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    16520 Grand River Ave Detroit, MI 48227

    For Sale
    $99,000

    Vacant Retail Space, High Ceilings, Great Location

    Property size:
    3,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    362
    This 3,000 square foot vacant storefront located at 16520 Grand River Ave, Detroit, MI 48227 presents a fantastic owner-user opportunity. Priced at $99,000 ($33 per square foot), this retail space boasts high ceilings, creating a spacious and versatile environment. The property is currently vacant, allowing for immediate occupancy and customization to suit your business needs. While the building offers a separate office area for administrative functions, parking is limited. Situated in Wayne County, Michigan, this property benefits from its convenient location on Grand River Avenue. The address is precisely 16520 Grand River Ave, Detroit, MI 48227, with coordinates 42.39696334046004 latitude and -83.2090872222852 longitude. This is an ideal investment for entrepreneurs seeking a well-positioned retail space to establish or expand their business. The property type is retail, specifically a storefront, and is ready for immediate possession.

    Property Features for 16520 Grand River Ave

    General Information

    Property type
    Individual retail properties
    Square Feet
    3,000 SF
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    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
    Detroit
    County
    Wayne
    State
    Michigan
    Longitude
    -83.209087222285
    Latitude
    42.39696334046

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    FAQs

    What type of property is this?
    Individual retail property - Vacant Retail Space, High Ceilings, Great Location
    Where is this individual retail property located?
    The property is located at 16520 Grand River Ave Detroit, MI.
    What is the asking price?
    The asking price for this property is $99,000.
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    16520 Grand River Ave Detroit, MI 48227
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    Detroit, MI 48227
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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
    16520 Grand River Ave Detroit, MI 48227
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