1432 Gratiot Ave Detroit, MI 48207
- Retail space
- 4,576 SF
- 0.05 lot acres
Current Use by Public Records
- Retail space
Property Details for 1432 Gratiot Ave
- Year built
- 1932
- Lot size
- 0.05 lot acres
- Property size
- 4,576 SF
- Zone code
- B4
- Property type
- Retail space
- APN
- 07000779.
- APU
- 7000779
Description
This exceptional 5,476 square foot industrial property, situated on a 0.05-acre lot at 1432 Gratiot in Detroit, Michigan, presents a compelling investment opportunity. The building, a historically significant four-unit structure located in the vibrant Eastern Market district, offers significant value-add potential. Currently configured as four apartments, the property boasts unique architectural details. The two second-floor units feature a desirable loft style with exposed brick, hardwood floors, and abundant natural light. The two first-floor units, originally storefronts, retain their original tin ceilings and have been converted into apartments, each with a full basement. This versatile layout allows for a variety of uses. A new owner could maintain the existing apartment configuration, or capitalize on the ground floor's potential for commercial use, integrating a business into the Eastern Market's thriving environment. The building is in excellent condition and is ready for immediate occupancy. The property is being sold "as is," with all terms and conditions subject to buyer's verification and acceptance. Highest and best offers are due by February 4th, 2025, at 5:00 PM. This is a rare chance to acquire a well-maintained, historically significant property in a prime Detroit location with strong potential for a high return on investment.
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
- -83.0381
- Latitude
- 42.3439
- CBSA code
- 19820
- CBSA name
- DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
