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    6929 Lafayette St Detroit, MI 48207

    Sponsored
    For Sale
    $330,000

    Prime 0.51-acre lot, excellent location.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    395
    This exceptional 0.51-acre commercial land parcel, located at 6929 E. Lafayette St in Detroit, Michigan, presents a unique investment opportunity. The property is zoned B-4, offering a wide range of potential commercial uses. Priced at $330,000, this represents a land value of $647,058 per acre. The site boasts convenient access to essential utilities, including sanitary sewer, water, and gas. Adding to its appeal, an adjacent 0.21-acre site at 7001 E. Lafayette Street is also available for separate purchase, presenting the possibility of acquiring a larger contiguous parcel. The property's Wayne County location, with a Detroit zip code of 48207, places it within a dynamic and developing area. The APN is 15000144-6. This is a rare chance to secure a well-situated commercial lot with significant development potential. Don't miss this opportunity to acquire a valuable asset in a thriving Detroit location.

    Property Features for 6929 Lafayette St

    General Information

    Property type
    Land
    Lot Size
    22,216 SF

    HighLights

    • 0.51‑acre commercial lot available at 6929 E. Lafayette St, Detroit, MI.
    • B‑4 zoning allows for diverse commercial uses.
    • Adjacent 0.21‑acre parcel at 7001 E. Lafayette St also available.
    • All utilities (water, sewer, gas) on‑site.
    • Offered at $330,000.
    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
    -83.0056705
    Latitude
    42.3499935

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    FAQs

    What type of property is this?
    Land - Prime 0.51-acre lot, excellent location.
    Where is this land located?
    The property is located at 6929 Lafayette St Detroit, MI.
    What is the asking price?
    The asking price for this property is $330,000.
    What are key features of this property?
    This property features: 0.51-acre commercial lot available at 6929 E. Lafayette St, Detroit, MI.; B-4 zoning allows for diverse commercial uses.; Adjacent 0.21-acre parcel at 7001 E. Lafayette St also available.
    (248) 359-0615
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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
    6929 Lafayette St Detroit, MI 48207
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