401 Grand River AveDetroit, MI 48226

Property Details for 401 Grand River Ave

Lot size

0.14 AC

Property size (Sq ft)

5,979 SF

Zone code

B5

Property type

Commercial land

APN

02000335.

APU

2000335

Description

This exceptional investment opportunity presents a 0.14-acre commercial land parcel located at 401 W. Grand River Ave, Detroit, MI 48226, in Wayne County. Currently configured as a surface parking lot accommodating 25 vehicles, this property offers significant potential. The asking price is $1,595,000. The lot boasts a remarkable Walk Score of 97, reflecting its highly desirable urban setting. Its strategic location within the Central Business District places it in close proximity to Woodward Avenue and the I-75 Freeway, ensuring excellent accessibility. Furthermore, its proximity to the Detroit People Mover enhances its appeal. The property's zoning is designated as Commercial, allowing for a variety of potential uses. The densely populated area surrounding the property, with over 78,000 residents within a 3-mile radius, guarantees a consistent demand for parking and other commercial services. The total land area is 6,011 square feet. This property represents a rare opportunity to acquire a high-value asset in a thriving urban environment. The property's location and high Walk Score make it an ideal investment for those seeking strong returns in a dynamic market.

• Alternative Use

  Use

  Valuation

  Residential

  $1,231,173

  Hospitality

  $1,127,748

  Educational

  $938,273

  Medical

  $970,542

  Retail

  $1,459,536

Location Insight

City

Detroit

County

Wayne

State

Michigan

Latitude

42.3336

Longitude

-83.0527

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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