9606 Shoemaker StDetroit, MI 48213

Property Details for 9606 Shoemaker St

Year built

1959

Lot size

0.19 AC

Property size (Sq ft)

3,588 SF

Zone code

B4

Property type

Retail space

APN

19001401.

APU

19001401

Description

This exceptional Detroit investment opportunity presents a two-story, 3,588 square foot mixed-use building situated on a 0.187-acre lot in the Gratiot Town/Kettering neighborhood (9606 Shoemaker St, Detroit, MI 48213). Built in 1959, the property is zoned B4 and features one building with two units: a ground-floor retail space currently operating as a business and an upper-level apartment. The retail space, offering 2,878 square feet, provides immediate income potential with room for expansion. The upper apartment offers additional income potential through rental. The asking price is $320,000, translating to $97.55 per square foot. The property currently has 50% occupancy. Financial details are available upon request to serious buyers under a confidentiality agreement. This presents a strong investment opportunity in a growing Detroit community, combining immediate income with future growth potential. The property's solid structure and diverse usage make it an attractive option for investors seeking a blend of commercial and residential income streams.

• CAP approach

  CAP return

  Valuation

  6%

  $1,096,990

  6.5%

  $1,012,606

  7%

  $940,277

• Comparable approach

  Method

  Valuation

  Relative Method

  $845,766

  Geo Method

  $845,766

• Alternative Use

  Use

  Valuation

  Residential

  $854,171

  Hospitality

  $782,416

  Educational

  $650,961

  Medical

  $673,349

  Retail

  $1,012,606

Location Insight

City

Detroit

County

Wayne

State

Michigan

Latitude

42.3893

Longitude

-83.004

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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