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    24850 Gratiot Ave Eastpointe, MI 48021

    For Sale
    $465,000

    Prime Retail Space, 4,716 SF, $465,000

    Property size:
    4,716 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    364
    This exceptional retail property, located at 24850 Gratiot Avenue in Eastpointe, Michigan, presents a lucrative investment opportunity. Boasting 4,716 square feet of space on a 0.11-acre lot, this property is currently configured as an event hall leased to a tenant and includes a second-floor apartment. The building is zoned B3, allowing for a variety of commercial uses. The asking price is $465,000, translating to a price per square foot of $98.60. Ample parking is available with 15 spaces, and the property benefits from an easement providing shared parking lot access. Situated in Macomb County, Michigan, with a zip code of 48021, this location offers high visibility and accessibility on Gratiot Avenue. The property's current configuration and zoning provide flexibility for a range of potential uses, making it an attractive option for both investors and owner-operators seeking a high-traffic location in a thriving commercial area. The existing lease provides immediate income potential, while the second-floor apartment adds to the property's overall value and versatility. This is a rare opportunity to acquire a well-located, established commercial property in a desirable market.

    Property Features for 24850 Gratiot Ave

    General Information

    Property type
    Retail properties
    Square Feet
    4,716 SF
    Lot Size
    4,792 SF

    HighLights

    • 4,716 square feet available.
    • 0.11‑acre lot.
    • B3 zoning.
    • 15 parking spaces.
    • Sale price: $465,000 ($98.60/sq. ft.).
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Rapid service garage ... Repair Service III Pointes Event ... Banquet Hall

    Suggested Use

    Realty agency Law Firm Restaurant 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
    Eastpointe
    County
    Macomb
    State
    Michigan
    Longitude
    -82.9481602
    Latitude
    42.478687

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    FAQs

    What type of property is this?
    Retail property - Prime Retail Space, 4,716 SF, $465,000
    Where is this retail property located?
    The property is located at 24850 Gratiot Ave Eastpointe, MI.
    What is the asking price?
    The asking price for this property is $465,000.
    What are key features of this property?
    This property features: 4,716 square feet available.; 0.11-acre lot.; B3 zoning.
    (248) 359-0615
    Request Owner's contact information
    24850 Gratiot Ave Eastpointe, MI 48021
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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
    24850 Gratiot Ave Eastpointe, MI 48021
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