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Offers Due Aug 31-Owner-User/Value-Add Retail 15924 Grand River Ave 8,280 SF 100% Leased Retail Building Detroit, MI 48227 $485,590 CAD ($58.65 CAD/SF)
Investment Highlights
- INVESTMENT SUMMARY - The property currently generates approximately $4,000 per month in rental income, with additional NOI upside through leasing-up
- LOCATION & MARKET POSITIONING - Situated on Grand River Ave, the property benefits from exceptional visibility, and high daily traffic counts
- OWNER USER OPPORTUNITY - The current ground-floor tenant lease flexibility, creating the potential for an owner-user to occupy the storefront
- VALUE-ADD OPPORTUNITY -The second floor of the property is currently vacant and offers a straightforward value-add component
- PARKING & ACCESSIBILITY - Ample on-site and street-front parking provides convenient access for tenants, customers, and future second-floor occupants
Executive Summary
INVESTMENT SUMMARY - Final Call for Offers Due Monday, August 31: 15924 Grand River presents a flexible opportunity for both investors and owner-users. The property currently generates approximately $4,000 per month in rental income, with additional NOI upside through leasing the remaining vacant spaces. The current ground-floor tenant is on a month-to-month lease, creating the potential for an owner-user to occupy the storefront or reposition it for a higher-value retail use. Whether your strategy is owner occupancy or increasing cash flow through lease-up, this property offers multiple paths to create value.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
8,280 SF
Building Class
C
Year Built
1946
Price
$485,590 CAD
Price Per SF
$58.65 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.90
Lot Size
0.10 AC
Zoning
B-4 - Retail/Office
Frontage
Amenities
- Air Conditioning
Fairly walkable
50/100
Moderately drivable
70/100
Limited public transit
30/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 22-008257 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $62,387 CAD |
Property Taxes
Parcel Number
22-008257
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$62,387 CAD
Contacts
-
Deno Bistolarides -
Eric Reed -
Kishon Harbert -
Encore Real Estate Investment Services
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Offers Due Aug 31-Owner-User/Value-Add Retail | 15924 Grand River Ave
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