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15651 Warren Ave Detroit, MI 48228-3733

OFF-MARKET Auto shops Google Maps
3,330 SF 0.23 ac lot Built 1962
Entity Owned 6-yr Hold Free & Clear
Estimated value (blended)
$325k
Range $293k – $358k (±10%)
Property ID US43-0380882

Property summary

AI-generated overview

This exceptional mixed-use property, located at 15651 West Warren Avenue in Detroit, Michigan (zip code 48228), presents a lucrative investment opportunity. Priced at $89,000, this 100% occupied billboard offers immediate income generation. The property is classified as a business for sale, encompassing retail and advertisement space. The sale is conducted by the owner, and the property is available for immediate purchase. The building is a single-unit structure, ideal for owner-users seeking a hands-on investment. The current occupancy rate is 100%, ensuring a steady revenue stream. While the current lease expires on October 30, 2024, the prime location in a thriving Detroit community guarantees strong potential for future leasing and advertising revenue. This billboard represents a chance to capitalize on a high-demand advertising space within a vibrant and growing neighborhood. The property is situated in Wayne County, offering easy access to major transportation routes and a high volume of daily traffic, maximizing advertising exposure. This is a rare opportunity to acquire a profitable, established billboard in a desirable location. Don't miss this chance to secure a strong return on your investment.

Property profile

Verified
Property type Auto shops
Use group AUTO REPAIR, GARAGE
Year built 1962
Total area 3,330 SF
Lot 0.23 ac (10,019 SF)
Zoning code B4
APN 22000058-62
UPID US43-0380882

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
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by Request
CAP Approach CAP
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Comparable Approach Comparable
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Blend (final) Blend
$325k

Owner & transaction history

since 2019
3 recorded transactions
2019
Price N/A
2019
Price N/A
2009
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

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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