17172 Warren AveDetroit, MI 48224

Property Details for 17172 Warren Ave

Year built

1948

Lot size

0.05 AC

Property size (Sq ft)

820 SF

Zone code

B4

Property type

Retail space

APN

21002245.

APU

21002245

Description

This vacant 820-square-foot commercial property presents a unique investment opportunity in Detroit, Michigan. Located at 17172 E Warren Ave, within the Cornerstone Village, this single-story building sits on a 2,005-square-foot lot and is zoned B4. Built in 1948, the property is classified as Class C and offers a versatile space suitable for various retail or office uses, including creative office, storefront, or traditional office configurations. Currently vacant, this property allows for immediate occupancy and customization to suit a tenant's specific needs. The asking price is $50,000, and the property is ready for rehabilitation. Its location in a busy retail strip within Cornerstone Village offers significant potential for growth and return on investment. The property requires an application for purchase. This is an excellent opportunity to acquire a well-situated retail space in a thriving Detroit neighborhood. Further details are available upon request.

• CAP approach

  CAP return

  Valuation

  6%

  $216,851

  6.5%

  $200,170

  7%

  $185,873

• Comparable approach

  Method

  Valuation

  Relative Method

  $193,291

  Geo Method

  $193,291

• Alternative Use

  Use

  Valuation

  Residential

  $168,851

  Hospitality

  $154,667

  Educational

  $128,681

  Medical

  $133,107

  Retail

  $200,170

Location Insight

City

Detroit

County

Wayne

State

Michigan

Latitude

42.4063

Longitude

-82.9282

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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