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    3916 Joy Rd Detroit, MI 48206

    Sponsored
    For Sale
    $100,000

    Vacant Detroit storefront, rehab potential.

    Property size:
    6,658 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional redevelopment opportunity presents three buildings totaling 6,658 square feet on a 0.37-acre lot in Detroit, Michigan. Located at 3916 Joy Road, this vacant property offers significant potential for a mixed-use project. The buildings, constructed in 1923, sit on a parcel zoned B4, allowing for a variety of uses. The property features two stories and a full basement. Originally configured as two apartments and a studio above storefronts, this presents a unique chance to create a vibrant retail space. The asking price is $100,000, translating to $15.02 per square foot. An adjacent 11,283 square foot land parcel is also available for purchase. This prime location is situated near the intersection of Joy Road and Dexter, in the Nardin Park/Jamison area, providing convenient access to West Grand River and I-96. The property's proximity to a longstanding Family Dollar store further enhances its visibility and potential for success. This is an ideal investment for those seeking a substantial mixed-use preservation project with high return potential.

    Property Features for 3916 Joy Rd

    General Information

    Property type
    Individual retail properties
    Square Feet
    6,658 SF
    Lot Size
    16,117 SF

    Building Details

    Year Built
    1923
    Buildings
    3
    Stories
    2

    HighLights

    • $100,000 asking price for a vacant retail storefront redevelopment opportunity.
    • 6,658 square feet, priced at $15.02 per square foot.
    • Located at 3916 Joy Rd, Detroit, MI 48206, in the Nardin Park/Jamison area, near W Grand River & I‑96.
    • Three buildings, two stories, on a 0.37‑acre lot, built in 1923, with B4 zoning.
    • Vacant, mixed‑use property with potential for full rehabilitation; previously housed two apartments and a studio above a full basement.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    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
    -83.11929231206
    Latitude
    42.36933330608

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    FAQs

    What type of property is this?
    Individual retail property - Vacant Detroit storefront, rehab potential.
    Where is this individual retail property located?
    The property is located at 3916 Joy Rd Detroit, MI.
    What is the asking price?
    The asking price for this property is $100,000.
    What are key features of this property?
    This property features: $100,000 asking price for a vacant retail storefront redevelopment opportunity.; 6,658 square feet, priced at $15.02 per square foot.; Located at 3916 Joy Rd, Detroit, MI 48206, in the Nardin Park/Jamison area, near W Grand River & I-96.
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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
    3916 Joy Rd Detroit, MI 48206
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