Property profile

16729 E Warren Ave Detroit, MI 48224

FOR SALE
Banks
Property ID
US43-0369583
6,459 SF 0.28 ac lot Built 1964
Entity Owned 2-yr Hold Absentee Owner Free & Clear
Saved · see the list in your Dashboard

Property summary

AI-generated overview

This exceptional 6,459-square-foot retail building, located at 16729 E Warren Ave in Detroit, Michigan, presents a unique investment opportunity. Situated on a 0.28-acre lot, this single-tenant property boasts a prominent location in the Detroit E of Woodward submarket, easily accessible via Outer Dr. Built in 1964, the two-story structure offers ample space for a variety of retail uses. The building is currently entirely vacant, providing immediate occupancy for a new tenant. Key features include 220-volt, 3-phase power, making it suitable for businesses with significant energy demands. The property's zoning is designated as B4, allowing for a range of commercial activities. Its previous use as a bank, complete with a drive-thru, offers a distinct advantage for businesses seeking convenient customer access. The Wayne County property, with APN 21002912-7, and its 48224 zip code, provides excellent visibility and accessibility within a thriving commercial area. This is an ideal opportunity for an entrepreneur or investor seeking a well-located, substantial retail space in a dynamic Detroit neighborhood. The building's size and features make it suitable for a wide range of retail concepts. The vacant status allows for complete customization to meet the specific needs of a new tenant. This property offers significant potential for growth and return on investment.

Property profile

Verified
Property type Banks
Use group FINANCIAL BUILDING
Year built 1964
Total area 6,459 SF
Lot 0.28 ac (12,197 SF)
Zoning code B4
APN 21002912-7
UPID US43-0369583

Cap rate & NOI

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

Location

16729 E Warren Ave Detroit, MI 48224
Detroit metro Census 501400 DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$90k

Owner & transaction history

since 2023
Last sale
$75,750
3 recorded transactions
2023
$51,000
2014
$75,750
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

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
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Please enter message