Worthfield

11724 Greenfield Road, Detroit, MI 48227

  • For Sale $1,250,000
  • Property Type Other
  • Units 27
  • Date Updated Feb 15, 2025

Global Real Estate Advisors are pleased to present the exclusive offering of 11724 Greenfield, a stabilized, 27-unit multifamily property in Detroit. This turn-key investment property was built in 1964 and consists of 5 studios and 22 one-bedroom units, with each unit including a refrigerator, stove, A/C unit, and a spacious living layout. As of the end of January 2025, the property has only one vacancy, with an average rent of about $819. The deal comes with substantial rental upside, as about half of the tenants are below market rents. There is also operational income potential by implementing a utility reimbursement program. 


Detroit Market Outlook

  • Demand: Demand for apartments in Detroit increased to a three-year high. 
  • New construction: New construction slowed down, which reduced supply-side pressures. 
  • Absorption: New apartment construction was absorbed in the suburbs, but it was more difficult to absorb in the city. 
  • Operating expenses: Operating expenses at many buildings increased, including labor and insurance costs. 

Rent Growth Outlook

  • Rent growth is expected to continue to improve over the next 12–18 months. 
  • Rent growth is expected to accelerate, surpassing 5% by mid-2025. 
  • The gap between new supply and demand narrowed to its smallest point since early 2021, suggesting market stabilization in 2025. 


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Highlights

  • Recently Renovated through 2024
  • Each Unit Features Stove, Refrigerator, AC Unit
  • Historically Strong Occupancy
  • Ability to Implement Utility RUBS Program

Contacts

broker
Nick Kirby

Location

Getting Around

  • Walk Score ®

    56/100 Somewhat Walkable

  • Transit Score ®

    44/100 Some Transit

  • Bike Score ®

    45/100 Somewhat Bikeable
Powered by Walk Score ®
  • City Detroit, MI
  • Neighborhood Brooks
  • Zip Code 48227
  • Market Detroit

Points of Interest

  • CDM Transport LLC

    2.94 miles

  • Walnut Grove Station

    4.85 miles

  • Smith's Creek Depot Station

    4.91 miles

  • Dearborn

    5.06 miles

  • Firestone Station

    5.12 miles

  • Grand Boulevard

    6.33 miles

  • Detroit

    6.40 miles

  • Baltimore Street

    6.40 miles

  • Amsterdam Street

    6.50 miles

  • Ferry Street

    6.71 miles

  • Sunoco

    0.04 miles

  • Marathon

    0.13 miles

  • Zoom

    0.53 miles

  • Citgo

    0.62 miles

  • Clark

    0.85 miles

  • UF

    0.88 miles

  • Rhombus Energy Solutions

    4.64 miles

  • Detroit Pistons Performance Center

    6.17 miles

  • Tesla Supercharger

    6.35 miles

  • Wayne State University - Lot #50

    6.40 miles

  • MRC parking lot

    3.00 miles

  • Paid Parking

    3.14 miles

  • Parking Lot G

    3.40 miles

  • Vistor Parking Lot A

    3.43 miles

  • Vistor Parking Lot B

    3.46 miles

  • Parking Lot C

    3.52 miles

  • Parking Lot E

    3.54 miles

  • Parking Lot D

    3.56 miles

  • Student / Vistor Parking Lot B

    3.88 miles

  • Holiday Inn Express & Suites

    2.85 miles

  • SpringHill Suites Detroit Dearborn

    2.89 miles

  • Residence Inn Detroit Dearborn

    2.94 miles

  • TownePlace Suites Detroit Dearborn

    2.95 miles

  • Doubletree by Hilton Hotel Detroit-Dearborn

    3.16 miles

  • Hawthorn Suites By Wyndham Dearborn

    3.17 miles

  • Park Drive Motel

    3.28 miles

  • Royal Budget Inn

    3.30 miles

  • Courtyard Detroit Dearborn

    3.43 miles

  • Americas Best Value

    3.81 miles

  • Checkers

    0.10 miles

  • McDonald's

    0.16 miles

  • Omega Coney Island

    0.62 miles

  • Church's Chicken

    0.66 miles

  • Lola Mae's Bistro & Bar

    0.88 miles

  • Popeyes

    1.00 miles

  • Lavish Bar & Grill

    1.04 miles

  • White Castle

    1.11 miles

  • Chita's Nefertiti Bar

    1.45 miles

  • Subway

    1.61 miles

  • Joan Ann Bullock Academy

    0.65 miles

  • Hazel Park Empowerment West Alternative School

    0.66 miles

  • Temple of Faith Baptist School

    0.76 miles

  • Henderson Academy

    0.82 miles

  • Dossin Elementary-Middle School

    0.91 miles

  • Breithaupt Career and Technical Center

    0.94 miles

  • Detroit Innovation Academy

    1.11 miles

  • Academy of Oak Park-Whitcomb

    1.14 miles

  • First Step Academy

    1.23 miles

  • Burns Elementary-Middle School

    1.36 miles

  • Allen Baptist Childcare & Development Center

    1.07 miles

  • Hampton Church Child Care Center

    1.89 miles

  • New West Side Head Start

    2.07 miles

  • Tott's Early Learning Center

    2.11 miles

  • Sunnybrook Day Nursery

    2.20 miles

  • Children's Village International Center

    2.21 miles

  • Kidz Kingdom

    2.31 miles

  • Pencil Palace Daycare & Nursery School

    2.37 miles

  • God's Little Schoolhouse

    2.68 miles

  • Academy of Detroit-West

    2.94 miles

Frequently Asked Questions

How much does Worthfield cost?

The space currently listed for sale at Worthfield asks for $1,250,000.

What is the total square footage of Worthfield?

Worthfield totals 19,500 square feet.

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Contact Listing Broker
broker
Nick Kirby

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