15144 Harper AveDetroit, MI 48224

Property Details for 15144 Harper Ave

Year built

1953

Lot size

0.05 AC

Property size (Sq ft)

2,200 SF

Zone code

B4

Property type

Retail space

APN

21003921.

APU

21003921

Description

This 2,200 sq ft, two-unit building in Detroit, Michigan, presents a compelling investment opportunity. Located on busy Harper Avenue, the property features a vacant ground-floor retail space previously used as a convenience store, complete with an eight-door walk-in cooler and a full basement for ample storage. The versatile space is ideal for various retail uses, including convenience stores, mini-marts, carry-out restaurants, or even food truck parking. Upstairs, a three-bedroom apartment with a large living area provides additional income potential. Both units are individually metered for efficient utility management. Built in 1953, the building sits on a 0.1-acre lot and benefits from its location, connected to the Morningside neighborhood via a bridge over the expressway, ensuring high visibility and accessibility. The property is zoned for commercial and multi-family use, offering flexibility for future development. The asking price is $199,000. This is a rare opportunity to acquire a well-located, mixed-use property with significant upside potential in a thriving Detroit neighborhood. The property's features, including the walk-in cooler, basement storage, and the residential apartment, make it an attractive investment for both seasoned and new investors. The strategic location on Harper Avenue, coupled with the bridge access, ensures high foot traffic and visibility, maximizing the potential for rental income and business success. Don't miss this chance to own a piece of Detroit's vibrant commercial landscape.

• CAP approach

  CAP return

  Valuation

  6%

  $501,857

  6.5%

  $463,253

  7%

  $430,163

• Comparable approach

  Method

  Valuation

  Relative Method

  $214,020

  Geo Method

  $214,020

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $918,977

  Mixed-Use / Specialty

  $455,301

  Hospitality / Lodging

  $325,838

  Office

  $446,035

  Institutional / Educational

  $471,079

  Residential Income

  $551,162

  Multifamily

  $695,958

  Automotive / Energy

  $403,782

  Parking / Income-Based Land

  $145,564

  Restaurant / Food Service

  $223,361

  Healthcare / Senior Housing

  $473,363

Location Insight

City

Detroit

County

Wayne

State

Michigan

Latitude

42.4065

Longitude

-82.9573

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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