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    8121 Gratiot Ave Detroit, MI 48213

    For Sale
    $295,000

    Prime Detroit location, 2,508 SF bank building.

    Property size:
    2,508 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    360
    This exceptional investment opportunity presents a 2,508-square-foot commercial building located at 8121 Gratiot Avenue in Detroit, Michigan, 48213. The property, built in 1971, is a single-story, Class C building situated on a 0.42-acre lot. Currently operating at 100% occupancy, this former bank branch offers significant potential for various retail or industrial uses. The building features a 12-foot ceiling height, providing ample vertical space. Zoned B-4, the property benefits from ample parking. The asking price is $295,000, translating to $117.62 per square foot. This represents a compelling investment opportunity in a high-traffic area of Detroit. The property's size, location, and existing infrastructure make it an ideal candidate for a variety of commercial ventures. Serious inquiries are encouraged to explore the possibilities of this well-positioned Detroit property. The building's single-tenancy status offers a streamlined ownership experience. Its history as a bank branch suggests a solid foundation and potential for adaptive reuse. The property's location on Gratiot Avenue provides excellent visibility and accessibility.

    Property Features for 8121 Gratiot Ave

    General Information

    Property type
    Individual retail properties
    Square Feet
    2,508 SF
    Class
    C
    Lot Size
    18,295 SF

    Building Details

    Year Built
    1971
    Buildings
    1
    Stories
    1

    HighLights

    • 2,508 square feet available.
    • 12' clear ceiling height.
    • Former bank branch, ideal for adaptive reuse.
    • Ample parking.
    • Sale price: $295,000 ($117.62/sq. ft.).
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Banks

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Food Market Grocery Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Detroit
    County
    Wayne
    State
    Michigan
    Longitude
    -83.0140231
    Latitude
    42.3803058

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    FAQs

    What type of property is this?
    Individual retail property - Prime Detroit location, 2,508 SF bank building.
    Where is this individual retail property located?
    The property is located at 8121 Gratiot Ave Detroit, MI.
    What is the asking price?
    The asking price for this property is $295,000.
    What are key features of this property?
    This property features: 2,508 square feet available.; 12' clear ceiling height.; Former bank branch, ideal for adaptive reuse.
    Request Owner's contact information
    8121 Gratiot Ave Detroit, MI 48213
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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
    8121 Gratiot Ave Detroit, MI 48213
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