12021 Harper AveDetroit, MI 48213

  • Grocery and convenience stores
  • 15,861 SF

Property Details for 12021 Harper Ave

Year built
1955
Lot size
1.25 AC
Property size (Sq ft)
15,861 SF
Zone code
B4
Property type
Grocery and convenience stores
APN
21004183.
APU
21004183

Description

This exceptional 15,860-square-foot retail space, located at 12021 Harper Avenue in Detroit, Michigan, presents a significant opportunity for a supermarket operator. The property sits on a 1.25-acre lot and is zoned B-4, allowing for a variety of commercial uses. Currently, the entire building is vacant, offering a blank canvas for a new tenant to customize the space to their exact specifications. The single-tenant occupancy ensures complete control and flexibility for the future business. The property's prime location in Wayne County, with its zip code 48213, provides excellent access to a large customer base. The building's substantial size offers ample room for a full-service supermarket, including extensive shelving, storage areas, and potentially even an on-site bakery or deli. This is a rare opportunity to secure a large, well-located retail space in a thriving Detroit neighborhood. The property's size and zoning make it ideal for a variety of retail concepts, but its suitability for a supermarket is particularly noteworthy given the current vacancy and the ample space available. Interested parties should act quickly to secure this exceptional opportunity. The property is available for lease.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $4,849,319
    6.5%
    $4,476,294
    7%
    $4,156,559
  • Comparable approach

    Method
    Valuation
    Relative Method
    $3,738,768
    Geo Method
    $3,738,768
  • Alternative Use

    Use
    Valuation
    Residential
    $3,775,922
    Hospitality
    $3,458,724
    Educational
    $2,877,618
    Medical
    $2,976,584
    Retail
    $4,476,294

Location Insight

City
Detroit
County
Wayne
State
Michigan
Latitude
42.3994
Longitude
-82.9839
CBSA code
19820
CBSA name
DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2020
$24,592
-
-
$153,200
-
-
-
$306,400

FAQs

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