14760 Gratiot AveDetroit, MI 48205
- Auto shops
- 846 SF
Property Details for 14760 Gratiot Ave
- Year built
- 1932
- Lot size
- 0.16 AC
- Property size (Sq ft)
- 846 SF
- Zone code
- B4
- Property type
- Auto shops
- APN
- 21028512.
- APU
- 21028512
Description
This exceptional 846 sq ft auto shop, located at 14760 Gratiot Ave, Detroit, MI 48205, presents a unique investment opportunity. Built in 1932, this single-story building sits on a sizable 7,841 sq ft lot, zoned for car lots. The property features two service bays and boasts significant street frontage, ensuring high visibility and accessibility. Currently tenant-occupied, this turnkey operation offers immediate income potential with significant upside. The asking price is $249,000, translating to $294.33 per square foot. The property's location just south of 8 Mile Road in Wayne County provides excellent access to major thoroughfares and a substantial customer base. All measurements are approximate; potential buyers are advised to verify. Please note that the property is currently tenant-occupied, and prospective buyers should refrain from disturbing the tenants. The property's APN is W21I028512S. This is a rare opportunity to acquire a well-established business in a high-traffic area.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $258,655
- 6.5%
- $238,758
- 7%
- $221,704
-
Comparable approach
- Method
- Valuation
- Relative Method
- $199,420
- Geo Method
- $199,420
-
Alternative Use
- Use
- Valuation
- Residential
- $201,402
- Hospitality
- $184,483
- Educational
- $153,487
- Medical
- $158,766
- Retail
- $238,758
Location Insight
- City
- Detroit
- County
- Wayne
- State
- Michigan
- Latitude
- 42.441
- Longitude
- -82.9734
- CBSA code
- 19820
- CBSA name
- DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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