14000 Grand River AveDetroit, MI 48227

Property Details for 14000 Grand River Ave

Year built

1960

Lot size

0.31 AC

Property size (Sq ft)

13,200 SF

Zone code

M4

Property type

Retail space

APN

22008375.

APU

22008375

Description

This multi-tenant retail center in Detroit, Michigan, presents a compelling owner-user opportunity. Located at 14000 Grand River Ave, this 13,469 square foot property sits on a 0.31-acre lot and is zoned M4. Built in 1960 and renovated in 1980, the building boasts a 13'5" ceiling height and 11'4" clear height. Currently occupied by tenants who will vacate upon sale, this property offers excellent visibility and easy access from a corner location. The property benefits from a high daily traffic count of 15,500 vehicles and a daytime population of 154,500 within a 3-mile radius. Its convenient location near I-96 and M-10 ensures easy parking and accessibility. Priced at $650,000 ($48.26/sq ft), this property represents a strong investment opportunity in a high-traffic area. The property's size and location make it ideal for a variety of retail uses.

• CAP approach

  CAP return

  Valuation

  6%

  $4,035,749

  6.5%

  $3,725,306

  7%

  $3,459,213

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,111,514

  Geo Method

  $3,111,514

• Alternative Use

  Use

  Valuation

  Residential

  $3,142,436

  Hospitality

  $2,878,454

  Educational

  $2,394,840

  Medical

  $2,477,202

  Retail

  $3,725,306

Location Insight

City

Detroit

County

Wayne

State

Michigan

Latitude

42.3866

Longitude

-83.1823

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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