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Financial
Distress signals
Property profile

491 E Grand Blvd Detroit, MI 48207

FOR SALE
Assisted living facilities
Property ID
US43-4813357
3,990 SF 0.2 ac lot Built 1922
Last sale Nov 2010 · $5,500
Individually Owned Owner of record is an individual. 2-yr Hold Held for 2 years. Absentee Owner Owner mailing address differs from the property address. Free & Clear No active or open recorded mortgage detected.
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Property summary

AI-generated overview

The property is a multi-use building in Detroit with a total interior area of 3,990 square feet situated on a 0.2-acre lot. It is zoned R5 and includes commercial office approval, with potential to be configured as a multi-family building, apartment use, or a single-family residence without rezoning. The site is located near downtown and provides access to nearby dining and entertainment venues, as well as convenient proximity to Detroit Metro Airport and major expressways.

Ownership intelligence

Who controls the opportunity?

Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. Included with a plan.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with a plan.

Debts

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — included with a plan.

Property tax · 2020

What does the county charge?
$4k
Tax billed · 2020
Assessed value · 2024$174k
Effective rate2.04%

Value estimate

· Oct 2026
$250k
$225k – $275k
NOI build-up
Gross scheduled income$84k
Vacancy & credit loss−$10k
Operating expenses−$28k
NOI · 11.89% cap applied$46k

Realmo valuation models over county records.

Recently sold

No data for this section
What actually traded nearby?

No cleaned sale $/SF benchmark exists for this use type in this ZIP, submarket or county yet.

Cap rate analysis

How does the asset earn?
11.89%
$46k estimated NOI · market benchmarks for this use type

Price anchors at 6 / 6.5 / 7% — in the full report.

Zoning insight

What can be built here?
R5
This R5 medium density residential district is designed to provide for a range of residential development from the single family detached...
General categoryRESIDENTIAL
JurisdictionWAYNE

Location intelligence

Which uses thrive at this corner?
Best fit: Realty agency
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Realty agency17.5
Law Firm16.0
HVAC Service12.1

Location

491 E Grand Blvd Detroit, MI 48207
County assessor Recorded deeds · 5 transfers Qualifying comp sales · not on file Zoning catalog

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

4 recorded sales · 15 properties nearby
Recent sales nearby
4 recorded sales in this ZIP, last 8 years
Address Sale price Sold Size
570 Grand, Detroit, MI 48207-3534 $126,562 Aug 2023 9,102 SF
651 Grand, Detroit, MI 48207-3512 $606,000 Jul 2023 6,680 SF
440 Grand, Detroit, MI 48207-3637 $600,000 May 2023 16,544 SF
609 Grand, Detroit, MI 48207-3543 $180,000 Dec 2018 17,184 SF
Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.
Comparable nearby
6 properties of the same type nearby
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