Retail Commercial Building for Sale - Northwest Detroit
Retail-Commercial
for Sale
| Catylist Listing ID: |
30836002 |
| Property Subtypes: |
Convenience Store, Mixed Use, Street Retail
|
| Building Size (RSF): |
5,500 SF
|
| Gross Land Area: |
0.12 Acres
|
| Sale Price: |
$368,500 |
| Unit Price: |
$67 PSF |
| In Opportunity Zone? |
Yes |
| Property Use Type: |
Vacant/Owner-User |
| Building Name: |
Beauty Town |
| Usable Size (USF): |
5,500 SF |
| Sale Terms: |
Cash to Seller |
| Cap Rate: |
Undisclosed |
| Last Updated: |
3/24/2023 |
Overview / Comments
Excellent opportunity for investor or owner occupant.
This building offers over 5,000 SF with 500 SF office space upstairs and a basement for storage. Minutes away from downtown Detroit, this building is located in the Northwest, Old Redford area of Detroit, situated one block from the historic Redford Theater.
Recognized as Detroit District 1 area, in the zone section 74, makes this a perfect location for multiple business types on high traffic Grand River Ave. With this building being zoned as B-3 (Shopping District), permitted uses include adult/child care centers, dry cleaning facility, medical/dental clinic, pet grooming shop, art gallery, business or professional office, school, restaurant and several more. Link provided in zoning description.
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Financials
| Finance Data Year |
2022 |
| Real Estate Taxes - Annual($) |
$7,206 (Annual) |
| Tax Value Land |
$81,292 |
| Assessed Value - Total($) |
$113,500 (Annual) |
Additional Details
| Nearest MSA: |
Detroit-Warren-Dearborn |
| County: |
Wayne |
| Submarket/Township: |
Detroit W of Woodward |
| Taxing Authority: |
City of Detroit |
| Tax ID/APN: |
22007829 |
| Zoning: |
B3 - SHOPPING DISTRICT |
| Retail Clientele: |
General |
| Property Located Between: |
Lahser Rd & Evergreen Rd. |
| Property Visibility: |
Excellent |
| Largest Nearby Street: |
Lahser Rd. |
| Feet of Frontage: |
48 |
| Highway Access: |
I-96, I-696, M-10, M-39 |
| Airports: |
DTW, KDET |
| Site Description: |
Brick building with basement and on street parking at the door. |
| Area Description: |
District 1 is an eclectic community with varying interests from community gardening and farming to a theater district and thriving business corridor along Grand River Avenue. Our major neighborhoods include: Brightmoor, Castle Rouge, Old Redford, Riverdale, Berg-Lahser, Grandmont #1, Grandmont Community, Rosedale Park, North Rosedale Park, Minock Park, Grand River-Greenfield, O'Hair Park and Crary-St. Marys. Other organizations committed to improving the District include the Schoolcraft Improvement Association, Grandmont Rosedale Development Corporation, Brightmoor Alliance, Neighbors Building Brightmoor, Detroit Blight Busters, Southfield Jefferies Business Association and the West Seven Mile Business Association. Our residents have great working relationships and partnerships with community leaders and residents throughout the district. |
| Tenancy: |
Single Tenant |
| Total Number of Buildings: |
1 |
| Number of Stories: |
2 |
| Typical SF / Floor: |
5,000 SF |
| Property Condition: |
Fair |
| Year Built: |
1955 |
| Roof Type: |
Flat |
| Construction/Siding: |
Brick |
| Exterior Description: |
Brick |
| Parking Type: |
Surface |
| Parking Description: |
Street parking |
| Heat Type: |
Natural Gas |
| Heat Source: |
Central |
| Zoning Description: |
B3 - Shopping District
The B3 Shopping District provides for a range of convenience and comparison shopping goods stores, which are generally grouped into neighborhood and community shopping centers, depending on the size of the area so mapped. Uses permitted are inclusive enough to allow for the provisions of a broad range of goods and services for the consumer, and to allow for as much freedom and healthy competition in the commercial real estate market and commercial activities as is commensurate with other community values.
Link to full description: https://library.municode.com/mi/detroit/codes/code_of_ordinances?nodeId=COCH50_CH50ZO_ARTIXBUZODI_DIV4B3SHDI
|
| Lot Frontage: |
48 |
| Lot Depth: |
107 |
| Water Service: |
Municipal |
| Sewer Type: |
Municipal |
| Legal Description: |
N GRAND RIVER PTS OF 5 THRU 7 WILLMARTH PL L21 P41 PLATS, WCR 22/397 DESC AS FOLS BEG AT A PTE ON N LINE GRD RIVER AS WD N 60D 16M 07S W65.12FT & N 58D 12M 37S W5.41FT FROM INTSEC W LINE OF GREYDALE TH N 31D 38M 46S E107. 26FT TO PTE ON ALLEY TH N 58D 20M 41S W48.28FT TO A PTE TH S 31D 54M 10S W107.15FT TO A PTE ON N LINE OF GRD RIVER TH ON SD N LINE S 58D 12M 37S E48.76FT TO P O B 22/--- 48.76 IRREG |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
18,181 |
154,189 |
434,284 |
| Median Age: |
33.43 |
37.16 |
37.82 |
| Households: |
6,853 |
60,387 |
169,429 |
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