For Sale
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Property summary
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
VerifiedCap rate & NOI
Current use
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Hardware & Home Improvement General Contractor
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Wedding Service
Location
Value estimations
Owner & transaction history
Zoning & alternative use
Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
from $99/month
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
from $99/month
Derived from the Eastpointe market rent, vacancy and expense benchmarks for this use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Property tax & assessments
Tax year 2022Property description
Physical attributes from public recordsZoning & alternative use
B-3 · Eastpointe, MIZoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for B-3 in Eastpointe, MI.
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Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
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