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Property profile & analytics
FOR SALE
Commercial real estate

8600 Gratiot Ave Detroit, MI 48213

1,243 SF 0.11 ac lot Built 1941
Entity Owned 17-yr Hold Absentee Owner Free & Clear
Property ID
US43-3597892
Property summary
AI-generated overview

This exceptional mixed-use property, located at 8600 Gratiot Ave in Detroit, Michigan, presents a unique investment opportunity. The 1,250 square foot building sits on a 4,700 square foot lot and is currently operating as a licensed car dealership, offering significant potential for continued success in this established location. The property features two dock-high doors, a 10-foot ceiling height, and is zoned for commercial use. The asking price is $2,999,999, translating to $2,400 per square foot. The building's versatility extends beyond its current use; it's also well-suited for a hand car wash or detailing business. The property is available for an owner/user or investor seeking a lease/tenant arrangement. The occupancy date is August 30, 2024. This single-story building in Wayne County, Michigan (zip code 48213) offers a strong return on investment in a high-traffic area. The property's existing license adds significant value and streamlines the transition for a new owner. This is a rare opportunity to acquire a turnkey business with substantial growth potential in a thriving Detroit market. The property's location on Gratiot Avenue ensures high visibility and accessibility for customers. The sale includes the building and the existing business license.

Property profile
Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Year built 1941
Total area 1,243 SF
Lot 0.11 ac (4,792 SF)
Zoning code B4
APN 17000627.
UPID US43-3597892
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
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Owner & transaction history
HOMEOWNERS INVESTMENT COMPANY
HOMEOWNERS INVESTMENT COMPANY
Zoning & alternative use
B4 · Detroit, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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More about this property
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