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Gratiot Avenue Mixed-Use Building

1494 Gratiot Ave, Detroit, MI 48207

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For Sale

$600,000

Two-story, fully occupied mixed-use building near Eastern Market.

Type:Commercial

Property size:

2,930 SF

Lot size:

0.03 Acres

Price / SF:

$204/SF

HighLights

Prime corner location on Gratiot's commercial corridor.
Fully occupied, cash‑flowing investment property.
Anchored by established neighborhood cafe (La Ventana Cafe).
Significant investment in MEP systems and facade.
Walking distance to Eastern Market and Downtown Detroit.
Part of a large collection of properties for sale in Eastern Market.

We can help!

Contact an agent

Vincent Mazzola

For Sale

$600,000

Two-story, fully occupied mixed-use building near Eastern Market.

Type:Commercial

Property size:

2,930 SF

Lot size:

0.03 Acres

Price / SF:

$204/SF

Added:: Mar 12, 2026
Days on Market:: 119
Last Refresh:: Jul 2 at 9:47 am

Property Features for 1494 Gratiot Ave

General Information

Standard status: Active
Size: 2,930 SF
Lot size: 0.03 Acres
Property subtype: Commercial

Building Details

Year Built: 1918

We can help!

Contact an agent

Vincent Mazzola

Listing office O'Connor Real Estate

Listing date Mar 12, 2026

Source Elliman

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 O'Connor Real Estate

HighLights

Prime corner location on Gratiot's commercial corridor.
Fully occupied, cash‑flowing investment property.
Anchored by established neighborhood cafe (La Ventana Cafe).
Significant investment in MEP systems and facade.
Walking distance to Eastern Market and Downtown Detroit.
Part of a large collection of properties for sale in Eastern Market.

Overview

Located on a highly visible corner of Gratiot's commercial corridor, this two-story, 2,930-square-foot mixed-use building is an investment property. The property is fully occupied and anchored by La Ventana Cafe. The building has had significant investment into its MEP systems and facade. This property is a cashflowing asset within walking distance of Eastern Market and Downtown Detroit.

Local Financial Insights For Specialty Retail

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$54.5k	$18.60
− Vacancy	−$2.9k	−$1.00
EGI	$51.6k	$17.60
− OpEx	−$12.9k	−$4.40
NOI	$38.7k	$13.20

2,930 SF · lease $18.60/SF/yr · vacancy 5.40% · expense 25.00%

Alternative Uses

Best Use

Specialty Retail

$552.4K

$483.3K – $644.4K (±1% cap)

NOI $38,666 @ 7.0% cap · market cap 6.44%

Second Best

Mixed Use

$497.3K

$435.1K – $580.1K (±1% cap)

NOI $34,808 @ 7.0% cap · market cap 5.80%

Theoretical Best

Office A

$646.4K

$565.6K – $754.1K (±1% cap)

NOI $45,246 @ 7.0% cap · market cap 7.54%

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

Property Profile Location Intelligence

Current Use by Public Records

Conventional restaurants

Suggested Use

Location Insight

Map
Local Demand

City: Detroit
County: Wayne
State: Michigan
Longitude: -83.0375
Latitude: 42.3447

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For sale
Mixed-use properties
MI
Detroit
48207
1494 Gratiot Ave

What type of property is this?

Mixed-use property - Two-story, fully occupied mixed-use building near Eastern Market.

Where is this mixed-use property located?

The property is located at 1494 Gratiot Ave Detroit, MI.

What is the asking price?

The asking price for this property is $600,000.

What are key features of this property?

This property features: Prime corner location on Gratiot's commercial corridor.; Fully occupied, cash‑flowing investment property.; Anchored by established neighborhood cafe (La Ventana Cafe).