7401 GRAND RIVER AVE Detroit, MI $ 700,000
7401 GRAND RIVER AVE
$ 700,000
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7401 GRAND RIVER AVE

Detroit, MI, 48204
$ 700,000
Bedrooms-- Baths0.0 Sq 52,500

Monthly Estimate*

$ 3,338

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Commercial Property for sale in Detroit, MI

for $700,000. This 52,500 square foot building was built on a lot size of 0.97 Acre(s).

A GREAT LOCATION AND OPPORTUNITY!! 3 STORY COMMERCIAL BUILDING WITH 37 APARTMENTS ON THE UPPER FLOORS AND 13 RETAIL STORE FRONTS ON THE MAIN FLOOR. 338 FEET OF FRONTAGE WHICH SITS ON OVER AN ACRE OF LAND. A WHOLE CITY BLOCK. THIS IS AN OPPORTUNITY TO CREATE PASSIVE INCOME AS WELL AS A DESTINATION POINT WITHIN AN AREA OF CURRENT RESURGENCE. A GOOD SOLID ROI. JUST A WALK OR BIKE RIDE AWAY FROM MOTOR CITY CASINO, THE NEW CENTER AREA WHICH BOASTS OF THE MOTOWN MUSEUM, HENRY FORD HOSPITAL, THE FISHER THEATER, NEW CENTER PARK AND THE QLINE TRAIN RAIL THAT TAKES YOU ALL THE WAY INTO MIDTOWN AND DOWNTOWN. ALL OF WHICH ARE JUST 5 -8 MINUTES FROM THE FRONT DOOR OF THIS PROPERTY. THE PROPERTY IS MOSTLY VACANT AND A FULL REHAB NEEDED. IMAGINE THE 13 RETAIL STOREFRONTS FILLED TO CAPACITY WITH A COFFEE SHOP, CAFE, RESTAURANTS AND APPAREL STORES. NOT TO MENTION 39 TENANT OCCUPIED RESIDENTIAL APARTMENTS ABOVE IN AN EXCELLENT LOCATION. WHAT ARE YOU WAITING FOR. LET'S MAKE IT HAPPEN. Current Use: VACANT, Lot Dimensions: 338.00X151.00

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Commercial Active

Price

$ 700,000

Property Type

Commercial

Taxes

$ 4,163

Lot Size

0.97 Acre(s)

Town/City

Detroit

County/Region

Wayne

MLS | Web ID

2200019874

Features
Interior
Heating Source Natural Gas
Heating System Forced Air Steam
Water Source Municipal
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Exterior
Construction Brick
Foundation Basement Block
Land Improvements Sidewalks
Road Frontage Paved
Zoning Commercial Residential
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Miscellaneous
Acceptable Finance Cash Conventional
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* Excluded Features
List By
391773 - Front Page Properties

Broker

Affordability Calculator

$3,685
Per Month
91%
9%
0%
Monthly Principal & Interest
$3,338
Monthly Property Taxes
$347
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 3.99% 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
Detroit School District
Pricing History
DatePricePrice ChangeDescription
4/30/2020$700,000 -41.67% Price Down
3/10/2020$1,200,000 Listed Price

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7401 GRAND RIVER AVE , Detroit, MI, 48204 is a Commercial Property for sale at $700,000 with 52,500 sqft and a lot size of 0.97 Acre(s). 7401 GRAND RIVER AVE has 0.0 baths. The property's zip code is 48204 which is in Detroit, MI