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    17150-17218 Schaefer Hwy Detroit, MI 48235

    Sponsored
    For Sale
    $799,000

    0.87-acre lot, prime Detroit location

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    397
    This exceptional 0.87-acre commercial land parcel, located at 17150-17218 Schaefer Highway in Detroit, Michigan, presents a unique redevelopment opportunity. Situated in Wayne County, zip code 48235, this property is ideally positioned across from the prestigious DMC Sinai Grace Hospital. The asking price is $799,000. This prime location offers significant potential for various development projects, catering to the high demand in this thriving area. With a substantial population of over 194,000 within a three-mile radius, boasting an average household income of $45,189 and an average home value of $110,259, this neighborhood demonstrates strong economic vitality. Preliminary plans exist for a 5,610 square foot medical office building, showcasing the site's suitability for such ventures. The property's size and location make it an attractive investment for developers seeking to capitalize on Detroit's flourishing market. This is a blank canvas ready for transformation into a remarkable development project. The property's coordinates are latitude 42.4175074 and longitude -83.1795123. This is a rare opportunity to acquire a significant land holding in a high-demand area of Detroit.

    Property Features for 17150-17218 Schaefer Hwy

    General Information

    Property type
    Land
    Lot Size
    37,897 SF

    HighLights

    • 0.87‑acre commercial land parcel in Detroit, MI.
    • Located at 17150‑17218 Schaefer Highway, across from DMC Sinai Grace Hospital.
    • Asking price: $799,000.
    • Preliminary plans for a 5,610 sq ft medical office building.
    • High‑demand location with strong demographics.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Detroit
    County
    Wayne
    State
    Michigan
    Longitude
    -83.1795123
    Latitude
    42.4175074

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    FAQs

    What type of property is this?
    Land - 0.87-acre lot, prime Detroit location
    Where is this land located?
    The property is located at 17150-17218 Schaefer Hwy Detroit, MI.
    What is the asking price?
    The asking price for this property is $799,000.
    What are key features of this property?
    This property features: 0.87-acre commercial land parcel in Detroit, MI.; Located at 17150-17218 Schaefer Highway, across from DMC Sinai Grace Hospital.; Asking price: $799,000.
    (248) 406-7113
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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
    17150-17218 Schaefer Hwy Detroit, MI 48235
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