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Property profile & analytics
FOR SALE
Retail space

17422 Woodward Ave Detroit, MI 48203

2,900 SF 0.03 ac lot Built 1925
Individually Owned 6-yr Hold Free & Clear
Property ID
US43-1521570
Property summary
AI-generated overview

This exceptional mixed-use property, located at 17422 & 17428 Woodward Avenue in Detroit, Michigan, presents a compelling value-add investment opportunity. The property consists of two, two-story buildings totaling 0.07 acres, built in 1925 and zoned B4. Currently in shell condition, requiring complete rehabilitation, this property offers significant upside potential. Situated across from Palmer Park and the Detroit Golf Club, the buildings benefit from high visibility on a major thoroughfare with over 30,000 vehicles passing daily. The versatile space is ideal for a variety of uses, including medical offices, beauty salons, or professional businesses, with upper-level units easily adaptable into apartments. The asking price is $400,000. The sale includes both buildings, but excludes the existing billboard. This is an "as is" sale; buyers are responsible for verifying all information. This prime location offers unparalleled potential for businesses seeking high traffic and visibility in a rapidly developing area of Detroit. The property's strategic location and substantial potential for redevelopment make it an attractive investment for discerning buyers.

Property profile
Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1925
Total area 2,900 SF
Lot 0.03 ac (1,307 SF)
Zoning code B4
APN 01009692.
UPID US43-1521570
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
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$215k
Owner & transaction history
Alejandro O Leon · 6 yrs held
Alejandro O Leon
since 2020
1 recorded transaction
2020
Price N/A
Zoning & alternative use
B4 · Detroit, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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) B4 General Business District. (5) B5 Major Business District. (6) B6 General Services District. (Code 1984, § 61-7-3; Ord. No. 11-05, § 1(61…

Zone name General Business District
General category COMMERCIAL
Zone area 3,533.46 ac
Source code of ordinances
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