12709 Gratiot AveDetroit, MI 48205

Property Details for 12709 Gratiot Ave

Year built

1949

Lot size

0.11 AC

Property size (Sq ft)

4,229 SF

Zone code

B4

Property type

Auto shops

APN

21028962-3

APU

210289623

Description

This exceptional 5,000-square-foot industrial building, located at 12709 Gratiot Ave in Detroit, Michigan, 48205, presents a unique leasing opportunity. Classified as a Class D property, this single-tenant building offers a blend of retail and industrial space, perfectly suited for manufacturing or warehousing operations. The structure boasts a prime location on a major Detroit thoroughfare, ensuring high visibility and significant foot and vehicle traffic. Constructed of brick, the building is in excellent condition and features a sizable basement, adding valuable storage or operational space. The total square footage encompasses 5,000 square feet, providing ample room for various business needs. While the building is currently available for lease, it's also an attractive option for purchase, offering flexibility to potential investors or owner-operators. This property represents a compelling investment in a dynamic Detroit location, providing immediate access to key transportation routes and a thriving commercial environment. The building's strong structural integrity and desirable location make it an ideal choice for businesses seeking a functional and visible space in the heart of Detroit. Serious inquiries are encouraged to explore this exceptional opportunity further.

• CAP approach

  CAP return

  Valuation

  6%

  $1,292,968

  6.5%

  $1,193,509

  7%

  $1,108,258

• Comparable approach

  Method

  Valuation

  Relative Method

  $996,863

  Geo Method

  $996,863

• Alternative Use

  Use

  Valuation

  Residential

  $1,006,770

  Hospitality

  $922,196

  Educational

  $767,256

  Medical

  $793,643

  Retail

  $1,193,509

Location Insight

City

Detroit

County

Wayne

State

Michigan

Latitude

42.4196

Longitude

-82.9884

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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