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$ 550,000
Est. payment | /mo
5,246 SqFt
$ 550,000
Est. payment | /mo
5,246 SqFt
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 5,246 sqft
Price per Sqft $104
MLS Listing ID 20240077939
Year Built 1915
Annual Tax Amount $1,688
Lot Size 0.260 Acres
Acres 0.26
Lot Dimensions 84.00 x 134.00
Source Realcomp
Property Description
Prime Mixed-Use Redevelopment Opportunity in the Heart of MexicantownDiscover an exceptional investment opportunity in one of Detroit's most vibrant and culturally rich neighborhoods—Mexicantown. Located on highly traveled Vernor Highway just minutes from downtown Detroit, this mixed-use property offers tremendous upside for investors, developers, or owner-occupants seeking a value-add asset in a rapidly growing corridor.Property FeaturesBuilding Size: 5,246 square feetLot Size: 84' frontage × 134' depthFlexible Mixed-Use Layout: Ideal opportunity to redevelop into street-level commercial space with two residential apartments above, creating multiple income streams.Additional Parking Lot: The adjacent lot provides ample space for customer and tenant parking, outdoor seating, or future site improvements—an increasingly valuable amenity in this busy commercial district.Additional Out-Building: Included with the sale, offering storage, workshop space, or additional business use.Prime Location: Outstanding visibility on Vernor Highway with excellent traffic counts and surrounded by popular restaurants, retail, and neighborhood attractions.Investment PotentialWhether you're looking to establish a flagship business, develop a mixed-use income property, or reposition an existing building, this property offers outstanding flexibility. The configuration lends itself perfectly to a commercial storefront on the first floor with two upscale apartments on the second level, providing strong long-term rental income while benefiting from Detroit's continued neighborhood revitalization.The additional lot offers a significant competitive advantage by providing dedicated parking for both residential tenants and commercial customers, while also allowing for future expansion or outdoor amenities.Development & Incentive OpportunitiesThis property presents an excellent opportunity to capitalize on Detroit's ongoing redevelopment efforts. Buyers may qualify for various local, state, and federal redevelopment prog
Location
State MI
County Wayne
Zoning Commercial
Direction Vernor Hwy past Clark Park between Clark and Mckinstry
Rooms
Basement Basement
Exterior
View Y/N No
Building
Foundation Block
Water Public
Structure Type Vinyl Siding,Wood Siding
Schools
School District Detroit
Others
Tax ID W14I000343S
Listed by Realty Executives Home Towne
NEARBY SCHOOLS & PROPERTIES
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