Mixed-Use Commercial
7353 Gratiot Ave Detroit, MI 48213
7353 Gratiot Ave, Detroit, MI, 48213
$199,900
For Sale
$199,900
Commercial building includes former beauty salon space plus an upper two-bedroom apartment and an adjacent included lot.
Property Size1,564 SF
Price / SF$127.81
Days on Market95
Property Features for 7353 Gratiot Ave
General Information
- Standard status
- Active
- Size
- 1,564 SF
Listing agency
A Star National Realty
(313) 863-3300
Listed by
Juan P Clavon · License #6501167540
(313) 863-3300
Source
Exprealty
Added: Apr 18 Updated: Jul 20 at 7:34PM Checked: Jul 20 at 7:34PM
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 A Star National Realty
Investment Insights
Based on property information with market context.
This mixed-use property includes a spacious commercial building that was previously used as a beauty salon. The layout also features an upper two-bedroom apartment with a separate entrance, providing independent access between the commercial and residential components. A lot addressed as 7359 next to the building is included in the sale.
The property is located at 7353 Gratiot Ave in Detroit, MI. The included adjacent lot expands the overall site footprint beyond the main building.
Overall, the asset offers multiple business and living arrangements within one property, supported by the separate-entry apartment above the commercial space.
The property is located at 7353 Gratiot Ave in Detroit, MI. The included adjacent lot expands the overall site footprint beyond the main building.
Overall, the asset offers multiple business and living arrangements within one property, supported by the separate-entry apartment above the commercial space.
Key Highlights
- Commercial building with former beauty salon space
- Upper two‑bedroom apartment with separate entrance
- Adjacent included lot included in the sale (address: 7359)
Local Financial Insights For Apartment 5plus
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 | $31.9k | $20.40 |
| − Vacancy | −$2.1k | −$1.33 |
| EGI | $29.8k | $19.07 |
| − OpEx | −$13.4k | −$8.58 |
| NOI | $16.4k | $10.49 |
1,564 SF · lease $20.40/SF/yr · vacancy 6.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$234.4K
$205.1K – $273.5K
NOI $16,407 @ 7.0% cap · market cap 8.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$345.0K
$301.9K – $402.5K
NOI $24,152 @ 7.0% cap · market cap 12.08%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Spa & wellness properties
Similar For Sale Nearby
FAQs
What type of property is this?
Spa & wellness property - Commercial building includes former beauty salon space plus an upper two-bedroom apartment and an adjacent included lot.
Where is this spa & wellness property located?
The property is located at 7353 Gratiot Ave Detroit, MI.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: Commercial building with former beauty salon space; Upper two‑bedroom apartment with separate entrance; Adjacent included lot included in the sale (address: 7359)
