Corner Retail
For Sale
Contact for pricing
9657 Gratiot Avenue, Detroit, MI 48213
The 1,000-square-foot unit occupies a corner position along Gratiot Avenue.
Property Size1,000 SF
Price / SF$1.50
Days on Market26
Property Features for 9657 Gratiot Avenue
General Information
Standard status
Active
Size
1,000 SF
Property subtype
Commercial
Site & Location
Neighborhood
West End
Corner Location
Yes
Building Details
Year Built
1937
Listing Agency:
Own It Realty
Listed By:
Hassan Scheib · License #6502399271
(313) 395-0000
Source:
Goodhomemi
Added: Oct 5
Changed: Oct 28
Last Checked: Oct 28 at 4:57PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Own It Realty
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,000-square-foot retail unit was built in 1937 and sits at the corner of Gratiot Avenue. Its corner configuration is the primary physical feature identified for the space.
Key Highlights
- 1,000‑square‑foot retail unit
- Corner position at 9657 Gratiot Avenue
- Built in 1937
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,317
Suggested Prices Based on Cap Rates
Cap Rate 5%
$246,340
$246.3K
Cap Rate 7%
$175,957
$176.0K
Cap Rate 9%
$136,856
$136.9K
Market Conditions
NOI Build-Up for 1,000 SF
Gross rent
$18.6K $18.60/SF
− Vacancy
−$1.0K −$1.00/SF
EGI
$17.6K $17.60/SF
− OpEx
−$5.3K −$5.28/SF
NOI
$12.3K $12.32/SF
Area
Detroit, MI
Vacancy
5.40%
Lease Rate
$18.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$246,340
Cap Rate 7%
$175,957
Cap Rate 9%
$136,856
Alternative Uses
Best Use
Retail
$176.0K
$154.0K – $205.3K
NOI $12,317 @ 7.0% cap · market cap 821.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$220.6K
$193.0K – $257.4K
NOI $15,442 @ 7.0% cap · market cap 1,029.47%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
289
Businesses Nearby
8k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Citgo
Shops & Services
6,008 visits/mo
0.2 miles
Dollar General
Shops & Services
1,856 visits/mo
0.4 miles
Demographics for 48213, MI
19,088
Population
11,365
Households
1.7
Avg Household Size
39
Median Age
7%
College-Educated
82%
High-School Grad
6.5 sq mi
ZIP Area
2,937
Density / Sq Mi
$33,755
Median Household Income
$24,765
Median Earnings
$837
Median Rent
$52,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Detroit, MI
Frequently Asked Questions
What type of property is this?
Retail space - The 1,000-square-foot unit occupies a corner position along Gratiot Avenue.
Where is this retail space located?
The property is located at 9657 Gratiot Avenue Detroit, MI.
What are key features of this property?
This property features: 1,000‑square‑foot retail unit; Corner position at 9657 Gratiot Avenue; Built in 1937
