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    9239 Gratiot Ave Detroit, MI 48213

    Sponsored
    For Sale
    $525,000

    Vacant 1993 SF Restaurant, $525K

    Property size:
    1,993 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional 1,993-square-foot vacant commercial property, located at 9239 Gratiot Avenue in Detroit, Michigan, presents a compelling opportunity for owner-users or redevelopment. The building, constructed in 1997, sits on a 0.55-acre lot and is zoned B-4: General Business District, offering considerable flexibility for various uses. Previously operating as a quick-service restaurant, the property boasts nine parking spaces, a significant advantage in this high-traffic area. The asking price is $525,000, translating to $263.42 per square foot. The fee simple ownership includes both land and building, providing complete control and potential for long-term investment. Situated along Gratiot Avenue, this location benefits from high visibility and accessibility, with a strong tenant presence and dense industrial trade area, ensuring a robust customer base. The property's central location and direct access to a residential consumer base make it an ideal site for a variety of businesses. This is a rare opportunity to acquire a well-positioned property in a thriving Detroit neighborhood. The property's history as a quick-service restaurant makes it suitable for similar ventures or adaptive reuse. The ample parking and convenient location are key selling points for potential buyers or tenants. This property offers tremendous value and potential for significant return on investment.

    Property Features for 9239 Gratiot Ave

    General Information

    Property type
    Restaurants
    Square Feet
    1,993 SF
    Lot Size
    23,958 SF

    Building Details

    Year Built
    1997

    HighLights

    • 1,993 SF vacant commercial building on a 0.55‑acre lot in Detroit, MI.
    • Located on Gratiot Ave. with high visibility and accessibility.
    • B‑4 General Business zoning allows for diverse uses.
    Property Profile Location Intelligence

    Current Use by Public Records

    Burger King Restaurant

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Detroit
    County
    Wayne
    State
    Michigan
    Longitude
    -83.0074964
    Latitude
    42.3902903

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    FAQs

    What type of property is this?
    Restaurant - Vacant 1993 SF Restaurant, $525K
    Where is this restaurant located?
    The property is located at 9239 Gratiot Ave Detroit, MI.
    What is the asking price?
    The asking price for this property is $525,000.
    What are key features of this property?
    This property features: 1,993 SF vacant commercial building on a 0.55-acre lot in Detroit, MI.; Located on Gratiot Ave. with high visibility and accessibility.; B-4 General Business zoning allows for diverse uses.
    Request Owner's contact information
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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
    9239 Gratiot Ave Detroit, MI 48213
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