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15405 Gratiot Ave Detroit, MI 48205-1385

OFF-MARKET Community centers Google Maps
24,194 SF 2.24 ac lot Built 1999
Entity Owned 10-yr Hold Absentee Owner ~ Est. High Equity
Estimated value (blended)
$625k
Range $563k – $688k (±10%)
Property ID US43-1126537

Property summary

AI-generated overview

This exceptional 56,624 square foot retail property, situated at 15405 Gratiot Avenue in Detroit, Michigan, presents a compelling investment opportunity. Currently configured as a single-tenant space, the property offers 56,624 total square feet, with 1,600 square feet currently vacant. This presents a unique chance to lease or occupy a portion of this established retail center. The property is classified as a Neighborhood Center, indicating its strategic location within a thriving community. Located in Wayne County, the property benefits from excellent visibility and accessibility along Gratiot Avenue, a major thoroughfare in Detroit. The 48205 zip code boasts a strong demographic profile, making it an ideal location for a variety of retail businesses. The existing structure provides ample space for a wide range of retail uses, and the vacant 1,600 square feet offers immediate expansion potential for existing tenants or a new business looking to establish a presence in this vibrant area. The property's size and location make it an attractive option for businesses seeking a prominent position in the Detroit market. Further details regarding lease terms and potential development opportunities are available upon request. This is a prime opportunity to acquire a well-positioned retail property in a growing area of Detroit.

Property profile

Verified
Property type Community centers
Use group MINI-MALL
Year built 1999
Total area 24,194 SF
Lot 2.24 ac (97,574 SF)
Zoning code B4
APN 21029212.
UPID US43-1126537

Cap rate & NOI

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

Current use

Occupant on record · Public records
  • Clothing & Fashion Store
  • Mobile Phone Store Electronics & Wireless Store
  • (Bike/Boat/Book/etc) Store
  • Arcade & Gaming Center Electronics & Wireless Store
  • Discount Store

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$2.21M
Blend (final) Blend
$625k

Owner & transaction history

since 2016
4 recorded transactions
2026
Price N/A
2026
Price N/A
2016
Price N/A
1969
Price N/A

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) $2.2M +20.5%
Restaurant $2.2M +20.4%

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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