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Redevelopment Opportunity 21800 Gratiot Ave 24,196 SF Retail Building Eastpointe, MI 48021 $1,750,000 ($72.33/SF)
Investment Highlights
- Signalized hard corner location at Gratiot Ave & Toepfer Rd
- 239 LF of primary road frontage
- MU3 zoning — flexible commercial/mixed-use
- .968 acres — north of Glander Avenue
- 43,304 VPD traffic count
- Utilities on site
Executive Summary
Prime redevelopment opportunity positioned near the signalized hard corner of Gratiot Avenue and Toepfer Road in Eastpointe, MI. This .968-acre site offers 243 linear feet of frontage along Gratiot Avenue — one of Southeast Michigan's most heavily traveled commercial corridors, carrying over 43,000 vehicles per day and serving as a primary arterial connecting Metro Detroit to Macomb County and points north.
This listing is for the .968-acre parcel located north of Glander Avenue.
Zoned MU3, the site supports a wide range of retail, service, and mixed-use development. Utilities are on site, and the parcel sits within a dense, established retail and service corridor with strong daytime population and immediate access and visibility from a major state trunkline.
Seller may require a post-closing leaseback for a period of time to be negotiated; buyers should factor this into their timeline and underwriting when submitting offers.
This listing is for the .968-acre parcel located north of Glander Avenue.
Zoned MU3, the site supports a wide range of retail, service, and mixed-use development. Utilities are on site, and the parcel sits within a dense, established retail and service corridor with strong daytime population and immediate access and visibility from a major state trunkline.
Seller may require a post-closing leaseback for a period of time to be negotiated; buyers should factor this into their timeline and underwriting when submitting offers.
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Auto Dealership
Building Size
24,196 SF
Building Class
C
Year Built/Renovated
1953/1967
Price
$1,750,000
Price Per SF
$72.33
Tenancy
Single
Building Height
1 Story
Building FAR
0.57
Lot Size
0.97 AC
Zoning
MU-3 - Regional Mixed-Use
Parking
105 Spaces (4.34 Spaces per 1,000 SF Leased)
Frontage
243’ on Gratiot Ave
Fairly walkable
50/100
Moderately drivable
70/100
Limited public transit
30/100
Somewhat bikeable
30/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 02-14-31-179-002 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $1,907,600 |
Property Taxes
Parcel Number
02-14-31-179-002
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$1,907,600
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Redevelopment Opportunity | 21800 Gratiot Ave
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