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13297 E Mcnichols Rd Detroit, MI 48205

Office buildings Google Maps
12,038 SF 0.47 ac lot Built 1950
Entity Owned 29-yr Hold Free & Clear
Estimated value (blended)
$250k
Range $225k – $275k (±10%)
Property ID US43-1232261

Property summary

AI-generated overview

This 12,038 square foot, single-story building presents a unique investment opportunity in Detroit's Gratiot Corridor. Located at 13297 E McNichols Rd, in Wayne County, Michigan, 48205, this Class B property sits on a 24,700 square foot lot and is zoned B4. Originally built in 1950 and renovated in 2008, the building is currently vacant and offers flexible use options. Ideal for a variety of uses, including medical office, retail, event space, or showroom, this property boasts a clean and well-maintained interior. The asking price is $450,000, translating to $37.38 per square foot. The building's previous use as an Eastside Service Center for Detroit Water suggests a history of reliable infrastructure. The sale includes the potential for the inclusion of existing furniture, fixtures, and equipment (FFE). This property represents a strong potential for a variety of businesses seeking a versatile space in a desirable location. The property's size and zoning provide ample opportunity for customization and expansion. Its location within the Gratiot Corridor offers excellent visibility and accessibility. This is a rare chance to acquire a well-maintained, adaptable building in a thriving Detroit neighborhood.

Property profile

Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 1950
Total area 12,038 SF
Lot 0.47 ac (20,473 SF)
Zoning code B4
APN 21020297-301
UPID US43-1232261

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
by Request
Comparable Approach Comparable
$742k
Blend (final) Blend
$250k

Owner & transaction history

Zoning & alternative use

B4 · Detroit, MI
Zoning description

), eff. 5-28-2005) Sec. 50-7-3. - Business Districts. Business districts within the City are as follows: (1) B1 Restricted Business District. (2) B2 Local Business and Residential District. (3) B3 Shopping District. (4)…

General category COMMERCIAL
Top alternative use upside
Commercial (general) $1.1M +48.1%
Restaurant $1.1M +48.0%
Neighborhood: shopping center $910,000 +22.9%

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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More about this property
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