1528 GRATIOT Avenue Detroit, MI $ 1,695,000
1528 GRATIOT Avenue
$ 1,695,000
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1528 GRATIOT Avenue

Detroit, MI, 48207
$ 1,695,000
Bedrooms-- Baths-- Sq 7,248

Monthly Estimate*

$ 10,575

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Commercial Property for sale in Detroit, MI

for $1,695,000. This 7,248 square foot building was built in 1907 on a lot size of 0.04.

Don't miss this unique opportunity to own a mixed-use property in Detroit's highly sought-after Eastern Market area. The building features four units: three residential lofts, each with two bedrooms and two bathrooms, accessible by elevator; and a ground-floor retail space with a valuable liquor license. Currently, the lofts are operated as successful Airbnb rentals, offering immediate income potential. However, the next owner can explore diverse opportunities to maximize value. The ground-floor retail space is perfectly suited for a restaurant, bar, café, or gallery. Additionally, rooftop access presents another value enhancing feature. Situated in a prime location, the building is within easy walking distance of Eastern Market's vibrant shops and restaurants. Convenient access to major highways also makes it ideal for commuters. The building is in excellent, well-maintained condition, showcasing desirable architectural elements such as high ceilings, original timber beams, large windows, and exposed brick walls. The retail space boasts a large storefront and a fully equipped commercial kitchen, ready for service. The lower level offers additional creative space, perfect for a speakeasy enhanced by a convenient dumbwaiter. This property represents a compelling investment opportunity, offering revenue potential from both residential and commercial tenants. The option to purchase the liquor license, restaurant fixtures and furniture, and fully furnished lofts is available, making this truly a turnkey offering.

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Commercial Active

Price

$ 1,695,000

Property Type

Commercial

Taxes

$ 16,632

Style

RealEstateOnly

Lot Size

0.04

Year Built

1907

Town/City

Detroit

County/Region

Wayne

MLS | Web ID

20251032927

Features
General
Sewer PublicSewer
Heating ForcedAir
Possession AtClose
Garage Spaces 0.0
Security Features FireSprinklerSystem
Construction Materials Brick
Year Built 1907
Property Subtype RealEstateOnly
Current Use MixedUse
County Wayne
Net Operating Income 0.0
Operating Expense 0.0
New Construction N
Property Type CommercialSale
HOA N
Attached Garage N
Subdivision Name PLAT OF A DEQUINDRE FARM SEC 26 (ALSO P717-8 CR)
Garage Y/N N
Status Active
Directions W of Russell/S of Fisher Fwy
City DetroitCity_Wayne
Senior Community Y/N N
High School District Detroit
Zoning Description Commercial MultiFamily Residential
MLS Area Area05053DetWoodwardMcclellanSoMack
Lot Size Units Acres
Carport Y/N N
Land Lease Y/N N
Tax Annual Amount 16632.0
Home Warranty Y/N N
Lease Renewal Y/N N
Additional Parcels Y/N N
Lease Considered Y/N N
Rent Control Y/N N
Standard Status Active
Occupancy Type MultipleOccupantTypes
Tax Assessed Value 119460
Expected Active Date 2025-09-03
Legal Description S GRATIOT S 50 FT ON E LINE BG S 22.43 FT ON N W LINE OF E 48.24 FT ON GRATIOT AVE AS WD OF 41 BLK 25 PLAT OF ANTOINE DEQUINDRE FARM L10 P716-7-8 CITY RECORDS WCR 7/1 48.24 X 36.41 A
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Exterior
Parking Features OnStreet
Water Source Public
Foundation Details Basement Block
Spa N
Building Area Total 7248.0
Lot Dimensions 48.00 x 36.00
Lot Size Acres 0.04
Waterfront Y/N N
Road Frontage Type Paved
Crops Included Y/N N
Horse Y/N N
Irrigation Water Rights Y/N N
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Interior
Basement (Y/N) Y
Air Conditioning Y/N N
Heating Y/N Y
Fireplace Y/N N
Above Grade Finished Area 7248.0
Above Grade Finished Area Unit Type SquareFeet
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Internal Only
Street Number 1 1528
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* Excluded Features
List By
Katherine Kutscher

Listing Agent

Real Estate One-Royal Oak

Broker

(248) 416-4882

Phone

Affordability Calculator

$11,961
Per Month
88%
12%
0%
Monthly Principal & Interest
$10,575
Monthly Property Taxes
$1,386
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
848539 Elementary School
848135 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
9/3/2025$1,695,000 Listed Price

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1528 GRATIOT Avenue, Detroit, MI, 48207 is a Commercial Property for sale at $1,695,000 with 7,248 sqft and a lot size of 0.04. 1528 GRATIOT Avenue was built in 1907. The property's zip code is 48207 which is in Detroit, MI