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    3840 Eight Mile Rd Detroit, MI 48234

    Sponsored
    For Sale
    $475,000

    Prime Detroit Retail Space, Updated 2024

    Property size:
    5,516 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional Detroit storefront, located at 3840 East 8 Mile Rd, presents a unique owner-user opportunity. The property boasts a total of 5,516 square feet, encompassing a 3,025 square foot retail building and a 2,491 square foot auto garage. Completely renovated in 2024, this single-story building is move-in ready and features a 10-foot ceiling height. The property sits on a 0.43-acre lot and is zoned B4, offering flexibility for various retail uses. Its strategic location provides easy access to I-75 and is minutes from I-696, ensuring high visibility and convenient access for customers and employees. The asking price is $475,000, translating to $86.11 per square foot. Built in 1962, this property offers a blend of classic charm and modern functionality, making it an ideal investment for discerning buyers seeking a turnkey retail space in a thriving Detroit location. The property is ready for immediate occupancy and build-out. This is a rare opportunity to acquire a fully renovated, well-located retail space in a high-traffic area of Detroit.

    Property Features for 3840 Eight Mile Rd

    General Information

    Property type
    Individual retail properties
    Square Feet
    5,516 SF
    Lot Size
    18,731 SF

    Building Details

    Year Built/Renovated
    1962/2024
    Buildings
    1
    Stories
    1

    HighLights

    • $475,000 asking price for this owner‑user opportunity.
    • 3,025 square feet of net rentable retail space in a 5,516 square foot building.
    • Recently renovated in 2024.
    • Located on a 0.43‑acre lot in Detroit, MI, zoned B4.
    • Convenient access to I‑75 and I‑696.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store 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
    -83.0415078
    Latitude
    42.4330141

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    FAQs

    What type of property is this?
    Individual retail property - Prime Detroit Retail Space, Updated 2024
    Where is this individual retail property located?
    The property is located at 3840 Eight Mile Rd Detroit, MI.
    What is the asking price?
    The asking price for this property is $475,000.
    What are key features of this property?
    This property features: $475,000 asking price for this owner-user opportunity.; 3,025 square feet of net rentable retail space in a 5,516 square foot building.; Recently renovated in 2024.
    Request Owner's contact information
    3840 Eight Mile Rd Detroit, MI 48234
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    Detroit, MI 48234
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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
    3840 Eight Mile Rd Detroit, MI 48234
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