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    1432 Gratiot Ave Detroit, MI 48207

    Sponsored
    For Sale
    $650,000

    Prime Eastern Market Location, High ROI Potential

    Property size:
    5,476 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    338
    This exceptional 5,476 square foot industrial property, situated on a 0.05-acre lot at 1432 Gratiot in Detroit, Michigan, presents a compelling investment opportunity. The building, a historically significant four-unit structure located in the vibrant Eastern Market district, offers significant value-add potential. Currently configured as four apartments, the property boasts unique architectural details. The two second-floor units feature a desirable loft style with exposed brick, hardwood floors, and abundant natural light. The two first-floor units, originally storefronts, retain their original tin ceilings and have been converted into apartments, each with a full basement. This versatile layout allows for a variety of uses. A new owner could maintain the existing apartment configuration, or capitalize on the ground floor's potential for commercial use, integrating a business into the Eastern Market's thriving environment. The building is in excellent condition and is ready for immediate occupancy. The property is being sold "as is," with all terms and conditions subject to buyer's verification and acceptance. Highest and best offers are due by February 4th, 2025, at 5:00 PM. This is a rare chance to acquire a well-maintained, historically significant property in a prime Detroit location with strong potential for a high return on investment.

    Property Features for 1432 Gratiot Ave

    General Information

    Property type
    Industrial properties
    Square Feet
    5,476 SF
    Lot Size
    2,178 SF

    Building Details

    Year Built
    1919
    Property Profile Location Intelligence

    Current Use by Public Records

    Industrial properties

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Detroit
    County
    Wayne
    State
    Michigan
    Longitude
    -83.03812
    Latitude
    42.34389

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    FAQs

    What type of property is this?
    Industrial property - Prime Eastern Market Location, High ROI Potential
    Where is this industrial property located?
    The property is located at 1432 Gratiot Ave Detroit, MI.
    What is the asking price?
    The asking price for this property is $650,000.
    (313) 974-1830
    Request Owner's contact information
    1432 Gratiot Ave Detroit, MI 48207
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    Detroit, MI 48207
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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
    1432 Gratiot Ave Detroit, MI 48207
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