31240 Groesbeck Hwy, Fraser, MI 48026
- Commercial real estate
- 63,602 SF
- 6.17 lot acres
Current Use by Public Records
- Coinstar / Bank / Credit Union
- Huntington Bank / Bank / Loan Service
- Oakridge Supermarket / Grocery & Convenience Store / Food Market
- Huntington Bank - ATM Only / Atm
- Family Dollar / Discount Store
Property Details for 31240 Groesbeck Hwy
- Year built
- 1970
- Lot size
- 6.17 lot acres
- Zone code
- CG
- Property type
- Commercial real estate
- APN
- 03-14-05-376-032
- APU
- 31405376032
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Dec 4, 2023 | $5,250,000 | Roseville Investment Holding LLC | Abcs Property LLC | Warranty Deed | $3.9M · First State Bank |
| Nov 26, 2019 | — | Abcs Property LLC | — | Loan Modification · related | $4.2M · Michigan First Cu |
| May 2, 2017 | — | Abcs Property LLC | — | Deed · related | $2.9M · Michigan First Cu |
| Oct 31, 2014 | — | Abcs Property LLC | Ramco Gershenson Properties LP | Deed | $2.1M · Jpmorgan Chase Bank NA |
| Jan 4, 2010 | — | Ramco-gershenson Properties LP | — | Deed Of Trust · related | $232M · Key Bank NA |
| — | — | Abcs Property LLC | — | Deed Of Trust · related | $2.9M · Michigan First Cu |
Description
This exceptional 11,000 square foot shopping center in Macomb County presents a prime retail leasing opportunity. Currently under new ownership and management, the center has recently undergone renovations, ensuring a modern and attractive space for tenants. Three spaces are available, ranging from a minimum of 2,000 square feet to a maximum contiguous space of 7,000 square feet. The entire 11,000 square feet is currently vacant, offering a unique chance for a single large tenant or multiple smaller businesses. Strategically located at the intersection of 13 Mile Road, Groesbeck Avenue, and Utica Road, the center benefits from high visibility and exceptional traffic counts. Groesbeck Avenue sees over 28,000 vehicles per day, providing significant exposure to potential customers. Multiple points of ingress and egress ensure easy access for both shoppers and employees. A large pylon sign is available for tenant branding. The center's location, one mile west of the Macomb Mall corridor along Gratiot Avenue, places it within a thriving retail area. This makes it ideal for a variety of businesses, including daily-needs retailers, service providers, restaurants, and medical practices. The Oakridge Grocery anchors the center, providing a strong draw for shoppers. Don't miss this chance to secure a prominent retail space in a high-traffic location within a revitalized shopping center.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $5,445,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $6,670,000
- AI Estimate
- $6,670,000
Market price range: $3.53M - $10.8MMarket price range: $3.53M - $10.8M -
Alternative Use
- Use
- Estimation
- COMMERCIAL (GENERAL)
- $6,540,000 Current use
- RESTAURANT
- $9,015,000 Change: +38% Conversion: Difficult
- MEDICAL BUILDING
- $7,810,000 Change: +19% Conversion: Easy
- RETAIL STORES
- $6,635,000 Change: +1% Conversion: Easy
- OFFICE BUILDING
- $6,030,000 Change: -8% Conversion: Easy
- AUTO REPAIR, GARAGE
- $5,470,000 Change: -16% Conversion: Difficult
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Fraser
- County
- Macomb
- State
- Michigan
- Longitude
- -82.9437
- Latitude
- 42.526
- CBSA code
- 19820
- CBSA name
- DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
