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    7001 Lafayette St Detroit, MI 48207

    Sponsored
    For Sale
    $150,000

    Prime 0.21-acre lot, B-4 zoning, $150,000

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    395
    This exceptional 0.21-acre commercial land parcel, located at 7001 E. Lafayette Street in Detroit, Michigan, presents a unique investment opportunity. The property is zoned B-4, offering a wide range of potential commercial uses. The asking price is $150,000, translating to a land value of $714,285 per acre. The lot's size provides ample space for various development projects, while its strategic location within Wayne County, zip code 48207, ensures excellent accessibility and visibility. The property's APN is 15000147. This is a rare opportunity to acquire a well-situated commercial lot in a growing area of Detroit. Note that an adjacent 0.51-acre site at 6929 E. Lafayette Street is also available for separate purchase, presenting the potential for a larger-scale development. This property is ideal for investors seeking to capitalize on the burgeoning commercial landscape of Detroit. The coordinates for this property are latitude 42.3501653 and longitude -83.0050735. Serious inquiries are encouraged.

    Property Features for 7001 Lafayette St

    General Information

    Property type
    Land
    Lot Size
    9,148 SF

    HighLights

    • 0.21‑acre parcel available for sale.
    • B‑4 zoning.
    • Adjacent 0.51‑acre site at 6929 E. Lafayette available separately.
    • Asking price: $150,000.
    Property Profile Location Intelligence

    Current Use by Public Records

    Boulevard Park (Western ... Historical Landmark

    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
    -83.0050735
    Latitude
    42.3501653

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    FAQs

    What type of property is this?
    Land - Prime 0.21-acre lot, B-4 zoning, $150,000
    Where is this land located?
    The property is located at 7001 Lafayette St Detroit, MI.
    What is the asking price?
    The asking price for this property is $150,000.
    What are key features of this property?
    This property features: 0.21-acre parcel available for sale.; B-4 zoning.; Adjacent 0.51-acre site at 6929 E. Lafayette available separately.
    (248) 359-0615
    Request Owner's contact information
    7001 Lafayette St Detroit, MI 48207
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    Detroit, MI 48207
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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
    7001 Lafayette St Detroit, MI 48207
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