16209 Warren AveDetroit, MI 48224

Property Details for 16209 Warren Ave

Year built

1951

Lot size

0.06 AC

Property size (Sq ft)

3,940 SF

Zone code

B4

Property type

Turn key restaurants

APN

21002871.

APU

21002871

Description

This 4,486 sq ft mixed-use property in Detroit, MI, presents a unique investment opportunity. Located on East Warren Avenue, this building boasts a ground-floor restaurant space and a four-bedroom apartment on the second floor. Built in 1951, the two-story structure sits on a prime location within a revitalized area, benefiting from an $8.8 million streetscape improvement project. The property is zoned B4 (General Business District) and is situated in an Opportunity Zone. Its proximity to the "Ribbon," a large mixed-use development, and a newly announced public market further enhances its potential. The area is experiencing significant growth, with new developments aiming to attract businesses and improve infrastructure. This property offers a blend of commercial and residential income potential in a rapidly developing neighborhood. The building consists of one unit, and the property is classified as Class C. The address is 16209 E Warren Ave, Detroit, MI 48224. This is an exceptional chance to capitalize on the ongoing revitalization of the East Warren corridor.

• CAP approach

  CAP return

  Valuation

  6%

  $1,041,944

  6.5%

  $961,795

  7%

  $893,095

• Comparable approach

  Method

  Valuation

  Relative Method

  $928,740

  Geo Method

  $928,740

• Alternative Use

  Use

  Valuation

  Residential

  $811,310

  Hospitality

  $743,156

  Educational

  $618,297

  Medical

  $639,561

  Retail

  $961,795

Location Insight

City

Detroit

County

Wayne

State

Michigan

Latitude

42.4024

Longitude

-82.9408

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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