Mixed-Use Multi-Structure
3003 E Grand Boulevard Detroit, MI 48202
3003 E Grand Boulevard, Detroit, MI, 48202
$735,000
For Sale
$735,000
Three separate structures on one parcel with SB2 zoning support flexible mixed-use development in Detroit.
Property Size5,948 SF
Price / SF$123.57
Days on Market14
Property Features for 3003 E Grand Boulevard
General Information
- Standard status
- Active
- Size
- 5,948 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1874
Listing agency
Clyde Realty LLC
(313) 879-8386
Listed by
Ian Breck · License #6501453223
Source
Eliterealtymi
Added: Jul 9 Updated: Jul 22 at 2:15AM Checked: Jul 22 at 2:15AM
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
Investment Insights
Based on property information with market context.
3003 E Grand Boulevard is a multi-structure property on a single parcel, featuring a historic residence built in 1874, a warehouse, and a workshop. The residence is 2,340 sq ft, the warehouse is 2,488 sq ft, and the workshop is 1,120 sq ft, providing distinct spaces for a range of development or operational layouts.
The property is zoned SB2 and is described as offering flexibility with a wider range of permitted uses than many traditional zoning classifications. The public remarks indicate potential for a bar or restaurant without the typical parking requirements, as well as live/work spaces with light manufacturing. The listing also notes walkability and neighborhood-oriented development considerations.
The combination of a residential structure plus industrial-style warehouse and workshop spaces creates a practical configuration for creative mixed-use plans, with each building offering its own footprint for future programming.
The property is zoned SB2 and is described as offering flexibility with a wider range of permitted uses than many traditional zoning classifications. The public remarks indicate potential for a bar or restaurant without the typical parking requirements, as well as live/work spaces with light manufacturing. The listing also notes walkability and neighborhood-oriented development considerations.
The combination of a residential structure plus industrial-style warehouse and workshop spaces creates a practical configuration for creative mixed-use plans, with each building offering its own footprint for future programming.
Key Highlights
- Three separate structures on one parcel in Detroit
- Historic residence built in 1874 with 2,340 sq ft
- Warehouse on‑site with 2,488 sq ft
Local Financial Insights For Office B
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 | $104.2k | $17.52 |
| − Vacancy | −$23.9k | −$4.01 |
| EGI | $80.3k | $13.51 |
| − OpEx | −$20.1k | −$3.38 |
| NOI | $60.3k | $10.13 |
5,948 SF · lease $17.52/SF/yr · vacancy 22.90% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.12M
$981.2K – $1.31M
NOI $78,494 @ 7.0% cap · market cap 10.68%
Second Best
Mixed Use
$1.01M
$883.3K – $1.18M
NOI $70,662 @ 7.0% cap · market cap 9.61%
Theoretical Best
Office A
$1.31M
$1.15M – $1.53M
NOI $91,851 @ 7.0% cap · market cap 12.50%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Live-work space
Similar For Sale Nearby
FAQs
What type of property is this?
Live-work space - Three separate structures on one parcel with SB2 zoning support flexible mixed-use development in Detroit.
Where is this live-work space located?
The property is located at 3003 E Grand Boulevard Detroit, MI.
What is the asking price?
The asking price for this property is $735,000.
What are key features of this property?
This property features: Three separate structures on one parcel in Detroit; Historic residence built in 1874 with 2,340 sq ft; Warehouse on‑site with 2,488 sq ft
