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13241 W Mcnichols Rd Detroit, MI 48235

Retail space Google Maps
3,765 SF 0.09 ac lot Built 1939
Entity Owned 3-yr Hold Absentee Owner Free & Clear
Estimated value (blended)
$250k
Range $225k – $275k (±10%)
Property ID US43-1241373

Property summary

AI-generated overview

This 3,765 square foot retail building, located at 13241 W McNichols Rd in Detroit, Michigan, presents a unique investment opportunity. Built in 1939, the single-story, multi-tenant property sits on a 0.09-acre lot and is zoned B2, offering considerable flexibility for various retail uses. Currently in shell condition, the building provides a blank canvas for a buyer to customize to their specific needs. The asking price is $175,000, translating to a land value of $46.48 per square foot. The property's convenient location offers excellent visibility and accessibility, with proximity to the M-10 (John C Lodge Freeway) providing easy access for customers and employees. The Wayne County property features one building with a total of 3,765 square feet. Annual expenses total $3,782. The property's APN is 22012772 and the zip code is 48235. This is an exceptional opportunity to acquire a well-situated retail property in a growing area of Detroit. The building's size and zoning provide ample potential for a variety of retail ventures. Serious inquiries are encouraged.

Property profile

Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1939
Total area 3,765 SF
Lot 0.09 ac (3,920 SF)
Zoning code B2
APN 22012772.
UPID US43-1241373

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
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Comparable Approach Comparable
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Blend (final) Blend
$250k

Owner & transaction history

since 2022
2 recorded transactions
2022
Price N/A
2018
Price N/A

Zoning & alternative use

B2 · Detroit, MI
Zoning description

ity Residential District. (Code 1984, § 61-7-2; Ord. No. 11-05, § 1(61-7-2), eff. 5-28-2005) Sec. 50-7-3. - Business Districts. Business districts within the City are as follows: (1) B1 Restricted Business District. (2)…

General category COMMERCIAL

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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