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Property profile

12038 Grand Riv Ave Detroit, MI 48204

OFF-MARKET
Office buildings
Property ID
US43-1387564
5,856 SF 0.41 ac lot Built 1940
Individually Owned 11-yr Hold Free & Clear
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Property summary

AI-generated overview

The property consists of two limestone buildings in Detroit, Michigan, located at 12038–12000 Grand River Ave., with a combined area of 10,256 square feet. The first building contains 5,856 square feet and is situated at the corner of Wyoming Ave. and Grand River Ave.; it has been used as a community center. The second building contains 4,400 square feet and is situated at the corner of Grand River Ave. and Kentucky St.; it serves as a religious sanctuary. The 5,856-square-foot limestone structure previously functioned as office space for a banking use and features two walk-in vaults. The sanctuary building seats approximately 150 people and includes a fellowship hall, kitchen, three restrooms, one classroom, two offices, and an audio room. An alarm system is installed, and both spaces are air-conditioned and maintained.

Property profile

Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 1940
Total area 5,856 SF
Lot 0.41 ac (17,860 SF)
Zoning code B4
APN 16005066-71
UPID US43-1387564

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

12038 Grand Riv Ave Detroit, MI 48204-1836
Detroit metro Census 534200 DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
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CAP Approach CAP
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Comparable Approach Comparable
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Blend (final) Blend
$360k

Owner & transaction history

since 2015
1 recorded transaction
2015
Price N/A

Zoning & alternative use

B4 · Detroit, MI
Zoning description

), eff. 5-28-2005) Sec. 50-7-3. - Business Districts. Business districts within the City are as follows: (1) B1 Restricted Business District. (2) B2 Local Business and Residential District. (3) B3 Shopping District. (4)…

General category COMMERCIAL

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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