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    16301 Eight Mile Rd Detroit, MI 48235

    Sponsored
    For Lease
    $13 SF/Yr ($4,234 /Mo)

    High-traffic Detroit retail space for sale.

    Lot size:
    3,781 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 3,781 square foot retail building is situated on a highly visible section of West 8 Mile Road in Detroit, Michigan, between Southfield and Greenfield Roads. Built in 1960, the single-story structure sits on a 0.54-acre lot and is currently vacant, presenting a unique opportunity for a variety of retail businesses. The property's zoning is B4-General Business District, allowing for diverse commercial uses. With ample parking and excellent street exposure on a road boasting over 145,000 vehicles daily, this location offers unparalleled visibility and accessibility. The single-tenant building presents a blank canvas for a new business to thrive. The seller is open to a land contract, offering flexible financing options. This prime location, combined with the building's size and the seller's willingness to negotiate, makes this an attractive investment opportunity in a bustling Detroit commercial corridor. The property address is 16301 W 8 Mile Road, Detroit, MI 48235.

    Property Features for 16301 Eight Mile Rd

    General Information

    Property type
    Individual retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    3,781 SF
    Total Rate
    4234.72

    Building Details

    Year Built
    1960
    Buildings
    1
    Stories
    1

    Unit(s) available at that property

    Space
    Size
    3,781 SF
    Rate per SF
    $13

    HighLights

    • 3,781 SF retail building on 0.54‑acre lot in Detroit, MI.
    • High visibility on West 8 Mile Road, between Southfield and Greenfield Roads, with over 145,000 vehicles daily.
    • Currently vacant, offering flexible use options with B4‑General Business zoning.
    • Ample parking available.
    • Seller open to land contract.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon 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
    -83.2096545
    Latitude
    42.4442322

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    FAQs

    What type of property is this?
    Individual retail property - High-traffic Detroit retail space for sale.
    Where is this individual retail property located?
    The property is located at 16301 Eight Mile Rd Detroit, MI.
    What is the lease rate?
    The lease rate is $13 SF/Yr.
    What are key features of this property?
    This property features: 3,781 SF retail building on 0.54-acre lot in Detroit, MI.; High visibility on West 8 Mile Road, between Southfield and Greenfield Roads, with over 145,000 vehicles daily.; Currently vacant, offering flexible use options with B4-General Business zoning.
    Request Owner's contact information
    16301 Eight Mile Rd Detroit, MI 48235
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    Detroit, MI 48235
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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
    16301 Eight Mile Rd Detroit, MI 48235
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