15875 Greenfield RdDetroit, MI 48227

Property Details for 15875 Greenfield Rd

Year built

1965

Lot size

0.82 AC

Property size (Sq ft)

4,175 SF

Zone code

B2

Property type

Retail space

APN

22050830-2

APU

220508302

Description

This exceptional 1.32-acre parcel, located at 15875-15901 Greenfield Road in Detroit, Michigan, presents a remarkable development opportunity. Situated on a high-traffic corner at the intersection of Greenfield Road and Puratin Avenue, this vacant land boasts exceptional visibility and exposure. The property is zoned B2 Local Business & Residential District, offering flexibility for a diverse range of commercial and residential projects. Its prime location offers easy access to major thoroughfares and is conveniently situated across from Greenfield Market and other established retailers, ensuring high foot traffic and potential customer base. The ample frontage provides significant opportunities for building signage and maximizing visibility. This property is available for sale and offers potential for build-to-suit options. The asking price is $399,000. Detailed zoning information and development possibilities are available upon request. This is an ideal location for businesses seeking high visibility and convenient access, or developers looking to capitalize on the mixed-use zoning potential. The property's size and location make it a highly attractive investment opportunity in a thriving Detroit neighborhood. The Wayne County address is 48227.

• CAP approach

  CAP return

  Valuation

  6%

  $1,276,458

  6.5%

  $1,178,269

  7%

  $1,094,107

• Comparable approach

  Method

  Valuation

  Relative Method

  $984,134

  Geo Method

  $984,134

• Alternative Use

  Use

  Valuation

  Residential

  $993,914

  Hospitality

  $910,420

  Educational

  $757,459

  Medical

  $783,509

  Retail

  $1,178,269

Location Insight

City

Detroit

County

Wayne

State

Michigan

Latitude

42.4079

Longitude

-83.1994

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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