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1486 Gratiot Ave 9,428 SF 100% Leased Retail Building Detroit, MI 48207 $1,674,240 CAD ($177.58 CAD/SF) 11.43% Cap Rate
EXECUTIVE SUMMARY
This two-story, 9,428-square-foot mixed-use building near Eastern Market is fully occupied by Flowers for Dreams (5,395 SF) and Handcar (4,033SF). Featuring a distinctive façade and interior courtyard, the property has benefited from significant ownership investment in MEP systems and exterior improvements. Within walking distance of Eastern Market and Downtown Detroit, it offers investors a stable, cash-flowing asset. This is part of a monumental offering of properties for sale in and around Eastern Market — the largest collection of real estate offered by a single owner for sale in Eastern Market’s history. They can be purchased individually or in multiples. Please see the complete collection of properties for sale.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
9,428 SF
Building Class
C
Year Built
1925
Price
$1,674,240 CAD
Price Per SF
$177.58 CAD
Cap Rate
11.43%
NOI
$191,332 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
13.20
Lot Size
0.02 AC
Opportunity Zone
Yes
Zoning
B4 - Commercial Zoned District
Frontage
27’ on Gratiot Ave
Walk Score®
Very Walkable (89)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 07-000772 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $16,691 CAD |
PROPERTY TAXES
Parcel Number
07-000772
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$16,691 CAD
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1486 Gratiot Ave
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