15924 Grand River AveDetroit, MI 48227

Property Details for 15924 Grand River Ave

Year built

1946

Lot size

0.13 AC

Property size (Sq ft)

6,640 SF

Zone code

B4

Property type

Retail properties

Property subtype

Retail space

APN

22008253-4

APU

220082534

Description

This exceptional 8,280-square-foot, two-story building presents a unique opportunity for retail and/or office use in a prime Detroit location. Situated on Grand River Avenue, between Southfield Freeway and Greenfield Road, this property boasts excellent visibility and accessibility. The building, which has undergone recent renovations, is currently available for sale or lease. One available space offers 4,140 square feet of adaptable, white-boxed space, perfect for businesses seeking a blank canvas to customize their ideal layout. The property sits on a 0.2-acre lot and offers ample parking, a significant advantage for both employees and customers. The building's traditional office subtype makes it suitable for a variety of businesses, from retail shops to professional offices. Its multi-tenant capacity allows for flexibility in leasing arrangements. Located in Wayne County, Michigan, with a Detroit address of 15924 Grand River Ave, zip code 48227, this property offers a strategic location with high traffic volume and strong potential for growth. The building's modern updates and convenient location make it an attractive investment opportunity. Don't miss this chance to secure a thriving business space in a rapidly developing area of Detroit.

• CAP approach

  CAP return

  Valuation

  6%

  $2,030,104

  6.5%

  $1,873,942

  7%

  $1,740,089

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,565,186

  Geo Method

  $1,565,186

• Alternative Use

  Use

  Valuation

  Residential

  $1,580,740

  Hospitality

  $1,447,950

  Educational

  $1,204,677

  Medical

  $1,246,108

  Retail

  $1,873,942

Location Insight

City

Detroit

County

Wayne

State

Michigan

Latitude

42.3949

Longitude

-83.2031

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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