Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    5318 Alter Rd Detroit, MI 48224

    Picture of Grocery and convenience stores at Alter Rd 5318, Detroit, MI
    For Sale
    $160,000

    Real Estate Only - Detroit, MI

    Property size:
    2,432 SF
    Lot size:
    0.12 Acres
    Days on Market:
    86
    Last Refresh:
    Dec 14 at 3:06 am

    Property Features for 5318 Alter Rd

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Commercial,Office
    APN
    21062955
    Size
    2,432 SF
    Lot size
    0.12 Acres

    Building Details

    Year built
    1988
    Building materials
    Block, Brick
    Architectural style
    Other

    S&P Realty (313) 454-8608 [email protected]

    Listing agent Shane Parker (734) 333-7219

    Listing date Sep 20, 2025

    MLS# 20251001440 Listing URL

    Copyright © 2025 Realcomp Limited II. 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 Retail Building For Sale

    This commercial building, previously operated as a party store since 1988, is available for purchase. The property is in good condition and compliant with city codes and regulations, presenting a turnkey opportunity. The 2,432 square-foot store includes 15 walk-in cooler doors, a newer rooftop HVAC system, and a newer hot water tank. The roof is seven years old. The sale includes all shelving, countertops, and a new cooling compressor. The parking area has recently been repaved. On-site and street parking are available. The property is zoned for commercial and office use and is located on a 0.12-acre lot. Tenants are currently on a month-to-month lease. The store closed in April 2017 but had been a profitable business for nearly three decades. The property is located in Detroit, MI.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Grocery and convenience stores

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Detroit
    County
    Wayne
    State
    Michigan
    Longitude
    -82.9565086
    Latitude
    42.4002073

    Nearby Similar for Sale

    • New
      $4,500,000
      48,336 SF

      Detroit Multifamily Investment Opportunity

      Sixty-unit apartment complex near Dearborn, MI, with Section 8 tenants.
      15860 Joy Rd, Detroit, MI 48228
      View Details
    • $4,500,000
      36,221 SF

      Detroit Multifamily Investment Opportunity

      Sixty-unit multifamily property in Detroit's Oakman Boulevard neighborhood.
      15860 Joy Rd, Detroit, MI 48228
      View Details
    • $2,238,350
      24,912 SF

      Detroit Investment Property Package Deal

      Package deal featuring tenant-occupied and vacant homes in Detroit.
      326 Eastlawn St, Detroit, MI 48215
      View Details
    • $425,000
      6,616 SF

      Farwell Commercial/Industrial Property For Sale

      Office, business center, and bay garages in Farwell, Michigan.
      2655 W Ludington Dr, Farwell, MI 48622
      View Details
    • $345,000
      0.12 Acres

      Detroit Duplex in Boston-Edison

      Well-maintained duplex with strong rental potential in Historic Boston-Edison.
      1665 Atkinson St, Detroit, MI 48206
      View Details
    • $1,499,000
      3,800 SF

      Turn-Key Dispensary on Large Lot

      Fully licensed dispensary with drive-thru and ample parking for sale.
      5540 E 8 Mile Rd E, Detroit, MI 48091
      View Details

    FAQs

    What type of property is this?
    Grocery and convenience store - Well-maintained commercial building with a proven track record in a high-traffic area.
    Where is this grocery and convenience store located?
    The property is located at 5318 Alter Rd Detroit, MI.
    What is the asking price?
    The asking price for this property is $160,000.
    What are key features of this property?
    This property features: - Turnkey commercial building, formerly a successful party store since 1988.; - Features **15 walk-in cooler doors**, ideal for storage and display.; - Newer rooftop HVAC system and hot water tank.
    (734) 333-7219
    Request Owner's contact information
    5318 Alter Rd Detroit, MI 48224
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    5318 Alter Rd
    Detroit, MI 48224
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    5318 Alter Rd Detroit, MI 48224
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.