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21548-21560 Grd Rvr Bldg 21548 Grand River Ave 8,959 SF 93% Leased Retail Building Detroit, MI 48219 $770,000 ($85.95/SF) 6.49% Cap Rate
Investment Highlights
- Location has good exposure to heavy foot traffic and 40,000 SEMCOG traffic volume
- Good condition and changing current use will not be difficult
Executive Summary
8,959 SF commercial building with stable occupancy and two tenants in place. Only 830 SF remains vacant, offering immediate value-add potential while benefiting from existing cash flow. Well-positioned on the Grand River corridor for retail, service, or neighborhood commercial use.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$59,400
|
$6.63
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$59,400
|
$6.63
|
| Taxes |
$10,460
|
$1.17
|
| Operating Expenses |
$9,400
|
$1.05
|
| Total Expenses |
$19,860
|
$2.22
|
| Net Operating Income |
$39,540
|
$4.41
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $59,400 |
| Annual Per SF | $6.63 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $59,400 |
| Annual Per SF | $6.63 |
| Taxes | |
|---|---|
| Annual | $10,460 |
| Annual Per SF | $1.17 |
| Operating Expenses | |
|---|---|
| Annual | $9,400 |
| Annual Per SF | $1.05 |
| Total Expenses | |
|---|---|
| Annual | $19,860 |
| Annual Per SF | $2.22 |
| Net Operating Income | |
|---|---|
| Annual | $39,540 |
| Annual Per SF | $4.41 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Storefront
Building Size
8,959 SF
Building Class
C
Year Built
1948
Price
$770,000
Price Per SF
$85.95
Cap Rate
6.49%
NOI
$50,000
Percent Leased
93%
Tenancy
Multiple
Building Height
1 Story
Opportunity Zone
Yes
Zoning
Commercial - B3 Commercial Retail / Commercial Shopping District.
Amenities
- Air Conditioning
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- House of Judah
- Health Care and Social Assistance
- 5,270 SF
- -
- TBD
- -
- Praying Angels Day Care
- Health Care and Social Assistance
- 2,242 SF
- -
- TBD
- -
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| House of Judah | Health Care and Social Assistance | 5,270 SF | - | TBD | - | |
| Praying Angels Day Care | Health Care and Social Assistance | 2,242 SF | - | TBD | - |
Fairly walkable
50/100
Exceptionally drivable
100/100
Some public transit
50/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 22-0078402 | Total Assessment | $205,400 |
| Land Assessment | $0 | Annual Taxes | $10,460 ($1.17/SF) |
| Improvements Assessment | $0 | Tax Year | 2025 |
Property Taxes
Parcel Number
22-0078402
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$205,400
Annual Taxes
$10,460 ($1.17/SF)
Tax Year
2025
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21548-21560 Grd Rvr Bldg | 21548 Grand River Ave
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