1528 GRATIOT Avenue, Detroit, MI 48207
Three elevator-access lofts and a ground-floor retail space with commercial kitchen and liquor license option make this building flexible.
- Added:
- Sep 3, 2025
- Days on Market:
- 291
- Last Refresh:
- Jun 20 at 3:15 am
Property Features for 1528 GRATIOT Avenue
General Information
- Standard status
- Active
- Size
- 7,248 SF
- Property subtype
- Mixed Use, Multifamily, Land
Building Details
- Year Built
- 1907
Listing agent Katherine Kutscher License #6501449129
Listing office Real Estate One
Listing date Sep 3, 2025
Source Crexi
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 Real Estate One
HighLights
- Mixed‑use building built in 1907 with three elevator‑access residential lofts and a ground‑floor retail space
- Three lofts each feature 2 bedrooms and 2 bathrooms, currently used as successful Airbnb rentals
- Ground‑floor retail space includes a large storefront, fully equipped commercial kitchen, and an available liquor license option
- Lower level includes additional creative space with a convenient dumbwaiter
- Rooftop access is included
- Maintained interior highlights include high ceilings, original timber beams, large windows, and exposed brick
Overview
Located at 1528 Gratiot Avenue in Detroit’s Eastern Market area, the building is described as within easy walking distance of Eastern Market shops and restaurants. Convenient access to major highways is noted as well.
The ground-floor retail space features a large storefront and a fully equipped commercial kitchen, supporting uses such as a restaurant, bar, café, or gallery. The retail offering includes a liquor license, and the remarks state an option to purchase the liquor license, restaurant fixtures and furniture, and fully furnished lofts—creating a turn-key path for an operator who wants to combine street-level food and beverage activity with upstairs furnished residential rentals.
Local Financial Insights For Specialty 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 | $134.8k | $18.60 |
| − Vacancy | −$7.3k | −$1.00 |
| EGI | $127.5k | $17.60 |
| − OpEx | −$31.9k | −$4.40 |
| NOI | $95.6k | $13.20 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Detroit
- County
- Wayne
- State
- Michigan
- Longitude
- -83.0369655
- Latitude
- 42.3454017
