This investment opportunity at 23001-23005 Gratiot Avenue features a well-located mixed-use property in Eastpointe, Michigan. The building spans approximately 8,553 square feet on two levels, combining retail storefronts with recently updated residential apartments. The property benefits from a newer roof and renovated apartment interiors, reducing near-term capital expenditures for a buyer.
With a total annual rental income of $100,260 from multiple occupied units, this asset provides stable returns and immediate cash flow potential. Its prominent frontage on Gratiot Avenue ensures high visibility and strong traffic counts, exceeding 42,000 vehicles per day. Nearby arterial roads, including 8 Mile and 9 Mile, connect to major thoroughfares and Interstate 94, allowing regional accessibility. The site offers 100-foot street frontage and is located in a densely populated trade area with median household incomes exceeding $59,000 within a one-mile radius.
Offered at $695,000, this property represents a competitive price per square foot for investors seeking a versatile income-producing asset in an established Detroit metropolitan corridor.