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Property profile & analytics
OFF-MARKET
Retail space

22220 Gratiot Ave Eastpointe, MI 48021-2229

1,600 SF 0.05 ac lot Built 1958
Individually Owned 4-yr Hold Free & Clear
Property ID
US43-0851957
Property summary
AI-generated overview

This exceptional investment opportunity presents a 4,800 square foot shopping center ideally situated in Eastpointe, MI, at 22220-22228 Gratiot. The property sits on a 1.05-acre lot and comprises three individual units, each boasting 1600 square feet of space. Each unit benefits from separate utility meters, offering flexibility and independent control for tenants or potential buyers. The seller is open to selling each unit individually, presenting a unique opportunity for both large-scale investors and smaller-scale buyers. Significant recent improvements enhance the property's value and appeal. These upgrades include updated electrical systems and plumbing, along with the replacement of all windows and doors, ensuring modern functionality and curb appeal. Currently, one unit is occupied by a month-to-month tenant operating a barber shop, providing immediate rental income potential. This property offers a compelling blend of existing income, significant recent renovations, and the potential for further development or individual unit sales, making it an attractive investment in a desirable Eastpointe location. The asking price for the entire property is $359,999.

Property profile
Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1958
Total area 1,600 SF
Lot 0.05 ac (2,004 SF)
Zoning code B-3
APN 02-14-31-176-006
UPID US43-0851957
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
Current use
Occupant on record · Public records
  • Rodney's Barber Kings Barber Shop
  • The SIFT Group Marketing & Advertising
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
by Request
Owner & transaction history
Jaspal Singh Gill · 4 yrs held
Jaspal Singh Gill
since 2022
Last sale
$150,000
3 recorded transactions
2022
$125,000
2022
$150,000
2014
Price N/A
Zoning & alternative use
B-3 · Eastpointe, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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