Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    21243 Grand River Ave Detroit, MI 48219

    • Office Properties & Spaces
    • 1,188 SF
    • 0.13 lot acres
    For Sale
    View listing
    $199,500
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-4837613
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Office Properties & Spaces

    Property Details for 21243 Grand River Ave

    Year built
    1942
    Lot size
    0.13 lot acres
    Property size
    1,188 SF
    Zone code
    B4
    Property type
    Office Properties & Spaces
    APN
    22007450-3
    APU
    220074503

    Description

    This exceptional 1,200 square foot storefront, located at 21243 Grand River Avenue in Detroit, Michigan, presents a lucrative investment opportunity. Built in 1942 and renovated in 2005, this single-story building sits on a 0.13-acre lot (APN: W22I007450C3) and offers a prime retail space in a high-traffic area. The property benefits from its proximity to a newly constructed Meijer Thrifty Acres store and a recently opened Dollar Tree, ensuring consistent foot traffic exceeding 100,000 daily visitors. This strategic location makes it ideal for a variety of businesses. The versatile space is suitable for various retail concepts, including but not limited to: insurance offices, tobacco stores, urgent care centers, coffee shops, donut shops, phone stores, or even an auto dealership. Adding to its appeal, the property includes two fully equipped mechanic bays, expanding its potential uses and revenue streams. The asking price for this exceptional property is $199,900. Don't miss this chance to own a thriving business in a rapidly developing area of Detroit.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Detroit
    County
    Wayne
    State
    Michigan
    Longitude
    -83.2507
    Latitude
    42.4135
    CBSA code
    19820
    CBSA name
    DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2020
    $2,088
    $0.00
    $0.00
    $28,400
    -
    $0.00
    $0.00
    $56,800

    Comparable in this City

    • Value Estimation by Request
      800 SF

      17270 Burgess

      OFFICE (GENERAL) • 800 SF
      17270 Burgess, Detroit, MI 48219-3268
      View Details
    • Value Estimation by Request
      3,800 SF

      19000 Winston St

      OFFICE BUILDING • 3,800 SF
      19000 Winston St, Detroit, MI 48219-2277
      View Details
    • Value Estimation by Request
      4,076 SF

      18241 Mcnichols Rd

      DENTAL BUILDING • 4,076 SF
      18241 Mcnichols Rd, Detroit, MI 48219-4176
      View Details
    • Value Estimation by Request
      1,198 SF

      18233 Mcnichols Rd

      OFFICE BUILDING • 1,198 SF
      18233 Mcnichols Rd, Detroit, MI 48219-4111
      View Details
    • Value Estimation by Request
      500 SF

      20633 Grand Riv Ave

      DENTAL BUILDING • 500 SF
      20633 Grand Riv Ave, Detroit, MI 48219-3917
      View Details
    • Value Estimation by Request
      3,528 SF

      19316 7th Mile Rd

      DENTAL BUILDING • 3,528 SF
      19316 7th Mile Rd, Detroit, MI 48219-2756
      View Details

    Similar Nearby for Sale

    • $65,000
      3,166 SF

      W 7 Mile Road Retail Opportunity

      Detroit Retail/Office Rehab - $65,000
      20534 Seven Mile Rd, Detroit, MI 48219
      View Details
    • $145,000

      Mixed-Use Facility with Storage

      Mixed-use property featuring office, storage, and open space.
      17270 Burgess, Detroit, MI 48219
      View Details
    • $48,900

      Main Street Retail/Office Opportunity

      Main street location suitable for retail, office, or service business.
      18935 W 7 Mile Rd, Detroit, MI 48219
      View Details
    • $185,000
      5,107 SF

      Versatile Detroit Property For Sale

      Over 5,000 SF suitable for office, retail, or events.
      18630 W Mcnichols Rd, Detroit, MI 48219
      View Details
    • $349,000
      3,000 SF

      8 Mile Road Retail Opportunity

      Detroit Retail Space - $349,000
      21613 Eight Mile Rd, Detroit, MI 48219
      View Details
    • $790,000

      High-Traffic Corner Redevelopment Opportunity

      0.60 AC corner lot suitable for redevelopment or commercial use.
      19050 Telegraph Rd, Detroit, MI 48219
      View Details

    Similar Nearby for Lease

    • $1,200 /Mo
      1,400 SF

      Turnkey Office Space Available

      Office space with lobby, fireplace, offices, kitchenette, and storage.
      18244 W Mcnichols Rd, Detroit, MI 48219
      View Details
    • $1,200 /Mo

      Turnkey Office Space Available

      Office space with lobby, fireplace, offices, kitchenette, bathrooms, storage.
      18244 W Mcnichols Rd, Detroit, MI 48219
      View Details
    • $10 SF/Yr
      1,400 SF

      Detroit Creative Office Space

      Turnkey Office, 1400 sq ft, Detroit
      18244 Mcnichols Rd, Detroit, MI 48219
      View Details
    • $10 SF/Yr
      1,400 SF

      Detroit Creative Office Space

      1,400 sq ft Retail Space, Ideal Salon
      18246 Mcnichols Rd, Detroit, MI 48219
      View Details
    • $3,500 /Mo

      Remodeled Space with Secured Parking

      Remodeled space suitable for salon, medical, office, or retail.
      20955 7 Mile Rd W, Detroit, MI 48219
      View Details
    • $900 /Mo

      Retail or Event Space Available

      Established location suitable for retail or events. Updated building.
      18926 W Mcnichols Rd, Detroit, MI 48219
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    21243 Grand River Ave
    Detroit, MI 48219
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    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
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.