Retail Storefront on Active Corridor

Retail-Commercial for Sale
Catylist Listing ID: 30827013
Property Subtypes: Convenience Store, Restaurant, Street Retail, Tavern/Bar/Nightclub, Other
Building Size (RSF): 3,800 SF
Gross Land Area: 4,000 SF
Sale Price: $47,500
Unit Price: $12.50 PSF
Property Use Type: Vacant/Owner-User
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 1/20/2023

Overview / Comments

- Retail Redevelopment Opportunity

- Property located on active commercial corridor

- Close Proximity to nearby retail

- Close proximity to Detroit City Airport

- Property is sold "as is, where is"

* Please note that the Detroit Land Bank Authority (DLBA) is entitled to a
tax capture for the 5 tax years subsequent to transferring ownership of the
property. The tax capture may be incompatible with tax abatements and lot
combinations that are otherwise available to the selected purchaser. DLBA
will review requests to waive its tax capture rights and may require a
payment in lieu of taxes to approve such requests. The payment will be
determined upon reviewing the development proforma and effect of any tax
abatements on the purchase and development financing.

**contact listing broker to receive google link to submit offer

- Contact Listing Broker Jason Gage at 313-872-1300 ext. 133 for more info

Additional Details

Nearest MSA: Detroit-Warren-Dearborn
County: Wayne
Submarket/Township: Detroit E of Woodward
Taxing Authority: City Of Detroit
Tax ID/APN: 21029019
Zoning: COMMERCIAL - B2
Retail Clientele: General, Business, Other
Property Visibility: Good
Largest Nearby Street: E. McNichols
Feet of Frontage: 40
Property Condition: Fair
Roof Type: Flat
Zoning Description: Commercial
Legal Description: N GRATIOT 280&279 MICHAEL GREINER EST SUB L41 P67 PLATS, W C R 21/611 40 X 100

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 25,199 195,767 471,154
Median Age: 28.78 32.08 35.85
Households: 8,048 67,669 175,869

Contact

Photograph of Listing Agent

Jason Gage

Summit Commercial LLC
Not a member of CPIX
Photograph of Listing Agent

Benjamin Smith

Summit Commercial LLC
CPIX Member
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