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Property profile & analytics
FOR LEASE
Retail space

20404 Woodward Ave Detroit, MI 48203

4,286 SF 0.17 ac lot Built 1948
Individually Owned 2-yr Hold Absentee Owner Free & Clear
Property ID
US43-1130540
Property summary
AI-generated overview

This exceptional 4,286 square foot freestanding retail building presents a unique investment opportunity. Completely renovated in 2024, the property boasts a modern façade and enjoys unparalleled visibility on Woodward Avenue. Situated in a prime location within the Gateway Marketplace shopping center, this single-tenant space benefits from the significant draw of over 340,000 square feet of established retail neighbors, including major brands like Meijer, Marshalls, Planet Fitness, and Five Below. The building's strategic placement offers excellent access and exposure to high traffic volume. The B-3 Shopping District zoning allows for a wide range of retail uses. The property's proximity to the new Amazon fulfillment center, located just north of the former Michigan State Fairgrounds, further enhances its desirability and potential for strong returns. With its recent renovation, modern design, and advantageous location within a thriving retail hub, this property is ideally suited for a variety of retail businesses seeking a high-impact presence in a bustling commercial area. The entire 4,286 square feet is currently vacant and ready for immediate occupancy. This is a rare opportunity to secure a prominent retail space in a rapidly developing area.

Property profile
Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1948
Total area 4,286 SF
Lot 0.17 ac (7,405 SF)
Zoning code B3
APN 01009852-75
UPID US43-1130540
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
$280k
Owner & transaction history
James L Sears · 2 yrs held
James L Sears
since 2024
1 recorded transaction
2024
Price N/A
Zoning & alternative use
B3 · Detroit, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description

Ord. No. 11-05, § 1(61-7-2), 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…

Zone name Shopping District
General category COMMERCIAL
Zone area 200.46 ac
Source code of ordinances
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