Property summary
The property at 503 W Grand Blvd in Detroit, Michigan is a vacant multi-level commercial building with approximately 7,500+ square feet of interior space and a building size of 4,389 square feet on a 0.15-acre lot. The layout includes large open rooms, private offices, and storage areas, with building systems previously in place for medical use, including plumbing, electrical, and HVAC infrastructure. It is located on a busy street with public-transportation access and visibility, and is positioned near major hospitals, universities, and downtown Detroit. The property is zoned for commercial use and can support a range of uses, including medical practices, creative studio space, or general office use, subject to applicable permitting and code requirements.
Property profile
VerifiedCap rate & NOI
Location
Value estimations
Owner & transaction history
Zoning & alternative use
dential districts within the City are as follows: (1) R1 Single-Family Residential District. (2) R2 Two-Family Residential District. (3) R3 Low Density Residential District. (4) R4 Thoroughfare Residential District. (5)…
Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Value estimation
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Cap rate
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Price sensitivity
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Property tax & assessments
Tax year 2020Property description
Physical attributes from public recordsZoning & alternative use
R5 · Detroit, MIdential districts within the City are as follows: (1) R1 Single-Family Residential District. (2) R2 Two-Family Residential District. (3) R3 Low Density Residential District. (4) R4 Thoroughfare Residential District. (5)…
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Official district profile
dential districts within the City are as follows: (1) R1 Single-Family Residential District. (2) R2 Two-Family Residential District. (3) R3 Low Density Residential District. (4) R4 Thoroughfare Residential District. (5)…
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for R5 in Detroit, MI.
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