Redevelopment Property for Sale - Woodward Avenue, Royal Oak, MI

Vacant Land for Sale
Catylist Listing ID: 30144703
Property Subtypes: Hospitality, Office, Retail, Retail-Pad, Other
Gross Land Area: 0.29 Acres
Sale Price: $650,000
Unit Price: $2,241,379 Per Acre
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 11/27/2017

Overview / Comments

Located on Woodward Avenue (M-1) in the heart of Royal Oak, this property is prime for redevelopment. Zoned business, this property (currently home to the operating Saranay Motel) sits in one of southeast Michigan’s most famous retail corridors. Area retailers include Trader Joe’s, Westborn Market, Ulta Beauty, and well-known Royal Oak favorites like Vinsetta Garage. The site is easily accessible from Bassett Road and both northbound and southbound Woodward Avenue, thanks to the turnaround in front of the property. Just minutes from both downtown Royal Oak and I-696, the site is ideal for retail, office, or medical redevelopment.

Additional Details

Nearest MSA: Detroit-Warren-Dearborn
County: Oakland
Submarket/Township: Royal Oak Vicinity
Tax ID/APN: 25-17-278-002
Zoning: B-1
Property Located Between: 11 Mile Road and 12 Mile Road
Property Visibility: Excellent
Legal Description: T1N, R11E, SEC 17 VINSETTA PARK LOTS 59 TO 64 INCL & S 10 FT OF LOT 83, EXC PARTS TAKEN FOR WOODWARD AVE
Largest Nearby Street: Woodward Avenue
Feet of Frontage: 130
Traffic/Vehicle Count: 96
Highway Access: I-696 to the south; I-75 to the east
Site Description: Redevelopment Property Woodward Avenue, Just North of Catalpa Drive
Lot Frontage: 130
Lot Depth: 96
Zoning Description: B-1
Topography: Level
Available Utilities: Water, Sewer
Water Service: Municipal
Sewer Type: Municipal

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 19,502 172,176 428,956
Median Age: 39.76 38.61 39.48
Households: 9,032 77,474 181,078
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