8538 Michigan

Retail-Commercial for Sale
Also listed as Multi-Family
Catylist Listing ID: 30292149
Property Subtypes: Free-Standing Building, Mixed Use
Building Size (RSF): 3,506 SF
Gross Building Area: See Agent
Gross Land Area: 0.04 Acres
Sale Price: $220,000
Unit Price: $62.75 PSF
Property Use Type: Investment, Vacant/Owner-User
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 7/28/2020

Overview / Comments

Unique investment opportunity on Michigan Ave.
Property features carryout restaurant space on main floor, 1 and 2 bedroom apartment on the second floor. Property is currently 100% leased.
Many recent updates.

Additional Details

Nearest MSA: Detroit-Warren-Dearborn
County: Wayne
Submarket/Township: Detroit E of Woodward
Tax ID/APN: 20004676
Zoning: B-4
Property Visibility: Excellent
Feet of Frontage: 22
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 2
Year Built: 1924
Parking Type: Surface
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Package Unit
Lot Frontage: 22
Lot Depth: 84
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 22,633 177,138 424,410
Median Age: 26 30.86 33.56
Households: 6,315 58,389 156,633
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