401 Grand River Ave Detroit, MI 48226
- Commercial land
- 5,979 SF
- 0.14 lot acres
Current Use by Public Records
- Elevate Cannabis Dispensary / Recreation Center
Property Details for 401 Grand River Ave
- Lot size
- 0.14 lot acres
- Property size
- 5,979 SF
- Zone code
- B5
- Property type
- Commercial land
- APN
- 02000335.
- APU
- 2000335
Description
This exceptional investment opportunity presents a 0.14-acre commercial land parcel located at 401 W. Grand River Ave, Detroit, MI 48226, in Wayne County. Currently configured as a surface parking lot accommodating 25 vehicles, this property offers significant potential. The asking price is $1,595,000. The lot boasts a remarkable Walk Score of 97, reflecting its highly desirable urban setting. Its strategic location within the Central Business District places it in close proximity to Woodward Avenue and the I-75 Freeway, ensuring excellent accessibility. Furthermore, its proximity to the Detroit People Mover enhances its appeal. The property's zoning is designated as Commercial, allowing for a variety of potential uses. The densely populated area surrounding the property, with over 78,000 residents within a 3-mile radius, guarantees a consistent demand for parking and other commercial services. The total land area is 6,011 square feet. This property represents a rare opportunity to acquire a high-value asset in a thriving urban environment. The property's location and high Walk Score make it an ideal investment for those seeking strong returns in a dynamic market.
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
- -83.0527
- Latitude
- 42.3336
- CBSA code
- 19820
- CBSA name
- DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
