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$599,000
Est. payment /mo
5,300 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Commercial/Industrial
Listing Status Active
Purchase Type For Sale
Square Footage 5,300 sqft
Price per Sqft $113
MLS Listing ID 60948565
Annual Tax Amount $4,095
Lot Size 3,920 Sqft
Acres 0.09
Lot Dimensions 126X114
Property Sub-Type Commercial/Industrial
Property Description
Introducing 2305-2321 Junction Street - a rare multi-parcel commercial property in the heart of Detroit's bustling Southwest neighborhood. Situated on three contiguous parcels (each approx. 31 × 114 ft, combined 0.09 acres), this impressive two-story block structure offers over 5,300 sq ft of functional space with versatile B4 General Business Zoning, allowing for a wide variety of uses including retail, medical, service, office, and multi-unit residential conversions. The property currently features five total units, 3 apartments and 2 retail, three of which are leased, potentially producing an annual gross income of $72,000 and a net operating income of $54,000. Each of the three 1-bedroom apartments is approximately 750 sq ft, complemented by flexible commercial suites ideal for storefronts or professional offices. On-site and street parking, alley access. Included are 3 additional parcels adjacent for parking or expansion. Located just steps from Vernor Highway's retail corridor, the property is surrounded by thriving local businesses, restaurants, and cultural attractions such as Taqueria Mi Pueblo, Armando's, and Clark Park. The area benefits from excellent access to I-75, Michigan Avenue, and the Ambassador Bridge, providing steady traffic flow and connectivity to Downtown Detroit and Dearborn. Whether you're an investor seeking immediate cash flow or an owner-operator looking to establish a flagship location, this Junction Street gem offers the flexibility, location, and zoning to support long-term appreciation.
Location
State MI
County Wayne
Area Detroit (82001)
Zoning Mixed Use,Professional Office,Commercial
Interior
Heating Baseboard, Forced Air, Radiant
Exterior
Roof Type Rubber
Building
Foundation Basement
Water Public Water
Others
Ownership Private
Energy Description Natural Gas
Financing Cash,Conventional
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Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource.
Listed by EXP Realty Main
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