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Property profile & analytics
FOR SALE
Grocery and convenience stores

24850 Gratiot Ave Eastpointe, MI 48021

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
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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
Price N/A
2017
Price N/A
2010
$230,000
Zoning & alternative use
B-3 · Eastpointe, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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