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    16501-16561 Greenfield Rd Detroit, MI 48235

    For Sale
    $1,299,900

    Multi Family - FL

    Type:Single Family Attached
    Days on Market:
    108
    Last Refresh:
    Dec 11 at 3:06 am

    Property Features for 16501-16561 Greenfield Rd

    General Information

    Property type
    Commercial Sale
    Property subtype
    Single Family Attached
    Standard status
    Active

    Building Details

    Architectural style
    Other

    Eagle Realty LLC d/b/a Keller Williams Eagle Realty (305) 757-1700 [email protected]

    Listing agent Justin Zehel (305) 757-1700 License #3598465

    Listing date Aug 26, 2025

    MLS# A11807936 Listing URL

    Copyright © 2025 Miami Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    56-Unit Multifamily Investment Opportunity

    This is an investor special featuring a 56-unit complex. The property is being listed individually but can be sold as a package with other properties. The complex is 100% vacant, presenting an add-value opportunity. The roofs are in good condition, and most windows have been updated. The unit mix consists of one and two-bedroom units, primarily one-bedroom, one-bath layouts. The units require renovation and tenant placement. Greenfield Road is a main thoroughfare connecting the city to the suburbs, with city bus service available. Ample parking is provided. Seller financing is available with 50% down. Cash buyers are preferred. The property is located at 16501-16561 Greenfield in Detroit, FL 48235.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Detroit
    County
    Wayne
    State
    Michigan
    Longitude
    -83.1995224
    Latitude
    42.4109509

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    FAQs

    What type of property is this?
    Apartment building - Vacant 56-unit complex, ideal for investors seeking value-add potential.
    Where is this apartment building located?
    The property is located at 16501-16561 Greenfield Rd Detroit, MI.
    What is the asking price?
    The asking price for this property is $1,299,900.
    What are key features of this property?
    This property features: - Significant investment potential with this 56-unit complex.; - 100% vacant, presenting immediate value-add opportunities.; - Good roofs and mostly updated windows, reducing initial renovation costs.
    (305) 757-1700
    Request Owner's contact information
    16501-16561 Greenfield Rd Detroit, MI 48235
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    16501-16561 Greenfield Rd Detroit, MI 48235
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