Property profile

6735 Vernor Hwy Detroit, MI 48209

OFF-MARKET
Auto shops
Property ID
US43-1082282
11,312 SF 0.31 ac lot Built 1943
Individually Owned 1-yr Hold Absentee Owner Free & Clear
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Property summary

AI-generated overview

This exceptional investment opportunity encompasses two buildings totaling 15,895 square feet situated on nearly 0.81 acres of land in Southwest Detroit. The main building, located at 6735 Vernor Hwy, boasts 13,539 square feet and underwent a complete renovation in 2022. Previously a cab company headquarters, it features 4-6 repair bays, multiple lifts, an air compressor, and is move-in ready. Its original use as a bowling alley lends itself to diverse possibilities, including a bar, restaurant, banquet hall, or grocery store. The second building, at 2201 Waterman, offers 2,356 square feet and presents a unique opportunity. This former trucking depot can be repurposed as a coffee house, restaurant, or restored to its original use. Both properties benefit from over 100 parking spaces, a rare find in this area. Built in the 1920s-1940s, these buildings are ideally positioned to capitalize on Southwest Detroit's remarkable resurgence. Detroit is experiencing unprecedented growth, with billions of dollars invested in new retail, services, and corporate relocation projects. This surge in corporate activity is driving demand for housing, creating a vibrant live-work-play environment that appeals to a diverse demographic. This property's prime location and versatile spaces offer significant potential for strong returns in a rapidly developing market.

Property profile

Verified
Property type Auto shops
Use group AUTO REPAIR, GARAGE
Year built 1943
Total area 11,312 SF
Lot 0.31 ac (13,504 SF)
Zoning code M4
APN 18001327-9
UPID US43-1082282

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

6735 Vernor Hwy Detroit, MI 48209-1551
Detroit metro Census 524001 DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$850k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$850k

Owner & transaction history

since 2024
Last sale
$850,000
1 recorded transaction
2024
$850,000

Zoning & alternative use

M4 · Detroit, MI
Zoning description

ff. 5-28-2005) Sec. 50-7-4. - Industrial Districts. Industrial districts within the City are as follows: (1) M1 Limited Industrial District. (2) M2 Restricted Industrial District. (3) M3 General Industrial District. (4)…

General category INDUSTRIAL
Top alternative use upside
Commercial (general) $1.0M +50.6%
Restaurant $1.0M +50.5%
Neighborhood: shopping center $855,000 +25.0%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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