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32756 Woodward Ave
Royal Oak, MI 48073
Retail Property For Sale
Investment Highlights
- Approximately 100,000 traffic count per day according to latest (2024) Michigan Traffic AADT (Trunkline) Data
- Newer roof, somewhat open floor plan on second floor
- Municipal Parking in Front/ Private Parking in Rear (note 4 car parking parking is private in rear/multiple public parking in front)
Executive Summary
Great opportunity to own a commercial property on Woodward Avenue just south of Birmingham, offering strong visibility and steady traffic along one of Metro Detroit’s most recognized commercial corridors. This two-level building offers flexibility for a variety of potential uses including retail, office, or service-based businesses depending on the buyer’s needs. The property sits in a small retail strip next to a restaurant and includes rear parking for customers and staff. The two-story layout creates several possibilities, including potential for separate spaces or a duplex-style setup depending on local approvals. Recent updates include a newer furnace and roof, helping reduce immediate capital expenses for the next owner. The space is currently occupied by Fashion Eyeglass, though the lease will terminate upon sale, allowing the next owner the flexibility to occupy the property or establish a new tenant depending on their plans.
Property Facts Under Contract
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
2,384 SF
Building Class
C
Year Built
1955
Price
$398,019 CAD
Price Per SF
$166.95 CAD
Cap Rate
8%
NOI
$31,842 CAD
Tenancy
Single
Building Height
2 Stories
Slab To Slab
8’
Building FAR
1.07
Lot Size
0.05 AC
Zoning
201-Business Improved - General Retail. Possible residence on second floor with city approval of special use zoning plan-check with City of Royal Oak.
Parking
4 Spaces (1.68 Spaces per 1,000 SF Leased)
Frontage
24’ on Woodward Ave
Amenities
- Storage Space
- Air Conditioning
Property Taxes
| Parcel Number | 25-06-128-020 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $263,792 CAD |
Property Taxes
Parcel Number
25-06-128-020
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$263,792 CAD
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