Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    23001 Gratiot Ave Eastpointe, MI 48021

    Sponsored
    For Sale
    $775,000

    8,553 SF Retail & Residential, High Income

    Property size:
    8,553 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional mixed-use investment opportunity in Eastpointe, Michigan, presents a substantial 8,553-square-foot property situated on a 0.16-acre lot. The building, constructed in 1954 and boasting a newer roof, comprises a two-story structure with a DT zoning designation. The property is currently generating significant rental income, with a total annual rent collection of $100,260. Individual unit rentals are as follows: Unit A ($27,600), Unit B ($24,000), Unit R1 ($11,400), Unit R2 ($11,100), Unit R3 ($10,560), and Unit R4 ($15,600). This multi-tenant property offers a compelling blend of retail and residential spaces, providing a diversified income stream. Located at 23001-23005 Gratiot Ave, Eastpointe, MI 48021, this property is priced at $775,000, translating to $90.61 per square foot. The property's strong rental history and prime location in Macomb County make it an attractive investment prospect with considerable potential for future growth and appreciation. This is a rare opportunity to acquire a well-maintained, income-producing asset in a desirable market. The property consists of one building.

    Property Features for 23001 Gratiot Ave

    General Information

    Property type
    Mixed-use properties
    Square Feet
    8,553 SF
    Lot Size
    6,970 SF

    Building Details

    Year Built
    1954
    Buildings
    1
    Stories
    2

    HighLights

    • 8,553 square foot mixed‑use building.
    • Retail and residential units.
    • Features a newer roof.
    • DT zoning.
    • $100,260 annual rental income.
    • Unit A: $27,600 annual rent; Unit B: $24,000; Unit R1: $11,400; Unit R2: $11,100; Unit R3: $10,560; Unit R4: $15,600.
    Property Profile Location Intelligence

    Current Use by Public Records

    Brilliant Beginnings Day Care Center Precious Gems Learning ... Day Care Center

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Eastpointe
    County
    Macomb
    State
    Michigan
    Longitude
    -82.956934
    Latitude
    42.4670471

    Nearby Similar for Sale

    • $350,000
      2,000 SF

      Eastpointe Flex Space with Showroom

      2,000 SF flex space with showroom and fenced lot.
      17511 Stephens Dr, Eastpointe, MI 48021
      View Details
    • $999,999
      1,231 SF

      Eastpointe Gas Station For Sale

      Gas station with real estate, business, and multiple revenue streams.
      00000 Macomb Ave, Eastpointe, MI 48021
      View Details
    • $399,000
      6,822 SF

      Eastpointe Office Building For Sale

      Office property in Eastpointe, MI, with ample parking.
      22777 Kelly Rd, Eastpointe, MI 48021
      View Details
    • $225,000
      4,197 SF

      Eastpointe Former Medical Building

      Former medical building with parking lot, suitable for office/retail.
      20927 Kelly Rd, Eastpointe, MI 48021
      View Details
    • $700,000
      1,050 SF

      Updated Retail Property in Eastpointe

      Recently remodeled retail property with high visibility and ample parking.
      14700 East 9 Mile Rd, Eastpointe, MI 48021
      View Details
    • $200,000

      Mixed-Use Building with Income Potential

      Mixed-use building featuring residential and commercial spaces for diverse income.
      24450 Gratiot Ave, Eastpointe, MI 48021
      View Details
    • $40,000

      Entry-Level Co-op Unit Available

      First-floor co-op with updates, parking, and included utilities.
      15219 E 9 Mile Rd, Eastpointe, MI 48021
      View Details
    • $226,000

      Commercial Building with Extra Lot

      Commercial building for sale with potential income and expansion.
      15615 E 10 Mile Rd, Eastpointe, MI 48021
      View Details
    • Contact for pricing

      Eastpointe Co-op for 55+

      Meticulously maintained 1 bed, 1 bath co-op in Eastpointe.
      24301 Kelly Rd, Eastpointe, MI 48021
      View Details
    • $339,999
      4,800 SF

      Eastpointe Retail Building For Sale

      Multi-tenant retail building on Gratiot Avenue, ideal for investors.
      22220-22228 Gratiot Ave, Eastpointe, MI 48021
      View Details
    • $159,000

      Eastpointe Retail Investment Opportunity

      Commercial property in high-traffic area, ideal for retail.
      18228 E 9 Mile Rd, Eastpointe, MI 48021
      View Details
    • $349,000

      Well-Maintained Commercial Property on Kelley

      2630 SF commercial property suitable for office, medical, retail.
      22301 Kelly Rd, Eastpointe, MI 48021
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - 8,553 SF Retail & Residential, High Income
    Where is this mixed-use property located?
    The property is located at 23001 Gratiot Ave Eastpointe, MI.
    What is the asking price?
    The asking price for this property is $775,000.
    What are key features of this property?
    This property features: 8,553 square foot mixed-use building.; Retail and residential units.; Features a newer roof.
    Request Owner's contact information
    23001 Gratiot Ave Eastpointe, MI 48021
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    23001 Gratiot Ave
    Eastpointe, MI 48021
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    23001 Gratiot Ave Eastpointe, MI 48021
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.