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Property profile & analytics
FOR SALE
Banks

16729 E Warren Ave Detroit, MI 48224

6,459 SF 0.28 ac lot Built 1964
Entity Owned 2-yr Hold Absentee Owner Free & Clear
Property ID
US43-0369583
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
Implied cap rate, NOI & suggested price
Cap 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
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Owner & transaction history
Newport Assets LLC · 2 yrs held
Newport Assets LLC
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
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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