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    17321 8 Mile Rd Detroit, MI 48235

    For Sale
    $1,500,000

    Prime Detroit location, 3,000 sq ft, redevelopment opportunity.

    Property size:
    3,000 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    309
    This exceptional 3,000 square foot industrial property, situated on a 0.18-acre lot at 17321 W 8 Mile in Detroit, Michigan, presents a unique investment opportunity. Currently configured as a liquor store, the property offers significant potential for redevelopment into a licensed recreational dispensary. The substantial square footage provides ample space for retail operations, storage, and potential expansion. The strategic location on W 8 Mile ensures high visibility and accessibility, placing the property within a bustling commercial corridor. This presents a rare chance to capitalize on the growing demand for recreational dispensaries in the Detroit market. The property's existing infrastructure provides a solid foundation for a swift and efficient conversion, minimizing upfront costs and maximizing return on investment. The 0.18-acre lot offers potential for future expansion or outdoor amenities. This is an exceptional opportunity for an investor seeking a high-return venture in a rapidly evolving market. The asking price is $1,500,000. Serious inquiries only.

    Property Features for 17321 8 Mile Rd

    General Information

    Property type
    Industrial properties
    Square Feet
    3,000 SF
    Lot Size
    7,841 SF

    Building Details

    Year Built
    1919
    Property Profile Location Intelligence

    Current Use by Public Records

    Industrial properties

    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
    -83.21543
    Latitude
    42.44409

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    FAQs

    What type of property is this?
    Industrial property - Prime Detroit location, 3,000 sq ft, redevelopment opportunity.
    Where is this industrial property located?
    The property is located at 17321 8 Mile Rd Detroit, MI.
    What is the asking price?
    The asking price for this property is $1,500,000.
    (248) 385-3350
    Request Owner's contact information
    17321 8 Mile Rd Detroit, MI 48235
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    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
    17321 8 Mile Rd Detroit, MI 48235
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