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Property summary
This mixed-use property in Detroit, Michigan (48215) is located on E Jefferson Avenue near the border area adjacent to Grosse Pointe. The building comprises approximately 5,874 square feet and is arranged with three separate ground-level commercial storefronts and two residential apartments on the upper level. The two side storefronts are each about 980 square feet and include dedicated private basements that can be used for inventory or storage. One side unit is configured for a men’s barber shop, while the other storefront is suitable for a women’s beauty salon or a comparable retail/service concept. The center storefront is a vacant restaurant space that includes existing commercial kitchen equipment and dining/table area. The upper level contains two 2-bedroom, 1-bath apartments of approximately 1,425 square feet each. Overall, the property is configured to support combined retail and residential use within the same building footprint, with on-building residential units above and storage basements serving the respective ground-level storefronts.
Property profile
VerifiedCap rate & NOI
Current use
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Barber Shop
Location
Value estimations
Owner & transaction history
Zoning & alternative use
), 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)…
Comparables
6 recent transactions · within 1.5 miComparable in this City
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Value estimation
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Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
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Derived from the Detroit market rent, vacancy and expense benchmarks for this use type.
Price sensitivity
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Property tax & assessments
Tax year 2020Property description
Physical attributes from public recordsZoning & alternative use
B4 · Detroit, MI), 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)…
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Official district profile
), 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)…
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for B4 in Detroit, MI.
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