Technical
Financial
Distress signals
Property profile

8121 Gratiot Ave Detroit, MI 48213

OFF-MARKET
Banks
Property ID
US43-0028931
2,508 SF 0.42 ac lot Built 1971
Individually Owned 5-yr Hold Absentee Owner Free & Clear
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Property summary

AI-generated overview

This exceptional investment opportunity presents a 2,508-square-foot commercial building located at 8121 Gratiot Avenue in Detroit, Michigan, 48213. The property, built in 1971, is a single-story, Class C building situated on a 0.42-acre lot. Currently operating at 100% occupancy, this former bank branch offers significant potential for various retail or industrial uses. The building features a 12-foot ceiling height, providing ample vertical space. Zoned B-4, the property benefits from ample parking. The asking price is $295,000, translating to $117.62 per square foot. This represents a compelling investment opportunity in a high-traffic area of Detroit. The property's size, location, and existing infrastructure make it an ideal candidate for a variety of commercial ventures. Serious inquiries are encouraged to explore the possibilities of this well-positioned Detroit property. The building's single-tenancy status offers a streamlined ownership experience. Its history as a bank branch suggests a solid foundation and potential for adaptive reuse. The property's location on Gratiot Avenue provides excellent visibility and accessibility.

Property profile

Verified
Property type Banks
Use group FINANCIAL BUILDING
Year built 1971
Total area 2,508 SF
Lot 0.42 ac (18,295 SF)
Zoning code B4
APN 17000696-700
UPID US43-0028931

Cap rate & NOI

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

Location

8121 Gratiot Ave Detroit, MI 48213-2939
Detroit metro Census 519200 DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
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Comparable Approach Comparable
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Blend (final) Blend
$190k

Owner & transaction history

since 2020
2 recorded transactions
2020
Price N/A
2019
$1.4M

Zoning & alternative use

B4 · Detroit, MI
Zoning description

), eff. 5-28-2005) Sec. 50-7-3. - Business Districts. Business districts within the City are as follows: (1) B1 Restricted Business District. (2) B2 Local Business and Residential District. (3) B3 Shopping District. (4)…

General category COMMERCIAL

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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