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    1938 Franklin St Detroit, MI 48207

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    For Sale
    $3,950,000

    Newly renovated creative workspace in Detroit's East Riverfront.

    Lot size:
    0.62 Acres

    Property Features for 1938 Franklin St

    General Information

    Lot size
    0.62 Acres

    Building Details

    Year built
    1900

    Source: O'Connor Realty Detroit, LLC Agent Vincent Mazzola

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

    Overview

    Renovated Creative Workspace in Detroit

    The Elevator Building offers creative workspace in Detroit's East Riverfront. The building hosts a community of creative professionals working in media, architecture, fashion, wellness, community services, and other fields. The spaces offer a modern reboot of Detroit's industrial past, featuring ample light, high ceilings, and exposed brick and beams. Capital improvements include new roof systems, energy-efficient windows, new HVAC units, and renovated bathrooms. Amenities include a conference room, kitchenette, bike storage, high-speed wifi and a private shower room. Tenants take advantage of the building's direct proximity to the Riverwalk and the Dequindre Cut to access downtown, Eastern Market and Lafayette Park by foot, bike or scooter.
    Insight Report Location Intelligence

    Current Use by Public Records

    Urban Solace Mind ... Yoga Studio Fit by Chrisy ... Personal Trainer Phlora Co. Photography Service Iron & Light Collaborative ... Photography Studio PRG Business Management Consultant

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop 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
    -83.0264562
    Latitude
    42.3346193

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    FAQs

    What type of property is this?
    Creative space - Newly renovated creative workspace in Detroit's East Riverfront.
    Where is this creative space located?
    The property is located at 1938 Franklin St Detroit, MI.
    What is the asking price?
    The asking price for this property is $3,950,000.
    What are key features of this property?
    This property features: - Newly renovated building with modern creative workspace.; - Prime location on Detroit's East Riverfront, near the Riverwalk and Dequindre Cut.; - Features **ample light, high ceilings, and exposed brick and beams**.
    (313) 963-9891
    Request Owner's contact information
    1938 Franklin St Detroit, MI 48207
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    Detroit, MI 48207
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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
    1938 Franklin St Detroit, MI 48207
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