Listed by Black Diamond Realty
$650,000
14800 E Vernor Hwy
Details
APN 21-062064
Property Type Multifamily
Sub Type Apartment Building
Square Footage 6,000
Units 9
Cap Rate 6.00%
Occupancy 55%
Tenancy Multi
Rent Bumps No
Pro-Forma Cap Rate 6.37%
Pro-Forma NOI $41,417
Price per SqFt $108
Class B
Year Built 1926
Year Renovated 2023
Buildings 1
Stories 2
Acreage 0.070
Zoning R2
Parking Spaces 1.50 per unit
Investment Type Stabilized
Multifamily | 9 Units | $72,222/unit
Marketing description
Minutes from Grosse Pointe Park on the Vernor corridor—Detroit acquisition basis with rent stability from the adjacent affluent Pointes
Hard-corner site at Vernor Hwy & Ashland St with high traffic counts, strong visibility, and signage value rarely found on interior lots.
Located in FEMA Flood Zone X, outside the high-risk floodplain—keeping insurance costs lower and lender requirements simpler.
Investment highlights
- Minutes from Grosse Pointe Park on the Vernor corridor—Detroit acquisition basis with rent stability from the adjacent affluent Pointes
- Hard-corner site at Vernor Hwy & Ashland St with high traffic counts, strong visibility, and signage value rarely found on interior lots.
- Located in FEMA Flood Zone X, outside the high-risk floodplain—keeping insurance costs lower and lender requirements simpler.
Listing Contacts
Listed by Black Diamond Realty
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