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    6940 Gratiot Ave Detroit, MI 48208

    Sponsored
    For Sale
    $79,000

    0.12-acre lot, B-4 zoning, great location.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    396
    This exceptional 0.12-acre commercial and industrial land parcel, located at 6940 Gratiot Avenue in Detroit, Michigan, presents a unique investment opportunity. Priced at $79,000, this property boasts a prime location with main road frontage, offering excellent visibility and accessibility. The lot is zoned B-4, providing flexibility for a variety of commercial and industrial uses. All essential utilities are readily available, including sewer, storm drain, water, and gas connections, eliminating the need for costly infrastructure upgrades. The property's location in Wayne County, with a zip code of 48208, places it within a thriving area of Detroit. The Assessor's Parcel Number (APN) is 15-000330. This land offers significant potential for developers and investors seeking a strategically located site in a bustling urban environment. The price per acre reflects a strong value proposition at $658,333. Don't miss this chance to acquire a well-situated parcel ready for immediate development. This is a rare opportunity to secure a valuable piece of Detroit real estate.

    Property Features for 6940 Gratiot Ave

    General Information

    Property type
    Land
    Lot Size
    5,227 SF

    HighLights

    • 0.12‑acre lot available for sale.
    • B‑4 zoning.
    • Utilities available: sewer, storm drain, water, and gas.
    • Main road frontage.
    • $79,000 sale price.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply 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
    -83.0844532
    Latitude
    42.3475066

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    FAQs

    What type of property is this?
    Land - 0.12-acre lot, B-4 zoning, great location.
    Where is this land located?
    The property is located at 6940 Gratiot Ave Detroit, MI.
    What is the asking price?
    The asking price for this property is $79,000.
    What are key features of this property?
    This property features: 0.12-acre lot available for sale.; B-4 zoning.; Utilities available: sewer, storm drain, water, and gas.
    Request Owner's contact information
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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
    6940 Gratiot Ave Detroit, MI 48208
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