Retail/Medical Space for Sale or Lease - Detroit

Retail-Commercial for Sale
Also listed as Office
Catylist Listing ID: 30434261
Property Subtypes: Mixed Use, Street Retail, Other
Building Size (RSF): 18,700 SF
Gross Land Area: 1.32 Acres
Sale Price: $1,000,000
Unit Price: $53.48 PSF
Property Use Type: Investment, Vacant/Owner-User, Business
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 1/12/2023

Overview / Comments

1000’ of frontage on Gratiot Avenue
Value-add opportunity with vacant spaces built out for medical spaces or redevelopment opportunity for office/ retail use
Located directly across from Detroit Police 9th Precinct
Excellent visibility and ample parking

CO-TENANCY:
Gentle Dental (3,850 SF)
Seven-year lease renewal in February 2020
(2) Five-year option periods
2.5% annual increases
Tenant has been in place since 2010

Chiropractor (1,750 SF)
Five-year lease signed November 2022
(1) Five-year option period

Attachments & Media

Additional Details

Nearest MSA: Detroit-Warren-Dearborn
County: Wayne
Submarket/Township: Detroit E of Woodward
Tax ID/APN: 210288136
Zoning: B4 - GENERAL BUSINESS
Retail Clientele: General
Property Visibility: Excellent

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 16,622 177,822 455,367
Median Age: 33.64 31.85 35.5
Households: 5,635 59,646 173,607

Contact

Photograph of Listing Agent

Randall S. Thomas

Insite Commercial CPIX Member
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