15725 Grand River AveDetroit, MI 48227

Property Details for 15725 Grand River Ave

Year built

1949

Lot size

0.32 AC

Property size (Sq ft)

9,828 SF

Zone code

B4

Property type

Retail properties

Property subtype

Retail space

APN

22007092-5

APU

220070925

Description

This exceptional 7,505-square-foot storefront, located at 15725 Grand River Avenue in Detroit, Michigan, presents a compelling investment opportunity. Situated between Greenfield and Southfield Freeways, this property boasts a prime location with high visibility and accessibility. The building has undergone significant recent renovations, including a complete overhaul of the HVAC system, furnace, electrical wiring, plumbing, and hot water heater. Modern upgrades also include three-phase power and two ADA-compliant restrooms. The open floor plan is highly adaptable, suitable for a variety of commercial uses. The property could be easily divided into two approximately 3,500-square-foot units, each with 17 allocated parking spaces (excluding street parking). Adding to its versatility, there's an additional, unfinished basement space of approximately 3,500 square feet, not included in the listed square footage. The asking price is $599,000, translating to $71.12 per square foot. The 0.32-acre lot provides ample space. A newly signed lease with an event space tenant further enhances the investment potential. This property offers a rare blend of modern amenities, flexible space, and a highly desirable location. Detailed information and specifications are available upon request.

• CAP approach

  CAP return

  Valuation

  6%

  $3,004,798

  6.5%

  $2,773,660

  7%

  $2,575,542

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,316,664

  Geo Method

  $2,316,664

• Alternative Use

  Use

  Valuation

  Residential

  $2,339,686

  Hospitality

  $2,143,140

  Educational

  $1,783,067

  Medical

  $1,844,390

  Retail

  $2,773,660

Location Insight

City

Detroit

County

Wayne

State

Michigan

Latitude

42.3934

Longitude

-83.201

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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