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    OFF-MARKET
    Grocery and convenience stores

    24850 Gratiot Ave, Eastpointe, MI 48021-3315

    4,716 SF 0.11 ac lot Built 1947
    Entity Owned 5-yr Hold Free & Clear
    Property ID
    US43-0737231
    Property summary
    AI-generated overview

    This exceptional retail property, located at 24850 Gratiot Avenue in Eastpointe, Michigan, presents a lucrative investment opportunity. Boasting 4,716 square feet of space on a 0.11-acre lot, this property is currently configured as an event hall leased to a tenant and includes a second-floor apartment. The building is zoned B3, allowing for a variety of commercial uses. The asking price is $465,000, translating to a price per square foot of $98.60. Ample parking is available with 15 spaces, and the property benefits from an easement providing shared parking lot access. Situated in Macomb County, Michigan, with a zip code of 48021, this location offers high visibility and accessibility on Gratiot Avenue. The property's current configuration and zoning provide flexibility for a range of potential uses, making it an attractive option for both investors and owner-operators seeking a high-traffic location in a thriving commercial area. The existing lease provides immediate income potential, while the second-floor apartment adds to the property's overall value and versatility. This is a rare opportunity to acquire a well-located, established commercial property in a desirable market.

    Property profile
    Verified
    Property type Grocery and convenience stores
    Use group GROCERY, SUPERMARKET
    Year built 1947
    Total area 4,716 SF
    Lot 0.11 ac (4,617 SF)
    Zoning code B-3
    APN 02-14-30-230-001
    UPID US43-0737231
    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
    • Rapid service garage crews Hardware & Home Improvement General Contractor
    • III Pointes Event Hall Wedding Service
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
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    Owner & transaction history
    24850 Gratiot Ave LLC · 5 yrs held
    24850 Gratiot Ave LLC
    since 2020
    Last sale
    $230,000
    3 recorded transactions
    2020
    2017
    2010
    $230,000
    Zoning & alternative use
    B-3 · Eastpointe, MI
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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