16301 Eight Mile Rd Detroit, MI 48235
- Retail properties
- 3,781 SF
- 0.54 lot acres
Current Use by Public Records
- Retail properties
Property Details for 16301 Eight Mile Rd
- Year built
- 1960
- Lot size
- 0.54 lot acres
- Property size
- 3,781 SF
- Property type
- Retail properties
- Property subtype
- Retail space
Description
This exceptional 3,781 square foot retail property, located at 16301 W 8 Mile Road in Detroit, Michigan, presents a lucrative investment opportunity. Situated in a high-traffic area with over 145,000 vehicles passing daily, this vacant building offers unparalleled visibility and accessibility. The property boasts a convenient 0.54-acre lot, providing ample parking for customers. Built in 1960, the single-building structure is zoned B4-General Business District, making it suitable for a variety of retail uses, particularly auto-related businesses given its previous use as an auto shop and storefront. The asking price is $574,000, translating to $151.81 per square foot. This represents a strong value proposition in a prime Detroit location. The seller is open to considering a land contract, offering flexible financing options for potential buyers. This property's high visibility, ample parking, and flexible financing options make it an ideal investment for entrepreneurs seeking a thriving retail location on one of Detroit's busiest thoroughfares. The property is currently vacant, allowing for immediate occupancy and customization to suit the buyer's specific needs. This is a rare opportunity to acquire a well-located, sizable retail space in a high-demand area.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Detroit
- County
- Wayne
- State
- Michigan
- Longitude
- -83.2097
- Latitude
- 42.4442
