525 W Lafayette Blvd Detroit, MI 48226
Property Features for 525 W Lafayette Blvd
General Information
- Property type
- Commercial
- Standard status
- Active
- Lot size
- 0.03 Acres
Building Details
- Year built
- 1927
Source:
Elliman
Listing Agent: Jerome Huez
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
Fort Shelby Residences Investment Opportunity
Located in the heart of Detroit’s Central Business District, the Fort Shelby Residences present an investment opportunity. The offering includes two high-floor condominium units situated just below the penthouse level. Both units are fully leased through July 2026, providing immediate cash flow. Residents have access to amenities of the Hilton DoubleTree Hotel, including lobby reception, coffee shop, restaurant and bar, business and reception center, and fitness room. The residential floors are located above the hotel in the Albert Kahn tower. The property benefits from low property taxes—less than $3,000 per unit per year—due to the NEZ-Rehab tax abatement in place through 2032. The Home Owners Association does not restrict long-term leasing, but short-term rentals are not permitted. The condos are positioned for appreciation with continued development throughout West Downtown, including the Cambria Hotel, Water Square Apartments, and the Ralph C. Wilson Jr. Centennial Park. As individual condominium units, they may also be sold separately in the future.
Location Intelligence
Current Use by Public Records
DoubleTree Suites by ...
Hotel & Motel
Motor City Kitchen
Restaurant
Round Bar
Bar & Pub
Phat Fingers
Restaurant
Phat Fingers Korean ...
Restaurant
Location Insight
- Map
- Local Demand
- City
- Detroit
- County
- Wayne
- State
- Michigan
- Longitude
- -83.052906
- Latitude
- 42.329131
Nearby Similar for Sale
FAQs
What type of property is this?
Residential income property - Two high-floor condos in Detroit's Central Business District.
Where is this residential income property located?
The property is located at 525 W Lafayette Blvd Detroit, MI.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: - Immediate and reliable cash flow from fully leased units through July 2026.; - Extremely low property taxes (less than $3,000 per unit per year) due to NEZ-Rehab tax abatement through 2032.; - Prime location in the heart of Detroit's Central Business District, with ongoing development projects enhancing property value.
