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    4438 Grand River Ave Detroit, MI 48208

    Sponsored
    For Sale
    $390,000

    Prime Detroit land, multiple sizes, development potential.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    399
    This exceptional offering presents three distinct parcels of vacant land in Detroit's vibrant Woodbridge neighborhood. The properties, located along Grand River Avenue between Forest and Calumet, range in size from 0.78 to 3.78 acres. Their strategic location offers unparalleled proximity to downtown Detroit and Wayne State University, enhancing their development potential. The site is adjacent to a recently completed $19.57 million, 60-unit mixed-income residential development at 4401 Rosa Parks, indicating a strong commitment to neighborhood revitalization. The land is zoned SD-1, encouraging a mix of small-scale, pedestrian-oriented uses compatible with a neighborhood setting. This zoning promotes transit and non-motorized transportation, with reduced parking requirements in certain circumstances. Shared parking is encouraged, and establishments serving alcohol on-premises are permitted without spacing restrictions to stimulate pedestrian activity. The rich history of Woodbridge, dating back to the 1870s, combined with its modern development, creates a unique opportunity. Furthermore, a potential buyer could explore acquiring additional adjacent city-owned parcels and unutilized streets and alleyways, expanding the development footprint. The asking price for this portfolio is $390,000. This is a rare chance to acquire prime land in a rapidly evolving and desirable area of Detroit.

    Property Features for 4438 Grand River Ave

    General Information

    Property type
    Land
    Lot Size
    33,977 SF

    HighLights

    • SD‑1 zoning allows for a mix of pedestrian‑friendly, transit‑oriented uses, promoting neighborhood character and walkability.
    • Reduced parking requirements encourage transit use and shared parking arrangements.
    • On‑premise alcohol sales are permitted to increase pedestrian traffic.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Detroit
    County
    Wayne
    State
    Michigan
    Longitude
    -83.0830482
    Latitude
    42.3464455

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    FAQs

    What type of property is this?
    Land - Prime Detroit land, multiple sizes, development potential.
    Where is this land located?
    The property is located at 4438 Grand River Ave Detroit, MI.
    What is the asking price?
    The asking price for this property is $390,000.
    What are key features of this property?
    This property features: SD-1 zoning allows for a mix of pedestrian-friendly, transit-oriented uses, promoting neighborhood character and walkability.; Reduced parking requirements encourage transit use and shared parking arrangements.; On-premise alcohol sales are permitted to increase pedestrian traffic.
    (313) 704-2678
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    4438 Grand River Ave Detroit, MI 48208
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