Detroit Retail Space For
For Sale
Contact for pricing
8200 Gratiot Ave, Detroit, MI 48213
Retail space available for purchase in Detroit, Michigan.
Property Size1,935 SF
Price / SF$142.12
Days on Market1091
Property Features for 8200 Gratiot Ave
General Information
Standard status
Active
Size
1,935 SF
Property subtype
Retail
Zoning
B4
Building Details
Year Built
1970
Listing Agency:
Signature Associates Southfield
Listed By:
Joe Stack · License #MI
(248) 359-0615
Source:
Crexi
Added: Oct 16, 2023
Changed: Oct 9
Last Checked: Oct 9 at 4:39PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Signature Associates Southfield
Investment Insights
Based on property information with market context.
A retail space encompassing 1,935 square feet is available for purchase. The property is located on Gratiot Avenue in Detroit, Michigan.
Key Highlights
- For sale
- Year Built: 1970
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,833
Cap Rate
8.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$476,660
$476.7K
Cap Rate 7%
$340,471
$340.5K
Cap Rate 9%
$264,811
$264.8K
Market Conditions
NOI Build-Up for 1,935 SF
Gross rent
$36.0K $18.60/SF
− Vacancy
−$1.9K −$1.00/SF
EGI
$34.0K $17.60/SF
− OpEx
−$10.2K −$5.28/SF
NOI
$23.8K $12.32/SF
Area
Detroit, MI
Vacancy
5.40%
Lease Rate
$18.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$476,660
Cap Rate 7%
$340,471
Cap Rate 9%
$264,811
Alternative Uses
Best Use
Retail
$340.5K
$297.9K – $397.2K
NOI $23,833 @ 7.0% cap · market cap 8.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$426.9K
$373.5K – $498.0K
NOI $29,881 @ 7.0% cap · market cap 10.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
267
Businesses Nearby
27k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 47%
Dining 42%
Electronics 11%
Wendy's
Dining
8,937 visits/mo
0.2 miles
Chase Bank
Shops & Services
7,565 visits/mo
0.4 miles
Boost Mobile
Electronics
2,998 visits/mo
0.4 miles
Marathon
Shops & Services
2,630 visits/mo
0.3 miles
Little Caesars Pizza
Dining
2,604 visits/mo
0.4 miles
Demographics for 48213, MI
19,088
Population
11,365
Households
1.7
Avg Household Size
39
Median Age
7%
College-Educated
82%
High-School Grad
6.5 sq mi
ZIP Area
2,937
Density / Sq Mi
$33,755
Median Household Income
$24,765
Median Earnings
$837
Median Rent
$52,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Detroit, MI
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Retail space available for purchase in Detroit, Michigan.
Where is this retail space located?
The property is located at 8200 Gratiot Ave Detroit, MI.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: For sale; Year Built: 1970
