8
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$199,900
Est. payment /mo
2,581 SqFt
Price Dropped by $40K
15803 Warren Detroit, MI 48228
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Key Details
Property Type Commercial
Sub Type Commercial/Industrial
Listing Status Active
Purchase Type For Sale
Square Footage 2,581 sqft
Price per Sqft $77
Subdivision Mi
MLS Listing ID 60966185
Annual Tax Amount $5,925
Lot Size 2,178 Sqft
Acres 0.05
Lot Dimensions 22.00 x 100.00
Property Sub-Type Commercial/Industrial
Property Description
Welcome to a versatile mixed-use commercial property located at 15801 W Warren Ave, Detroit, positioned along a well-traveled commercial corridor near Southfield Freeway, offering excellent visibility, accessibility, and long-term demand. This over 2,500 SF brick building sits on a corner parcel and is fully leased, providing immediate cash flow for investors seeking stabilized income with upside. The ground floor retail space is occupied by an established appliance store benefiting from consistent foot traffic and strong neighborhood presence. The retail component anchors the property's income stream while leveraging West Warren Avenue's exposure, proximity to surrounding residential density, and easy freeway access. Above the retail space are two residential units, including a 1-bedroom and a 2-bedroom apartment, both leased, creating diversified income across commercial and residential uses. The mixed-use configuration reduces vacancy risk and enhances long-term asset stability. Financially, the property generates $2,600 in monthly rent and $31,200 in annual gross income, with NOI of approximately $25,000 after operating expenses, and 100% occupancy at time of listing. The building was remodeled in 2018 and features central air, forced-air heating, public utilities, and a full basement. Zoning supports a wide range of commercial uses including retail, professional office, medical, service, and mixed-use operations. Located minutes from major thoroughfares, neighborhood retail, and dense residential pockets, this asset offers immediate yield with long-term appreciation potential. Ideal for investors seeking a stabilized mixed-use property in a proven Detroit corridor.
Location
State MI
County Wayne
Area Detroit (82001)
Zoning Commercial
Interior
Heating Forced Air
Exterior
Roof Type Asphalt
Building
Foundation Basement
Water Public Water
Structure Type Brick
Others
Ownership Private
Energy Description Natural Gas
Financing Cash,Conventional
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Listed by EXP Realty Main
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