Catylist ID:
#30434261
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: | 5/9/2023 |
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 |
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 |
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