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    2987 Franklin St, Unit 2 Detroit, MI 48207

    For Sale
    $950,000

    Commercial space near Detroit Riverwalk, suitable for multiple uses.

    Lot size:
    0.07 Acres

    Property Features for 2987 Franklin St

    General Information

    Lot size
    0.07 Acres

    Building Details

    Year built
    1943

    Source: Good Company Agent Jay Taylor

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

    Overview

    Commercial Space Near Detroit Riverwalk

    This commercial space is located in Rivertown, adjacent to the Detroit Riverwalk and minutes from downtown Detroit and the Eastern Market. The property is suitable for office, retail, creative, or light industrial uses. The space can be combined with adjacent spaces. Sections 1, 2 + 4 can be purchased solo for $1.25M or in combination with this unit (Section 3) for a discounted $1.99M and a whopping 12,000 sqft. The property is currently occupied with a month-to-month lease. The purchase includes 2 parking spaces in the attached gated parking lot.
    Location Intelligence

    Current Use by Public Records

    CAM Marketing Agency Yogini Taveras LLC Yoga Instructor CODE313, Inc. Non-Profit Organization Franklin Lofts Condominium Complex CODE313 Non-Profit Organization

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply 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
    -83.0173988
    Latitude
    42.3390005

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    FAQs

    What type of property is this?
    Office space - Commercial space near Detroit Riverwalk, suitable for multiple uses.
    Where is this office space located?
    The property is located at 2987 Franklin St, Unit 2 Detroit, MI.
    What is the asking price?
    The asking price for this property is $950,000.
    What are key features of this property?
    This property features: - Prime location next to the Detroit Riverwalk and close to Downtown Detroit and Eastern Market.; - Versatile commercial space suitable for office, retail, creative, or light industrial use.; - Opportunity to combine with adjacent spaces for a total of 12,000 sqft (Sections 1, 2, 3 & 4).
    (313) 410-1149
    Request Owner's contact information
    2987 Franklin St, Unit 2 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
    2987 Franklin St, Unit 2 Detroit, MI 48207
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