Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1092 Grand Blvd Detroit, MI 48207

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Prime residential duplex, 2 units, $150k

    Property size:
    2,119 SF

    Property Features for 1092 Grand Blvd

    General Information

    Property type
    Multifamily properties
    Square Feet
    2,119 SF
    Class
    C
    Lot Size
    4,574 SF

    Building Details

    Year Built
    1908
    Buildings
    1
    Stories
    2
    Units
    2

    We can help!

    Listing Contact
    Ivory Moorer
    Ivory Moorer

    Listing Agency: IJM REAL ESTATE SERVICES Listing Agent: Ivory Moorer

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional redevelopment opportunity presents a charming two-unit duplex located at 1092-1094 E. Grand Blvd in Detroit, Michigan. Built in 1908, this Class C property sits on a 0.105-acre lot and boasts a total of 2,119 square feet of net rentable space, spread across two stories. The asking price is $150,000, translating to $75,000 per unit and $70.79 per square foot. The property is zoned R5, offering potential for various development scenarios. The address is 1092-1094 E. Grand Blvd, Detroit, MI 48207, with the Assessor's Parcel Number (APN) being 15007668. This presents a unique chance to acquire a multifamily property in a desirable Detroit location, ideal for investors seeking a redevelopment project with significant upside potential. The property's age and existing structure offer a blend of character and opportunity for modernization and increased rental income. The location within Wayne County provides access to various amenities and transportation options. This is a compelling investment for those seeking a hands-on project with substantial return potential.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential income homes

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Detroit
    County
    Wayne
    State
    Michigan
    Longitude
    -83.017950088041
    Latitude
    42.371987100923

    Nearby Similar for Sale

    • $399,999
      9,164 SF

      Detroit Office Building on Grand River

      Classic brick office building with value-add opportunity on high-traffic corridor.
      16625 Grand River Ave, Detroit, MI 48227
      View Details
    • $350,000
      7,679 SF

      Detroit Commercial Building on Fenkell

      Spacious 8,000 SF commercial building in Detroit's Fenkell Corridor.
      20650 Fenkell Ave, Detroit, MI 48223
      View Details
    • $575,000
      5,246 SF

      Detroit Commercial Property on Vernor

      Prime commercial property in Detroit's vibrant Mexicantown neighborhood.
      4435 W Vernor Hwy, Detroit, MI 48209
      View Details
    • New
      $339,900
      2,108 SF

      Detroit Coney Island Opportunity

      Operating Coney Island restaurant with drive-thru for sale in Detroit.
      14501 Joy Rd, Detroit, MI 48228
      View Details
    • $389,900
      4,468 SF

      Established Auto Repair Shop For Sale

      Profitable, turnkey auto repair shop with real estate in Detroit.
      13118 Gratiot Ave, Detroit, MI 48205
      View Details
    • $674,990
      13,735 SF

      Detroit Industrial/Commercial Opportunity Awaits

      Flexible 13,735 sqft space on 0.7-acre lot in Detroit.
      9900 Northlawn St, Detroit, MI 48204
      View Details
    • New
      $720,000
      18,425 SF

      Detroit Industrial Property with Renovated Office

      Multi-parcel industrial property with renovated office space in Detroit.
      20210 Sherwood St, Detroit, MI 48234
      View Details
    • New
      $189,900
      5,700 SF

      Commercial Property on Grand River Avenue

      Two-unit commercial property with development potential on Grand River Avenue.
      15144 Grand River Ave, Detroit, MI 48227
      View Details
    • $89,000
      1,226 SF

      Detroit Retail Space For Sale

      Commercial space previously used for retail in Detroit, Michigan.
      13657 Grand River Ave, Detroit, MI 48227
      View Details
    • $179,000
      2,000 SF

      Detroit Retail Space on Eight Mile

      Former nail salon on busy Eight Mile Road for sale.
      8235 W 8 Mile Rd, Detroit, MI 48221
      View Details
    • $199,000
      1,227 SF

      Detroit Commercial Building with Drive-Thru

      Versatile 1,200 SF commercial building with drive-thru and parking.
      8300 Livernois Ave, Detroit, MI 48204
      View Details
    • $100,000
      8,281 SF

      Detroit Commercial Canvas on Harper Avenue

      8,281 sq ft commercial property zoned B4 in Detroit.
      14320 Harper Ave, Detroit, MI 48213
      View Details

    FAQs

    What type of property is this?
    Multifamily property - Prime residential duplex, 2 units, $150k
    Where is this multifamily property located?
    The property is located at 1092 Grand Blvd Detroit, MI.
    What is the asking price?
    The asking price for this property is $150,000.
    What are key features of this property?
    This property features: $150,000 asking price for a two-unit multifamily property.; Located at 1092-1094 E. Grand Blvd, Detroit, MI 48207.; 2,119 square feet on a 0.105-acre lot.
    (313) 406-9110 Call to check price and availability
    Request Owner's contact information
    1092 Grand Blvd Detroit, MI 48207
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1092 Grand Blvd
    Detroit, MI 48207
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    1092 Grand Blvd Detroit, MI 48207
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Ivory Moorer
    Ivory Moorer
    Real Estate License ID: 6504384861
    (313) 406-9110 (313) 522-2621
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!