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    401 Grand River Ave Detroit, MI 48226

    Sponsored
    For Sale
    $1,595,000

    High-demand parking lot, prime location.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a 0.14-acre commercial land parcel located at 401 W. Grand River Ave, Detroit, MI 48226, in Wayne County. Currently configured as a surface parking lot accommodating 25 vehicles, this property offers significant potential. The asking price is $1,595,000. The lot boasts a remarkable Walk Score of 97, reflecting its highly desirable urban setting. Its strategic location within the Central Business District places it in close proximity to Woodward Avenue and the I-75 Freeway, ensuring excellent accessibility. Furthermore, its proximity to the Detroit People Mover enhances its appeal. The property's zoning is designated as Commercial, allowing for a variety of potential uses. The densely populated area surrounding the property, with over 78,000 residents within a 3-mile radius, guarantees a consistent demand for parking and other commercial services. The total land area is 6,011 square feet. This property represents a rare opportunity to acquire a high-value asset in a thriving urban environment. The property's location and high Walk Score make it an ideal investment for those seeking strong returns in a dynamic market.

    Property Features for 401 Grand River Ave

    General Information

    Property type
    Land
    Lot Size
    6,098 SF

    HighLights

    • $1,595,000 asking price.
    • 0.14‑acre commercial land parcel.
    • 25 surface parking spaces.
    • Walk Score of 97.
    • Excellent location near the Detroit People Mover and I‑75 Freeway.
    Property Profile Location Intelligence

    Current Use by Public Records

    Elevate Cannabis Dispensary Recreation Center

    Suggested Use

    Realty agency Spa & Massage Dental Office Hair Salon Restaurant Nail Salon Building Supply Daycare Center Gym & Fitness Kitchen & Bath

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

    Location Insight

    • Map
    • Local Demand
    City
    Detroit
    County
    Wayne
    State
    Michigan
    Longitude
    -83.0525488
    Latitude
    42.3336619

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    FAQs

    What type of property is this?
    Land - High-demand parking lot, prime location.
    Where is this land located?
    The property is located at 401 Grand River Ave Detroit, MI.
    What is the asking price?
    The asking price for this property is $1,595,000.
    What are key features of this property?
    This property features: $1,595,000 asking price.; 0.14-acre commercial land parcel.; 25 surface parking spaces.
    (248) 833-6601
    Request Owner's contact information
    401 Grand River Ave Detroit, MI 48226
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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
    401 Grand River Ave Detroit, MI 48226
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