5760 Grand River AveDetroit, MI 48208

Property Details for 5760 Grand River Ave

Year built

1940

Lot size

0.30 AC

Property size (Sq ft)

7,700 SF

Zone code

B4

Property type

Grocery and convenience stores

APN

12006117.

APU

12006117

Description

This exceptional Detroit retail property, located at 5760 Grand River Ave, presents a unique investment opportunity. The building, constructed in 1925 and renovated in 1940, boasts 7,700 square feet of space on a 0.3-acre lot. Its zoning is designated B-4, allowing for a variety of commercial uses. The single-story structure features a 21-foot ceiling height and one overhead door, ideal for loading and unloading. Previously used as a supermarket, this property offers significant potential for redevelopment or continued use as a retail space. The asking price is $350,000, translating to $45.45 per square foot. The property's location in Detroit, Michigan (zip code 48208), within Wayne County, provides excellent access to major transportation routes and a thriving community. The ample square footage and convenient features make this a highly attractive option for entrepreneurs and investors seeking a well-situated commercial space with significant upside potential. The paved lot provides ample parking and maneuvering space. This is a rare opportunity to acquire a substantial retail space in a prime Detroit location.

• CAP approach

  CAP return

  Valuation

  6%

  $2,354,187

  6.5%

  $2,173,096

  7%

  $2,017,874

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,815,050

  Geo Method

  $1,815,050

• Alternative Use

  Use

  Valuation

  Residential

  $1,833,087

  Hospitality

  $1,679,098

  Educational

  $1,396,990

  Medical

  $1,445,035

  Retail

  $2,173,096

Location Insight

City

Detroit

County

Wayne

State

Michigan

Latitude

42.3534

Longitude

-83.1

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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