201 8 Mile RdDetroit, MI 48203

For Sale
$1,700,000

SLU-Approved, High-Traffic Retail Space

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional 4,937 square foot retail property in Detroit, Michigan, presents a unique investment opportunity. Located at 201 Eight Mile Rd, this single-story, 1982-built building (renovated in 2016) sits on a 0.4-acre lot and boasts a fee simple absolute ownership. The property features two units and is zoned for commercial use. Previously operating as a medical dispensary, it's nearly turnkey, requiring only minor modifications to align with approved plans. Crucially, it already possesses Special Land Use (SLU) approval, making it ideal for a recreational dispensary license transfer or a new application. The location benefits from high visibility and accessibility, situated between Woodward Avenue and I-75, with multiple curb cuts, a traffic light, and an 8-Mile turnaround lane. A significant advantage is the high traffic count exceeding 20,000 vehicles daily. Additional overflow parking is readily available for lease from a neighboring business. The property is offered for sale at $1,700,000 or lease at $10,000 per month. Seller financing is available for qualified buyers.

Highlights

  • Approved Detroit recreational dispensary.
  • High-traffic location with 20,000+ vehicles daily.
  • 4,937 square foot building, previously a functioning dispensary.
  • Available for sale at $1.7 million or lease at $10,000 per month.
  • Requires either a license transfer or a new license application.

Property Details for 201 8 Mile Rd

Property type
Other retail properties, Retail properties
Square Feet
4,937 SF
Year Built/Renovated
1982/2016
Buildings
1
Stories
1
Lot Size (sq. ft)
17,424 SF
Units
2

Location Insight

City
Detroit
County
Wayne
State
Michigan
Latitude
42.4465991
Longitude
-83.1054858
201 8 Mile Rd, Detroit, Michigan

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201 8 Mile Rd
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