Three-Story Retail
1461-1473 Gratiot Ave Detroit, MI 48207
For Sale
$1,795,000
Three-story retail building just off I-75 in Eastern Market, offering flexible space for storefront concepts.
Property Size10,264 SF
Price / SF$174.88
Days on Market57
Property Features for 1461-1473 Gratiot Ave
General Information
Standard status
Active
Size
10,264 SF
Property subtype
Retail
Building Details
Year Built
1915
Listing Agency:
Signature Associates - Southfield
(248) 948-0107
Listed By:
Christopher J. Monsour
(248) 948-0107
Source:
Cpix.resimplifi
Added: Jun 2
Changed: Jul 10
Last Checked: Jul 28 at 3:12PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Signature Associates - Southfield
Investment Insights
Based on property information with market context.
The property is a three-story retail building comprising storefront and retail space. It is offered for sale as a multi-level asset designed to support multiple retail uses within a single building structure.
Located on Gratiot Ave in Detroit’s Eastern Market area, the building sits just off I-75, providing convenient vehicular access for customers and tenants. The listing highlights its placement in a well-known commercial corridor.
This configuration can work for operators looking for retail presence in a multi-level format, whether for a single flagship concept or multiple storefront tenants. As a for-sale investment, it also appeals to buyers seeking a straightforward retail building opportunity in a defined market location with direct freeway adjacency.
Located on Gratiot Ave in Detroit’s Eastern Market area, the building sits just off I-75, providing convenient vehicular access for customers and tenants. The listing highlights its placement in a well-known commercial corridor.
This configuration can work for operators looking for retail presence in a multi-level format, whether for a single flagship concept or multiple storefront tenants. As a for-sale investment, it also appeals to buyers seeking a straightforward retail building opportunity in a defined market location with direct freeway adjacency.
Key Highlights
- 3‑story retail building located just off I‑75 in Eastern Market
- Year built: 1915
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $190.9k | $18.60 |
| − Vacancy | −$10.3k | −$1.00 |
| EGI | $180.6k | $17.60 |
| − OpEx | −$54.2k | −$5.28 |
| NOI | $126.4k | $12.32 |
10,264 SF · lease $18.60/SF/yr · vacancy 5.40% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.81M
$1.58M – $2.11M
NOI $126,421 @ 7.0% cap · market cap 7.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.26M
$1.98M – $2.64M
NOI $158,499 @ 7.0% cap · market cap 8.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Similar Off Market Nearby
- Flowers for Dreams — 1490 Gratiot Ave, Detroit, MI 48207
- Sweet Ambiance Events — 1442 Brush St, Detroit, MI 48226
Frequently Asked Questions
What type of property is this?
Storefront property - Three-story retail building just off I-75 in Eastern Market, offering flexible space for storefront concepts.
Where is this storefront property located?
The property is located at 1461-1473 Gratiot Ave Detroit, MI.
What is the asking price?
The asking price for this property is $1,795,000.
What are key features of this property?
This property features: 3‑story retail building located just off I‑75 in Eastern Market; Year built: 1915
