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15924 Grand River Ave Detroit, MI 48227

Retail space Google Maps
6,640 SF 0.13 ac lot Built 1946
Entity Owned 9-yr Hold Absentee Owner ~ Est. High Equity
No photos on file
For Sale
$290,000 6,640 SF
15924 Grand River Ave, Detroit, MI 48227
View Listing →
Estimated value (blended)
$290k
Range $261k – $319k (±10%)
Property ID US43-0995624

Property summary

AI-generated overview

This exceptional 8,280-square-foot, two-story building presents a unique opportunity for retail and/or office use in a prime Detroit location. Situated on Grand River Avenue, between Southfield Freeway and Greenfield Road, this property boasts excellent visibility and accessibility. The building, which has undergone recent renovations, is currently available for sale or lease. One available space offers 4,140 square feet of adaptable, white-boxed space, perfect for businesses seeking a blank canvas to customize their ideal layout. The property sits on a 0.2-acre lot and offers ample parking, a significant advantage for both employees and customers. The building's traditional office subtype makes it suitable for a variety of businesses, from retail shops to professional offices. Its multi-tenant capacity allows for flexibility in leasing arrangements. Located in Wayne County, Michigan, with a Detroit address of 15924 Grand River Ave, zip code 48227, this property offers a strategic location with high traffic volume and strong potential for growth. The building's modern updates and convenient location make it an attractive investment opportunity. Don't miss this chance to secure a thriving business space in a rapidly developing area of Detroit.

Property profile

Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1946
Total area 6,640 SF
Lot 0.13 ac (5,663 SF)
Zoning code B4
APN 22008253-4
UPID US43-0995624

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
$290k

Owner & transaction history

since 2016
5 recorded transactions
2023
Price N/A
2021
Price N/A
2021
Price N/A
2016
$31,900
2016
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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