Listed by O'Connor Real Estate
$600,000
1494 Gratiot
Details
APN W07I000771S
Property Type Mixed Use, Multifamily
Sub Type Apartment Building, Duplex/Triplex/Quadruplex
Square Footage 2,930
Units 2
Cap Rate 4.81%
NOI $28,861
Occupancy 100%
Tenancy Multi
Brand/Tenant La Ventana Cafe
Rent Bumps Yes
Price per SqFt $205
Year Built 1918
Stories 2
Acreage 0.030
Zoning MKT
Investment Type Stabilized
Ground Lease No
1494 Gratiot - Eastern Market
Marketing description
Located on a prime, highly visible corner of Gratiot’s commercial corridor, this two-story, 2,930-square-foot mixed-use building is the perfect investment property. The property is fully occupied and anchored by neighborhood staple, La Ventana Cafe. Ownership has invested significantly into the building’s MEP systems as well as the distinctive facade. This opportunity provides investors with a stable, cashflowing asset within walking distance of Eastern Market and Downtown Detroit. This is part of a monumental offering of properties for sale in and around Eastern Market — the largest collection of real estate offered by a single owner for sale in Eastern Market’s history. They can be purchased individually or in multiples. Please see the complete collection of properties for sale. Proof of funds required for all tours.
Investment highlights
- Fully occupied mixed-use building
- Located in a prime commercial corridor
- Significant investment in MEP systems and facade
- Stable cash-flowing asset
- Walking distance to Eastern Market and Downtown Detroit
- Highly visible corner of Gratiot’s commercial corridor
- Two-story, first floor retail, second floor apartment
- Retail occupied by neighborhood staple La Ventanna
Listing Contacts
Listed by O'Connor Real Estate
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$28,861.00
$2,405.08/mo
Valuation Metrics
0
DSCR
4.81%
Cap Rate
4.81%
ROI
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