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Property profile & analytics
FOR SALE
Retail space
15390 Gratiot Ave, Detroit, MI 48205
Individually Owned
18-yr Hold
Absentee Owner
Free & Clear
Property ID
US43-4614252
For Sale
1 / 53
$245,000
15390 Gratiot Ave, Detroit, MI 48205
View Listing →
Property summary
AI-generated overview
This Class A, single-tenant retail property at 15390 Gratiot Ave, Detroit, MI 48205, offers 4,400 square feet of space in a high-demand area. The building, constructed in 1948 and renovated in 2015, sits on a 0.08-acre lot (APN: W21I028426C7) and features a single story. Zoned for commercial use, this property boasts a strong location near national chain stores. The building is comprised of two 2200 sq ft levels. A current lease with a sign company generates $6,000 annual income, effectively covering property taxes. The asking price is $249,900, with the business and inventory available for an additional $250,000. This presents a unique opportunity for investors seeking a well-maintained retail space in a thriving Detroit market. The property is privately owned.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1948
Total area
1,977 SF
Lot
0.08 ac (3,485 SF)
Zoning code
B4
APN
21028426-7
UPID
US43-4614252
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Chin's Wig Shop Clothing & Fashion Store (Bike/Boat/Book/etc) Store
-
Title Loans Detroit Co. by TFC iLoans Loan Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
CHIN C KIM
CHIN C KIM
Zoning & alternative use
B4 · Detroit, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Detroit submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Detroit submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2020Property tax & assessments
Tax year 2020
Tax billed
$3,012
Tax year 2020
Assessed value
$48,400
Assessed 2024
Previous assessed
$41,900
+15.5% YoY
Effective rate
6.22%
On assessed value
Total market value
$96,800
Applied tax rate
82,010.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
For Sale
Year built
1948
Heating
FORCED AIR
Buildings
1
Stories
1
Total area
1,977 SF
Lot
0.08 ac (3,485 SF)
Zoning code
B4
APN
21028426-7
UPID
US43-4614252
Jurisdiction
WAYNE
Metro division
DETROIT-LIVONIA-DEARBORN, MI METROPOLITAN DIVISION
Zoning & alternative use
B4 · Detroit, MI
Zoning B4 · permitted uses
B4 · Detroit, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Detroit. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1948
Heating
FORCED AIR
Stories
1
Buildings
1
Lot
0.08 ac
Current owner
From public records · entity-resolved
CHIN C KIM
Individual
Free & Clear · 0 yrs held
Mailing address
83 GREENBRIAR ST, GROSSE POINTE SHORES, MI 48236-1507
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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