2500 Alter Rd, Detroit, MI 48215
For Sale
1 / 77
Incredible business opportunity. This large parcel is ready for development on seven vacant lots bordering Grosse Pointe Park and all the amenities it has to offer. With six contiguous parcels forming a substantial development footprint, plus one additional lot, this property provides unmatched flexibility for a variety of projects. Large brick structure on one of the lots has plumbing and electrical utilities. Whether you're envisioning residential housing, mixed-use space, or a creative commercial venture, these lots offer the scale and location to make it happen. The contiguous section allows for a unified site plan, while the separate lot provides added possibilities such as additional parking, a satellite retail space, or a standalone residential unit. The area's proximity to Grosse Pointe means you're tapping into a strong market with high demand, exceptional schools, vibrant shopping and dining, and easy access to waterfront recreation. The surrounding community is well-established, offering a built-in customer base and an attractive environment for future residents or businesses. Zoned PD - Planned Development Development. With utilities available and the potential for multiple configurations, the development options are truly endless. Bring your vision as this is the blank canvas you've been waiting for. Seize this rare chance to secure a significant piece of property in a prime location poised for growth with multiple large developments already in progress. bikeScore: 54, Bikeable walkScore: 54, Somewhat Walkable transitScore: 39, Some Transit
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
