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    11122 Hayes St Detroit, MI 48213

    For Sale
    $650,000

    8,850 SF Commercial Land, High Potential

    Property size:
    8,850 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    361
    This 8,850 square foot commercial land parcel in Detroit, Michigan, presents a unique investment opportunity. Located at 11122 Hayes Street, in Wayne County, zip code 48213 (42.4170778, -82.9646499), this special purpose property is priced at $650,000. The property is currently configured as a strip mall, although the listing specifies it as land. While the listing mentions a previous configuration of eight units, with four currently leased, generating rental income, and two vacant units, the current state of the property as land should be independently verified. Previous tenants included a barbershop, a studio room, and a daycare center. This property offers significant potential for redevelopment or continued operation as a commercial space. The substantial size of the land provides ample room for expansion or diversification of existing businesses. The location in Detroit offers access to a diverse population and established commercial corridors. This is an ideal opportunity for investors seeking a high-return property in a growing market. Due diligence is recommended to confirm the current condition and zoning regulations of the property. The asking price reflects the potential value and redevelopment opportunities presented by this significant land parcel.

    Property Features for 11122 Hayes St

    General Information

    Property type
    Land
    Square Feet
    8,850 SF

    HighLights

    • $650,000 asking price.
    • 8,850 square foot lot.
    • Special purpose commercial land in Detroit, MI.
    • Located at 11122 Hayes Street, Detroit, MI 48213.
    • Four of eight units currently leased, generating rental income.
    • Two vacant units available for lease or owner‑use.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Glory To God Christian ... Church

    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
    Detroit
    County
    Wayne
    State
    Michigan
    Longitude
    -82.9646499
    Latitude
    42.4170778

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    FAQs

    What type of property is this?
    Land - 8,850 SF Commercial Land, High Potential
    Where is this land located?
    The property is located at 11122 Hayes St Detroit, MI.
    What is the asking price?
    The asking price for this property is $650,000.
    What are key features of this property?
    This property features: $650,000 asking price.; 8,850 square foot lot.; Special purpose commercial land in Detroit, MI.
    Request Owner's contact information
    11122 Hayes St Detroit, MI 48213
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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
    11122 Hayes St Detroit, MI 48213
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