14522 Jefferson AveDetroit, MI 48215

Property Details for 14522 Jefferson Ave

Year built

1924

Lot size

0.13 AC

Property size (Sq ft)

4,000 SF

Zone code

B4

Property type

Retail space

APN

21000338.

APU

21000338

Description

This exceptional 4,000 square foot mixed-use property, located at 14522 E Jefferson Ave in Detroit, Michigan, presents a compelling redevelopment opportunity. Situated on a 0.13-acre lot in the vibrant Jefferson Chalmers neighborhood, this building boasts a prime location on busy Jefferson Avenue, offering significant potential for a variety of uses. Built in 1924, the two-story structure features 15 parking spaces, a significant advantage in this area. The property is zoned B-4, allowing for diverse commercial applications. With a total of 4,000 square feet, the asking price is $350,000, translating to $87.50 per square foot. The property's unique character and strategic location make it an ideal investment for entrepreneurs and developers seeking a high-impact project. The ample square footage and flexible zoning provide a blank canvas for creative vision. The property's history adds to its charm, while its prime location ensures high visibility and accessibility. The 15 parking spaces offer convenient access for customers and employees. This is a rare opportunity to acquire a substantial property in a rapidly developing area of Detroit. The Assessor's Parcel Number (APN) is 21-000338. This property is ready for its next chapter.

• CAP approach

  CAP return

  Valuation

  6%

  $1,057,812

  6.5%

  $976,441

  7%

  $906,696

• Comparable approach

  Method

  Valuation

  Relative Method

  $942,883

  Geo Method

  $942,883

• Alternative Use

  Use

  Valuation

  Residential

  $823,665

  Hospitality

  $754,473

  Educational

  $627,712

  Medical

  $649,300

  Retail

  $976,441

Location Insight

City

Detroit

County

Wayne

State

Michigan

Latitude

42.3731

Longitude

-82.9427

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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