66711 Gratiot Ave, Richmond, MI 48062-1909
- Drug stores
- 11,294 SF
- 1.18 lot acres
Current Use by Public Records
- Drug stores
Property Details for 66711 Gratiot Ave
- Year built
- 1996
- Lot size
- 1.18 lot acres
- Zone code
- B-3
- Property type
- Drug stores
- APN
- 07-06-12-201-022
- APU
- 70612201022
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| May 5, 2025 | — | 66711 Gratiot LLC | Warren Office Plaza LLC | Deed | — |
| Aug 9, 2022 | $1,738,000 | Warren Office Plaza LLC | Mk Menlo Property Owner LLC | Deed | — |
| Apr 9, 2019 | — | Mk-menlo Property Owner LLC | — | Grant Deed · related | $139.7M · Wells Fargo Bk |
Description
This exceptional 11,294-square-foot retail property, formerly a Rite Aid, presents a unique investment or leasing opportunity in the thriving Richmond, Michigan market. Situated on Gratiot Avenue, a major north retail corridor serving Southeast Michigan, this single-tenant building boasts a highly desirable location. The property features a convenient drive-thru, prominent pylon signage ensuring excellent visibility, and easy ingress and egress. Ample parking is provided with 42 spaces. The strategic location offers significant advantages, positioned directly across from a Kroger-anchored shopping center, the area's dominant grocery store. Further enhancing its appeal, the property shares a parking lot with a Family Farm and Home store, creating a synergistic retail environment. The 1.18-acre lot provides ample space and potential for future development or expansion. The owner is open to both lease and sale options, making this a versatile opportunity for a variety of retail businesses seeking a high-traffic location in a strong retail corridor within Macomb County's South East Michigan submarket, specifically the Metro Detroit cluster. The property's history as a successful drug store demonstrates its suitability for a range of retail uses, and its prime location ensures high visibility and accessibility for customers. This is an exceptional opportunity to acquire a well-positioned retail property in a growing market. The property is located at 66711 Gratiot Ave, Richmond, MI 48062.
Value Estimations
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $1,700,000
- AI Estimate
- $1,700,000
Market price range: $647k - $1.89MMarket price range: $647k - $1.89M -
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $1,180,000 Current use
- RESTAURANT
- $1,600,000 Change: +36% Conversion: Easy
- MEDICAL BUILDING
- $1,385,000 Change: +18% Conversion: Difficult
- COMMERCIAL (GENERAL)
- $1,160,000 Change: -1% Conversion: Easy
- OFFICE BUILDING
- $1,070,000 Change: -9% Conversion: Easy
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Location Insight
- Map
- Local Demand
- City
- Richmond
- County
- Macomb
- State
- Michigan
- Longitude
- -82.7383
- Latitude
- 42.7933
- CBSA code
- 19820
- CBSA name
- DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
