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    1461 Gratiot Ave Detroit, MI 48207

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    For Sale
    $2,300,000

    Prime location in Detroit's booming Eastern Market district.

    Lot size:
    0.08 Acres

    Property Features for 1461 Gratiot Ave

    General Information

    Lot size
    0.08 Acres

    Building Details

    Year built
    1915

    Source: National Realty Centers, Inc Agent Dennis Weese

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Historic Building in Eastern Market

    This commercial property for sale is located in the Eastern Market district and includes a historic building, business, and a parking lot. The sale encompasses the building and the business. Inventory is negotiable. The property is situated in a prime location within a booming district close to downtown Detroit. All measurements and dimensions are approximate.
    Insight Report Location Intelligence

    Current Use by Public Records

    Cheap Charlies Work Clothes Store Rosa Parks Mural ... Museum

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Nail Salon

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

    Similar Places Nearby

    Flowers for Dreams, Sweet Ambiance Events

    Location Insight

    • Map
    • Local Demand
    City
    Detroit
    County
    Wayne
    State
    Michigan
    Longitude
    -83.0380165
    Latitude
    42.3450198

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    FAQs

    What type of property is this?
    Storefront property - Prime location in Detroit's booming Eastern Market district.
    Where is this storefront property located?
    The property is located at 1461 Gratiot Ave Detroit, MI.
    What is the asking price?
    The asking price for this property is $2,300,000.
    What are key features of this property?
    This property features: - Prime location in the booming Eastern Market District.; - Includes building, business, and parking lot.; - Historic building built in 1915.
    (734) 635-1601
    Request Owner's contact information
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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
    1461 Gratiot Ave Detroit, MI 48207
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