For Sale
5318 Alter Road, Detroit, MI 48224
$160,000
MLS # 20251001440 (Realcomp)
2,432 sqftBuilt 19880.12 acres
1 / 1
Listing Description
Check out this beautiful commercial building, formerly operated as a successful party store since 1988. The property is in very good condition, fully up to city code and regulations, and offers a turnkey opportunity for the right buyer. It features 15 walk-in cooler doors, a newer rooftop HVAC system, a newer hot water tank, and a roof that’s only seven years old. The store also includes all shelving, countertops, a new cooling compressor, and recently repaved blacktop parking. There is both on-site and street parking available. Tenants are currently on a month-to-month lease, offering flexibility for future plans.The store closed at the end of April 2017 but was a profitable business for nearly three decades. With hard-working new ownership, this location has strong potential to thrive once again. Don’t miss this chance to take over a well-maintained property with a proven track record in a high-traffic area.
Source: SparkMLS
About this home
Located in Finney in Detroit, this property offers 2,432 sq ft, with original construction dating to 1988.
Asking $160,000 (about $66/sq ft).
Annual property taxes run approximately $5,202 ($434/month). Estimate is based on county assessor records and current millage rates; actual tax may vary with PRE status and recent assessment changes.
Broadband is available with download speeds up to 1,200 Mbps from 8 providers. Electric service is provided by DTE Electric Company; natural gas by DTE Gas Company.
Listing Property Details
Property TypeCommercial Sale
Bathrooms0
Living Area2,432 sqft
Lot Size0.12 acres
Year Built1988
Location
CityDetroit
Zip Code48224
CountyWayne
School DistrictDetroit
Construction & Systems
ConstructionBrick
WaterPublic
Sale & Financing
Listed5/21/2025
Original Price$185,000
Source: SparkMLS
Tax Information
Annual Tax$4,554
Tax Year2025
State Equalized Value$63,300
Assessed Value$63,300
Parcel #21062955.
Source: Public Records
Property Records
FEMA Flood Zone: Zone X — Minimal flood risk
Source: FEMA NFHLUSDA Rural Development: Not Eligible
Verify eligibility at USDAListed by Shane Parker
S&P Realty
Frequently Asked Questions about 5318 Alter Road, Detroit, MI 48224
What school district is 5318 Alter Road, Detroit, MI 48224 in?
Per MLS# 20251001440, this property is served by Detroit. In Michigan, school district boundaries are set by the state and do not always follow city limits.
How much are property taxes for this home?
Per MLS# 20251001440, the most recent reported annual property tax for 5318 Alter Road, Detroit, MI 48224 is $4,023. Michigan property taxes are based on a property's taxable value multiplied by the local millage rate. Primary residences qualify for a homestead exemption that lowers the rate.
Is 5318 Alter Road, Detroit, MI 48224 eligible for USDA financing?
Per USDA Rural Development boundary data, 5318 Alter Road, Detroit, MI 48224 is not in an eligible area. USDA eligibility is based on property location — properties within designated urban zones are excluded. Other low-down-payment options (FHA, VA) may still be available.
What is the FEMA flood zone designation for this property?
Per FEMA's National Flood Hazard Layer, 5318 Alter Road, Detroit, MI 48224 is in flood zone X (minimal risk). Flood insurance is not typically required in this zone but may still be advisable. FEMA flood maps are updated periodically — verify the current designation at msc.fema.gov.
Is fiber internet available at 5318 Alter Road, Detroit, MI 48224?
Per FCC Broadband Data Collection filings, fiber internet is not currently available at 5318 Alter Road, Detroit, MI 48224. The maximum advertised download speed is 1.2 Gbps. 8 internet providers serve this address. Confirm availability and speeds directly with providers.
Who are the utility providers for this property?
Per Michigan Public Service Commission service territory data: Electric: DTE Electric Company. Gas: DTE Gas Company. Water: Public. Confirm service details directly with providers.
How safe is this area?
Per our practice, crime and safety data should be obtained directly from the authoritative source. Wayne County law enforcement agencies participate in CLEMIS (Courts and Law Enforcement Management Information System) for public safety records.
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Tax Estimate
$
Annual tax$5,202
Monthly$434
Millage rate82.1844 mills
Municipality: Detroit
School district: DETROIT CITY SCHOOL DISTRICT
County: Wayne
Estimate based on SEV for a new buyer (taxable value resets to SEV on transfer). Actual taxes may vary. MI Treasury PT Estimator
Mortgage Calculator
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%
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Monthly payment$1,471
Principal & interest$1,038
Property taxes$434
Estimate only. Does not include PMI or other fees. Consult a lender for exact rates.
Internet
Download
1.2 Gbps
Upload
35 Mbps
CableLicensed Fixed WirelessGSO SatelliteSatelliteDSL
8 providers at this address
FCC Broadband Data Collection (Dec 2025). Max advertised speeds.
Utilities
DTE Electric Company
Investor-Owned
DTE Gas Company
Investor-Owned
MI Public Service Commission service territory boundaries.
Property
5318 Alter Road, Detroit, MI 48224
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Neighborhood
Finney
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Community
Detroit
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County
Wayne County
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