24850 Gratiot Ave Eastpointe, MI 48021
- Grocery and convenience stores
- 4,716 SF
- 0.11 lot acres
Current Use by Public Records
- Rapid service garage crews / Door Supplier / Repair Service
- III Pointes Event Hall / Banquet Hall
Property Details for 24850 Gratiot Ave
- Year built
- 1947
- Lot size
- 0.11 lot acres
- Property size
- 4,716 SF
- Zone code
- B-3
- Property type
- Grocery and convenience stores
- APN
- 02-14-30-230-001
- APU
- 21430230001
Description
This exceptional retail property, located at 24850 Gratiot Avenue in Eastpointe, Michigan, presents a lucrative investment opportunity. Boasting 4,716 square feet of space on a 0.11-acre lot, this property is currently configured as an event hall leased to a tenant and includes a second-floor apartment. The building is zoned B3, allowing for a variety of commercial uses. The asking price is $465,000, translating to a price per square foot of $98.60. Ample parking is available with 15 spaces, and the property benefits from an easement providing shared parking lot access. Situated in Macomb County, Michigan, with a zip code of 48021, this location offers high visibility and accessibility on Gratiot Avenue. The property's current configuration and zoning provide flexibility for a range of potential uses, making it an attractive option for both investors and owner-operators seeking a high-traffic location in a thriving commercial area. The existing lease provides immediate income potential, while the second-floor apartment adds to the property's overall value and versatility. This is a rare opportunity to acquire a well-located, established commercial property in a desirable market.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $255,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $225,000
- 6.5%
- $245,000
- 7%
- $220,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $220,000
- Geo Method
- $235,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $205,000
- Retail
- $210,000
- Mixed-Use
- $245,000
- Hospitality
- $210,000
- Educational
- $225,000
- Residential Income
- $205,000
- Energy
- $225,000
- Income-Based Land
- $220,000
- Food Service
- $235,000
Location Insight
- Map
- Local Demand
- City
- Eastpointe
- County
- Macomb
- State
- Michigan
- Longitude
- -82.9481
- Latitude
- 42.4787
- CBSA code
- 19820
- CBSA name
- DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
