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23001-23005 Gratiot Ave
Eastpointe, MI 48021
Retail Property For Sale
Investment Highlights
- Mixed-use configuration combining retail frontage and residential units.
- Highly visible location along Gratiot Avenue with daily traffic counts over 42,000 vehicles.
- Convenient proximity to 8 Mile Road, 9 Mile Road, and I-94 for easy connectivity.
- Newer roof and recently renovated apartments enhance long-term maintenance stability.
- Total annual rental income of $100,260 across multiple existing tenants.
- Situated in a populous Detroit-area market with strong household income metrics.
Executive Summary
This investment opportunity at 23001-23005 Gratiot Avenue features a well-located mixed-use property in Eastpointe, Michigan. The building spans approximately 8,553 square feet on two levels, combining retail storefronts with recently updated residential apartments. The property benefits from a newer roof and renovated apartment interiors, reducing near-term capital expenditures for a buyer.
With a total annual rental income of $100,260 from multiple occupied units, this asset provides stable returns and immediate cash flow potential. Its prominent frontage on Gratiot Avenue ensures high visibility and strong traffic counts, exceeding 42,000 vehicles per day. Nearby arterial roads, including 8 Mile and 9 Mile, connect to major thoroughfares and Interstate 94, allowing regional accessibility. The site offers 100-foot street frontage and is located in a densely populated trade area with median household incomes exceeding $59,000 within a one-mile radius.
Offered at $695,000, this property represents a competitive price per square foot for investors seeking a versatile income-producing asset in an established Detroit metropolitan corridor.
With a total annual rental income of $100,260 from multiple occupied units, this asset provides stable returns and immediate cash flow potential. Its prominent frontage on Gratiot Avenue ensures high visibility and strong traffic counts, exceeding 42,000 vehicles per day. Nearby arterial roads, including 8 Mile and 9 Mile, connect to major thoroughfares and Interstate 94, allowing regional accessibility. The site offers 100-foot street frontage and is located in a densely populated trade area with median household incomes exceeding $59,000 within a one-mile radius.
Offered at $695,000, this property represents a competitive price per square foot for investors seeking a versatile income-producing asset in an established Detroit metropolitan corridor.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
8,553 SF
Building Class
C
Year Built
1956
Price
$695,000
Price Per SF
$81.26
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.23
Lot Size
0.16 AC
Opportunity Zone
Yes
Zoning
DT - Mixed Use
Parking
10 Spaces (1.17 Spaces per 1,000 SF Leased)
Frontage
Property Taxes
| Parcel Number | 02-14-30-379-031 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $203,800 |
Property Taxes
Parcel Number
02-14-30-379-031
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$203,800
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