201 8 Mile RdDetroit, MI 48203

For Lease
$24/SF/YR

Recreational dispensary, 4,937 sq ft, high traffic

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional Detroit recreational dispensary presents a unique investment opportunity. Located at 201 Eight Mile Rd, Detroit, MI 48203, this 4,937 square foot, single-tenant property boasts a prime location at the intersection of 8 Mile and Exeter, benefiting from high visibility and significant traffic volume. With a two-way average daily traffic count exceeding 20,000 vehicles, this site offers unparalleled exposure. The building, constructed in 1960 and renovated in 2016, features one story and ample parking (20+ spaces), plus additional overflow parking available for lease nearby. The property includes a 400-amp power supply and is zoned for commercial use. Crucially, this location already possesses Special Land Use (SLU) approval, simplifying the licensing process for prospective operators. Previously operating as a medical dispensary, the property is largely turnkey, requiring only minor modifications to align with approved plans. Its strategic position between Woodward Avenue and I-75, along with multiple curb cuts and proximity to a traffic light and 8-Mile turnaround lane, further enhances its appeal. The property is available for both lease ($10,000/month) and purchase ($1.7 million), with seller financing options available for qualified buyers. The 0.4-acre lot provides ample space for operations and potential expansion.

Highlights

  • SLU-approved recreational dispensary in Detroit.
  • High-traffic location (20,000+ vehicles daily) at 8 Mile & Exeter.
  • 4,937 square foot building, previously operating as a dispensary.
  • Available for sale ($1.7M) or lease ($10,000/month); seller financing available.
  • Requires recreational license transfer or new applicant.

Property Details for 201 8 Mile Rd

Property type
Other retail properties, Retail properties
RSF (Rentable sq. ft)
4,937 SF
Year Built/Renovated
1960/2016
Buildings
1
Stories
1

Unit(s) available at that property

Space
Size
4,937 SF
Rate per SF
$24

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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