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    453 Martin Luther King Jr Blvd Detroit, MI 48201

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    For Sale
    $2,500,000

    Redevelopment opportunity near District Detroit Development and DMC Hospital.

    Lot size:
    0.70 Acres

    Property Features for 453 Martin Luther King Jr Blvd

    General Information

    Lot size
    0.70 Acres

    Building Details

    Year built
    1888

    Source: Signature Sotheby's International Realty Bham Agent Jerome Dixon

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Redevelopment Opportunity in Midtown Neighborhood

    This property presents a rare redevelopment opportunity in the Midtown neighborhood. Situated in the center of LCA and Olympia Entertainment, DMC Hospital, Motor City Casino, Downtown District, and Midtown, the location benefits from its proximity to the Community Benefits Impact Area for the $1.5B District Detroit Development, which includes hotels, entertainment venues, residences, retail, and business incubators. The property is on the national historic registry but does not have any use restrictions, and the existing building could be leveled if desired. A variety of possibilities exist, including new construction on the vacant portion with rehab of the existing structure. Potential uses include subsidized housing with a servicing center, co-working space, medical offices, condo conversion, or a family office center. The site offers plenty of space for parking and expansion. Tax credits are available for this historic site.
    Insight Report Location Intelligence

    Current Use by Public Records

    Oliver Glenn D Lawyer Lugosi Law Firm Law Firm Cloverleaf Consulting Group, ... Consultant Detroit Document Scanning ... Commercial Printer Starr Detroit Academy School

    Suggested Use

    Realty agency Law Firm Spa & Massage Restaurant Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Detroit
    County
    Wayne
    State
    Michigan
    Longitude
    -83.061275
    Latitude
    42.34535

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    FAQs

    What type of property is this?
    Medical office - Redevelopment opportunity near District Detroit Development and DMC Hospital.
    Where is this medical office located?
    The property is located at 453 Martin Luther King Jr Blvd Detroit, MI.
    What is the asking price?
    The asking price for this property is $2,500,000.
    What are key features of this property?
    This property features: - Redevelopment Opportunity in Midtown: Rare chance to redevelop property in a prime location.; - No Use Restrictions: Property has no use restrictions, allowing for demolition if desired.; - Versatile Usage Potential: Suitable for subsidized housing, co-working spaces, medical offices, condo conversion, or a family office center.
    (248) 804-3381
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    453 Martin Luther King Jr Blvd Detroit, MI 48201
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    453 Martin Luther King Jr Blvd Detroit, MI 48201
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