29425 W Jefferson Avenue Gibraltar, MI $ 1,900,000
29425 W Jefferson Avenue
$ 1,900,000
Recently Listed Foreclosure
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29425 W Jefferson Avenue

Gibraltar, MI, 48173
$ 1,900,000
Bedrooms-- Baths-- Sq 12,144

Monthly Estimate*

$ 11,997

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Commercial Property for sale in Gibraltar, MI

for $1,900,000. This 12,144 square foot building was built on a lot size of 1.32.

Rare opportunity to acquire a well-established 24-unit multifamily investment in Gibraltar, owned and operated by the same owners for nearly 40 years. Situated on approximately 1.32 acres with 155 feet of frontage, this two-story property offers an attractive mix of 16 one-bedroom and 8 two-bedroom units, providing a diverse tenant base and consistent rental demand. The property features approximately 12,144 square feet of living space, a full basement, boiler heat, individual window A/C units, municipal water and sewer, and ample on-site parking. Long-term ownership has provided stability and a strong track record of rental income, while current rents present an opportunity for a new owner to evaluate and capture additional rental upside over time. Conveniently located near Gibraltar Road, I-75 and major Downriver thoroughfares, with easy access to shopping, dining, employment and surrounding communities. A substantial multifamily asset with established income, a desirable unit mix and meaningful potential for future growth. Buyer to independently verify all information, measurements, zoning, permitted uses and financials.

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Commercial Active

Price

$ 1,900,000

Property Type

Commercial

Taxes

$ 25,113

Style

RealEstateOnly

Lot Size

1.32

Town/City

Gibraltar

County/Region

Wayne

MLS | Web ID

20261060727

Features
General
Sewer PublicSewer
Heating HotWater
Cooling WallWindowUnits
Possession SubjectToTenantRights
Garage Spaces 0.0
Construction Materials Brick
Levels Two
Property Subtype RealEstateOnly
Current Use MultiFamily
Business Type Apartments
County Wayne
Net Operating Income 62288.0
Operating Expense 108703.0
New Construction N
Property Type CommercialSale
HOA N
Attached Garage N
Garage Y/N N
Status Active
Directions West on Gibraltar Rd from I-75
City GibraltarCity_Wayne
Senior Community Y/N N
High School District Gibraltar
Zoning Description Commercial
Number Of Units Total 24
MLS Area Area05183Gibraltar
Lot Size Units Acres
Carport Y/N N
Number of Units Leased 17
Land Lease Y/N N
Tax Annual Amount 25113.0
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 Tenant
Tax Assessed Value 364231
Expected Active Date 2026-08-17
Legal Description 01U1B2 T5S THAT PART OF PRIVATE CLAIMS 54 AND 355 DESCRIBED AS BEGINNING AT A POINT ON THE ELY LINE OF SOUTH RIVER ROAD 120 FT WIDE DISTANT S 22D 15M W 874.62 FT FROM THE INTERSECTION OF SAID ELY LIN
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Exterior
Parking Features ParkingLot
Water Source Public
Foundation Details Basement Block
Spa N
Building Area Total 12144.0
Lot Dimensions 154x410
Lot Size Acres 1.32
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 Y
Heating Y/N Y
Fireplace Y/N N
Above Grade Finished Area 12144.0
Above Grade Finished Area Unit Type SquareFeet
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Internal Only
Street Number 1 29425
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* Excluded Features
List By
Jessica Tremonti

Listing Agent

Century 21 Curran & Oberski

Broker

(313) 478-0819

Phone

Affordability Calculator

$14,090
Per Month
85%
15%
0%
Monthly Principal & Interest
$11,997
Monthly Property Taxes
$2,093
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.49% 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
848369 Elementary School
848015 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
8/17/2026$1,900,000 Listed Price

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29425 W Jefferson Avenue, Gibraltar, MI, 48173 is a Commercial Property for sale at $1,900,000 with 12,144 sqft and a lot size of 1.32. The property's zip code is 48173 which is in Gibraltar, MI