkey operation, currently configured as a restaurant. The C-2 zoning allows for a wide range of business uses. The property features a sophisticated layout, including an upper mezzanine with a private bathroom, presenting potential for separate unit development. Ample parking is available on-site for 20+ vehicles, with overflow parking nearby. High-end commercial amenities are in place, including a walk-in cooler, commercial-grade sinks, and fully equipped food preparation areas. The 0.47-acre lot provides convenient access and visibility. This fully updated space represents a rare chance to own a thriving commercial property in Oxford's vibrant downtown, offering significant potential for various business ventures at a compelling price of $560,000. The combination of location, recent renovations, and flexible zoning makes this a truly unique opportunity.

• CAP approach

  CAP return

  Valuation

  6%

  $1,280,880

  6.5%

  $1,182,350

  7%

  $1,097,897

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,199,819

  Geo Method

  $1,199,819

• Alternative Use

  Use

  Valuation

  Residential

  $997,357

  Hospitality

  $913,573

  Educational

  $760,082

  Medical

  $786,223

  Retail

  $1,182,350

Location Insight

City

Oxford

County

Oakland

State

Michigan

Latitude

42.8187

Longitude

-83.2589

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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