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    FOR SALE
    Auto shops

    5000 Mount Elliott St, Detroit, MI 48211

    260 SF 0.11 ac lot Built 1931
    Entity Owned 4-yr Hold Free & Clear
    Property ID
    US43-1763636
    Property summary
    AI-generated overview

    This exceptional commercial land offering presents a unique investment opportunity in Detroit, Michigan. Encompassing 0.56 acres, this property is ideally situated at 5000 Mt. Elliott St, within the desirable M-4 zoning district. The asking price is $68,000, translating to a land value of $2.79 per square foot. The acreage includes multiple addresses: 5000, 5024, 5030, and 5046 Mt. Elliott Street, as well as 6331 and 6337 West Warren Avenue, and 6312 Theodore Street. It's important to note that these parcels are not contiguous, and some lots on Mt. Elliott Street are currently owned by the Land Bank. This presents a compelling opportunity for developers or investors seeking to acquire a substantial land holding in a dynamic urban area. The M-4 zoning allows for a variety of commercial uses, providing flexibility for future development plans. Detailed zoning information and potential use restrictions should be independently verified. This property is located in Wayne County, Michigan, with a zip code of 48211. The precise geographic coordinates are latitude 42.3707813 and longitude -83.027378. Serious inquiries are encouraged to explore the potential of this significant land acquisition.

    Property profile
    Verified
    Property type Auto shops
    Use group AUTO REPAIR, GARAGE
    Year built 1931
    Total area 260 SF
    Lot 0.11 ac (4,792 SF)
    Zoning code M4
    APN 15014090.
    UPID US43-1763636
    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
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
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    Comparable Approach Comparable
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    Blend (final) Blend
    by Request
    Owner & transaction history
    Bolk Dempster LLC · 4 yrs held
    Bolk Dempster LLC
    since 2022
    4 recorded transactions
    2022
    $38,000
    2021
    $38,000
    2015
    2014
    Zoning & alternative use
    M4 · Detroit, MI
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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