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Jim Blehm

Team Owner, Realtor® | The Blehm Group | Keller Williams

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1528 Gratiot Ave , Detroit, MI 48207
$1,695,000
Est. Payment: $3,766.67/mo
0 Bed
0 Bath
7248 Sqft
Status: Active | Days on site: 134
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08114935 - 449129
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House Description

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.

Highlights

Listed by Katherine Kutscher , 248-416-4882 Real Estate One-Royal Oak , 248-548-9100.

Property Type

Commercial Sale

Lot/Acreage
0.04

Year Built

1907

County

Wayne

School District

Detroit

Listing ID

20251032927

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Interior Features

Bedrooms and Bathrooms
  • Bedrooms:0
  • Bathrooms:0
  • Full Bathrooms:
Basement:Basement
Water:Public

Exterior Features

Principal Interest
$3,767
Taxes
$1,386

Home Price

$1,695,000

Loan Details

30 yrs
%

Down Payment

20%
$339,000
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Monthly Price:
$3,766.67

Principal

Taxes

Principal Taxes HOA Total
Monthly $3,766.67 $1,386.00 $0.00 $5,152.67
Yearly $45,200.00 $16,632.00 $0.00 $61,832.00
Total $1,356,000.00 $498,960.00 $0.00 $1,854,960.00

Today's Rates

30 Year

0%

20 Year

0%

15 Year

0%

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Market insight data is pulled from the same city as the listing being viewed (Detroit, MI).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.