Property summary
This exceptional Detroit industrial property offers a unique investment opportunity encompassing three buildings totaling 53,240 square feet on a 3.74-acre lot. The property is zoned M3 and boasts high visibility commercial frontage on Gratiot Avenue. Building 1, a 24,240 square foot structure, combines retail/office/warehouse space with three loading docks, overhead doors, and upstairs office areas. Building 2 is an 8,000 square foot garage building featuring multiple overhead doors on both the front and rear. Building 3, a 21,000 square foot warehouse, includes two loading docks, an overhead door, a racking system, a fully sprinklered system, and is described as extra clean with a small office area. The property features a large, fenced, and gated yard providing ample customer parking. Key advantages include proximity to I-94 and Conner Avenue, adjacency to an active rail line with potential spur line access, and location next to a brand new 650,000 square foot Lear facility and a 2-acre city-owned industrial site currently available. The property also benefits from its close proximity to the City Airport. All buildings are in excellent condition and feature newer roofing. The asking price is $1,550,000, or $29.11 per square foot. This is a rare opportunity to acquire a well-maintained, strategically located industrial complex with significant potential.
Property profile
VerifiedCap rate & NOI
Current use
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Furniture & Home Goods Home Decor Store
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Furniture & Home Goods Home Decor Store
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(Bike/Boat/Book/etc) Store
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Furniture & Home Goods Home Decor Store
Location
Value estimations
Owner & transaction history
Zoning & alternative use
ral Services District. (Code 1984, § 61-7-3; Ord. No. 11-05, § 1(61-7-3), eff. 5-28-2005) Sec. 50-7-4. - Industrial Districts. Industrial districts within the City are as follows: (1) M1 Limited Industrial District. (2)…
Comparables
6 recent transactions · within 1.5 miComparable in this City
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Value estimation
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Cap rate
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Price sensitivity
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Property tax & assessments
Tax year 2020Property description
Physical attributes from public recordsZoning & alternative use
M2 · Detroit, MIral Services District. (Code 1984, § 61-7-3; Ord. No. 11-05, § 1(61-7-3), eff. 5-28-2005) Sec. 50-7-4. - Industrial Districts. Industrial districts within the City are as follows: (1) M1 Limited Industrial District. (2)…
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Official district profile
ral Services District. (Code 1984, § 61-7-3; Ord. No. 11-05, § 1(61-7-3), eff. 5-28-2005) Sec. 50-7-4. - Industrial Districts. Industrial districts within the City are as follows: (1) M1 Limited Industrial District. (2)…
What can be built and operated here — officially.
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