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    2500 Alter Rd Detroit, MI 48215

    For Sale
    $385,000

    Commercial/Industrial - Detroit, MI

    Property size:
    1,420 SF
    Lot size:
    0.83 Acres
    Days on Market:
    116
    Last Refresh:
    Dec 8 at 5:06 am

    Property Features for 2500 Alter Rd

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    21062762.
    Size
    1,420 SF
    Lot size
    0.83 Acres

    Building Details

    Year built
    1924
    Architectural style
    Other

    Sine & Monaghan, Realtors (313) 884-7000 [email protected]

    Listing agent Michael DeFauw (313) 884-7000 License #6501387091

    Listing date Aug 15, 2025

    MLS# 50185410 Listing URL

    Copyright © 2025 Multiple Listing Service MiRealSource. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Detroit Land Ready for Development

    This large parcel, consisting of seven vacant lots, presents an incredible business opportunity for development. The property borders Grosse Pointe Park and its amenities. Six contiguous parcels create a substantial development footprint, with an additional lot providing flexibility for various projects. A large brick structure with plumbing and electrical utilities is located on one of the lots. The property is suitable for residential housing, mixed-use space, or commercial ventures. The contiguous section allows for a unified site plan, while the separate lot offers possibilities such as additional parking, satellite retail space, or a standalone residential unit. The location provides access to a strong market with high demand, exceptional schools, vibrant shopping and dining, and easy access to waterfront recreation. The surrounding community is well-established, offering a built-in customer base. The property is zoned PD - Planned Development. Utilities are available, and the development options are numerous. The site is poised for growth with multiple large developments already in progress. The property contains 1420 square feet of living area and has a lot size of 0.83 acres.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store 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
    -82.9441907
    Latitude
    42.3824246

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    FAQs

    What type of property is this?
    Commercial land - Large parcel for development bordering Grosse Pointe Park.
    Where is this commercial land located?
    The property is located at 2500 Alter Rd Detroit, MI.
    What is the asking price?
    The asking price for this property is $385,000.
    What are key features of this property?
    This property features: - Prime location bordering Grosse Pointe Park, offering access to high demand market, exceptional schools, shopping, dining, and waterfront recreation.; - Six contiguous parcels create a substantial development footprint, allowing for a unified site plan.; - Zoned PD - Planned Development, providing flexibility for residential, mixed-use, or commercial projects.
    (313) 884-7000
    Request Owner's contact information
    2500 Alter Rd Detroit, MI 48215
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    Detroit, MI 48215
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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
    2500 Alter Rd Detroit, MI 48215
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