Mixed-Use Property with
2831 E Grand, Detroit, MI 48203
For Sale
$1,050,000
The retail component is leased, and the property includes office and production space.
Property Size6,638 SF
Price / SF$158.18
Days on Market108
Property Features for 2831 E Grand
General Information
Standard status
Size
Property subtype
Zoning
Site & Location
Neighborhood
Mixed-Use Components
Additional Details
Tenant in Place
Property Use
Building Details
Year Renovated
Building Size
Listing Agency:
Clyde Realty LLC
(313) 949-7191
Listed By:
Alex Lauer · License MI #6501387117
(313) 974-1830
Source:
Jabachler
Added: Jul 28
Changed: Nov 11
Last Checked: Nov 12 at 1:35AM
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 Clyde Realty LLC
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 6,638-square-foot mixed-use property in Milwaukee Junction was renovated in 2020. Its warehouse area contains a cyclorama, with office space connected to it; the retail portion is currently leased.
Key Highlights
- 6,638‑square‑foot mixed‑use property
- Renovated in 2020
- Warehouse area includes a cyclorama
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$81,760
Cap Rate
7.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,635,200
$1.6M
Cap Rate 7%
$1,168,000
$1.2M
Cap Rate 9%
$908,444
$908.4K
Market Conditions
NOI Build-Up for 6,638 SF
Gross rent
$123.5K $18.60/SF
− Vacancy
−$6.7K −$1.00/SF
EGI
$116.8K $17.60/SF
− OpEx
−$35.0K −$5.28/SF
NOI
$81.8K $12.32/SF
Area
Detroit, MI
Vacancy
5.40%
Lease Rate
$18.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,635,200
Cap Rate 7%
$1,168,000
Cap Rate 9%
$908,444
Alternative Uses
Best Use
Retail
$1.17M
$1.02M – $1.36M
NOI $81,760 @ 7.0% cap · market cap 7.79%
Second Best
Mixed Use
$1.13M
$985.7K – $1.31M
NOI $78,859 @ 7.0% cap · market cap 7.51%
Theoretical Best
Office A
$1.46M
$1.28M – $1.71M
NOI $102,506 @ 7.0% cap · market cap 9.76%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
448
Businesses Nearby
Explore this area
Business Placement
Demographics for 48203, MI
22,168
Population
13,591
Households
1.6
Avg Household Size
39
Median Age
19%
College-Educated
85%
High-School Grad
8.2 sq mi
ZIP Area
2,703
Density / Sq Mi
$35,108
Median Household Income
$28,364
Median Earnings
$799
Median Rent
$76,100
Median Home Value
Market
Average Price Trend$/SF for Mixed-use properties in Detroit, MI
Properties on Market for Mixed-use properties in Detroit
Vacancy Rate% for Office in Detroit, MI
Frequently Asked Questions
What type of property is this?
Mixed-use property - The retail component is leased, and the property includes office and production space.
Where is this mixed-use property located?
The property is located at 2831 E Grand Detroit, MI.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: 6,638‑square‑foot mixed‑use property; Renovated in 2020; Warehouse area includes a cyclorama
