15500 Warren AveDetroit, MI 48224

Property Details for 15500 Warren Ave

Year built

1941

Lot size

0.27 AC

Property size (Sq ft)

9,248 SF

Zone code

B4

Property type

Retail properties

Property subtype

Retail space

APN

21002397.

APU

21002397

Description

This exceptional retail opportunity presents a thriving convenience store with a liquor license located at 15500 E Warren Ave, Detroit, MI 48224, in Wayne County. The 4,000 square foot building, constructed in 1941 and extensively renovated in 2024 (and many times prior), boasts a strong weekly revenue stream of $30,000 to $35,000. The property includes three attached units, a sizable kitchen area, ample storage space, and convenient parking, including a private side lot. The store features 15 coolers and operates from 8:00 AM to 11:00 PM daily. Significant recent upgrades include a 7-year-old roof, and a 3-year-old furnace and AC system. The asking price is $799,000, translating to $199.75 per square foot. This turnkey operation offers a compelling investment opportunity in a high-traffic area of Detroit. The property's established clientele and consistent profitability make it an attractive prospect for experienced business owners seeking a well-maintained and successful enterprise. Further details are available upon request.

• CAP approach

  CAP return

  Valuation

  6%

  $2,445,660

  6.5%

  $2,257,532

  7%

  $2,096,280

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,179,946

  Geo Method

  $2,179,946

• Alternative Use

  Use

  Valuation

  Residential

  $1,904,313

  Hospitality

  $1,744,341

  Educational

  $1,451,271

  Medical

  $1,501,182

  Retail

  $2,257,532

Location Insight

City

Detroit

County

Wayne

State

Michigan

Latitude

42.399

Longitude

-82.9483

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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