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$550,000
Est. payment /mo
5,246 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type RealEstateOnly
Listing Status Active
Purchase Type For Sale
Square Footage 5,246 sqft
Price per Sqft $104
Subdivision M W Fields Sub Of Lots 25 Thru 33 (Plats)
MLS Listing ID 20240077939
Year Built 1915
Lot Size 0.260 Acres
Acres 0.26
Property Sub-Type RealEstateOnly
Property Description
Prime Mixed-Use Redevelopment Opportunity in the Heart of Mexicantown
Discover an exceptional investment opportunity in one of Detroit's most vibrant and culturally rich neighborhoods—Mexicantown. Located on highly traveled Vernor Highway just minutes from downtown Detroit, this mixed-use property offers tremendous upside for investors, developers, or owner-occupants seeking a value-add asset in a rapidly growing corridor.
Property Features
Building Size: 5,246 square feet
Lot Size: 84' frontage × 134' depth
Flexible Mixed-Use Layout: Ideal opportunity to redevelop into street-level commercial space with two residential apartments above, creating multiple income streams.
Additional Parking Lot: The adjacent lot provides ample space for customer and tenant parking, outdoor seating, or future site improvements—an increasingly valuable amenity in this busy commercial district.
Additional Out-Building: Included with the sale, offering storage, workshop space, or additional business use.
Prime Location: Outstanding visibility on Vernor Highway with excellent traffic counts and surrounded by popular restaurants, retail, and neighborhood attractions.
Investment Potential
Whether you're looking to establish a flagship business, develop a mixed-use income property, or reposition an existing building, this property offers outstanding flexibility. The configuration lends itself perfectly to a commercial storefront on the first floor with two upscale apartments on the second level, providing strong long-term rental income while benefiting from Detroit's continued neighborhood revitalization.
The additional lot offers a significant competitive advantage by providing dedicated parking for both residential tenants and commercial customers, while also allowing for future expansion or outdoor amenities.
Development & Incentive Opportunities
This property presents an excellent opportunity to capitalize on Detroit's ongoing redevelopment efforts. Buyers may qualify for various local, state, and federal redevelopment prog
Discover an exceptional investment opportunity in one of Detroit's most vibrant and culturally rich neighborhoods—Mexicantown. Located on highly traveled Vernor Highway just minutes from downtown Detroit, this mixed-use property offers tremendous upside for investors, developers, or owner-occupants seeking a value-add asset in a rapidly growing corridor.
Property Features
Building Size: 5,246 square feet
Lot Size: 84' frontage × 134' depth
Flexible Mixed-Use Layout: Ideal opportunity to redevelop into street-level commercial space with two residential apartments above, creating multiple income streams.
Additional Parking Lot: The adjacent lot provides ample space for customer and tenant parking, outdoor seating, or future site improvements—an increasingly valuable amenity in this busy commercial district.
Additional Out-Building: Included with the sale, offering storage, workshop space, or additional business use.
Prime Location: Outstanding visibility on Vernor Highway with excellent traffic counts and surrounded by popular restaurants, retail, and neighborhood attractions.
Investment Potential
Whether you're looking to establish a flagship business, develop a mixed-use income property, or reposition an existing building, this property offers outstanding flexibility. The configuration lends itself perfectly to a commercial storefront on the first floor with two upscale apartments on the second level, providing strong long-term rental income while benefiting from Detroit's continued neighborhood revitalization.
The additional lot offers a significant competitive advantage by providing dedicated parking for both residential tenants and commercial customers, while also allowing for future expansion or outdoor amenities.
Development & Incentive Opportunities
This property presents an excellent opportunity to capitalize on Detroit's ongoing redevelopment efforts. Buyers may qualify for various local, state, and federal redevelopment prog
Location
State MI
County Wayne
Area Area05101Detsouthofgrandriver
Interior
Heating Natural Gas
Fireplace No
Exterior
Garage Spaces 6.0
View Y/N No
Garage false
Building
Foundation Basement, Block
Sewer Public Sewer
Water Public
New Construction No
Schools
School District Detroit
Others
Senior Community false
Acceptable Financing Cash, Conventional, Trade1031Exchange
Listing Terms Cash, Conventional, Trade1031Exchange
Special Listing Condition ShortSaleNo, Standard
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Listed by Frank Locricchio of Realty Executives Home Towne
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