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    2939 Park Ave Detroit, MI 48201

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    For Sale
    $1,100,000

    Vacant land in downtown Detroit, steps from Little Caesars Arena.

    Lot size:
    0.07 Acres

    Property Features for 2939 Park Ave

    General Information

    Lot size
    0.07 Acres

    Source: JNA Real Estate Agent Rashad Elabed

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

    Overview

    Commercial Land Near Little Caesars

    This commercial vacant land is located in the heart of downtown Detroit, steps away from Little Caesars Arena and a block from Woodward Avenue and Cass Avenue. The surrounding area features new restaurants and projects. The property has been surveyed, and property lines are marked to indicate the dimensions. The intended use of the property is commercial. A clean title, warranty deed, and title insurance will be provided to the buyer.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Detroit
    County
    Wayne
    State
    Michigan
    Longitude
    -83.057813
    Latitude
    42.342832

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    FAQs

    What type of property is this?
    Land - Vacant land in downtown Detroit, steps from Little Caesars Arena.
    Where is this land located?
    The property is located at 2939 Park Ave Detroit, MI.
    What is the asking price?
    The asking price for this property is $1,100,000.
    What are key features of this property?
    This property features: - Prime location steps from Little Caesars Arena in downtown Detroit.; - Situated a block off Woodward and Cass Avenues.; - Surrounded by new restaurants and projects.
    (734) 497-5558
    Request Owner's contact information
    2939 Park Ave 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
    2939 Park Ave Detroit, MI 48201
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