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Katie Wright

kawrealty@gmail.com +1(248) 403-3182

$ 1,695,000

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1528 GRATIOT Avenue Detroit, MI 48207

7,248 SqFt

UPDATED:

Key Details

Property Type Commercial

Sub Type Real Estate Only

Listing Status Active

Purchase Type For Sale

Square Footage 7,248 sqft

Price per Sqft $233

Subdivision Plat Of A Dequindre Farm Sec 26 (Also P717-8 Cr)

MLS Listing ID 20250015579

Originating Board Realcomp II Ltd

Year Built 1907

Annual Tax Amount $16,632

Lot Size 1,742 Sqft

Acres 0.04

Lot Dimensions 48.00 x 36.00

Property Sub-Type Real Estate Only

Property 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.

Location

State MI

County Wayne

Area Det Woodward-Mcclellan/So Mack

Zoning Commercial,Multi-Family,Residential

Direction W of Russell/S of Fisher Fwy

Interior

Hot Water Natural Gas

Heating Forced Air

Exterior

Road Frontage Paved

Building

Foundation Basement

Sewer Public Sewer (Sewer-Sanitary)

Water Public (Municipal)

Structure Type Brick

Schools

School District Detroit

Others

Tax ID W07I000770S

Ownership Short Sale - No,Private Owned

Acceptable Financing Cash, Conventional

Rebuilt Year 2007

Listing Terms Cash, Conventional

Financing Cash,Conventional

Special Listing Condition Full Service

Listed by Katherine Kutscher of Real Estate One-Royal Oak

Katie Wright

Broker Associate | License ID: 387021

+1(248) 403-3182

Katie Wright

1528 GRATIOT Avenue Detroit, MI 48207

Key Details

Location

Interior

Exterior

Building

Schools

Others

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1528 GRATIOT Avenue