1250 Library Street, Detroit, MI 48226
Renovated, 100% occupied mixed-use building with bi-level lofts and an in-house Cuban restaurant.
- Added:
- Sep 11, 2025
- Days on Market:
- 283
- Last Refresh:
- Jun 20 at 8:33 am
Property Features for 1250 Library Street
General Information
- Standard status
- Active
- Size
- 32,100 SF
- Property subtype
- Multifamily, Mixed Use, Land, Office, Retail
Building Details
- Year Built
- 1907
Listing agent Lisa Debs License #MI
Listing office Taurean Real Estate
Listing date Sep 11, 2025
Source Crexi
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of Taurean Real Estate
HighLights
- 100% occupied mixed‑use building built in 1907 featuring 8 traditional style live/work lofts, plus 1 office and 1 art studio
- In‑house Vicentes Cuban Cuisine on site
- Owned, renovated, and cared for since 1992
- Renovated interiors include exposed ductwork and brick, original maple floors, and high ceilings
- Bi‑level units; each unit includes DWs, fridges, gas ranges, and in‑unit W/D
- Walk Score of 98 with walkable access to sport stadiums, concert venues, restaurants, Campus Martius, the Opera House, and the River Walk
Overview
The property is in a walkable setting with a Walk Score of 98. It is positioned within walking distance of multiple sport stadiums, concert venues, restaurants, Campus Martius, the Opera House, and the River Walk, placing amenities and events within easy reach.
With a fully occupied operating mix of live/work space, professional space, and a conventional restaurant concept on site, this offering is suited for buyers seeking a turn-key building with established tenant occupancy at the time of sale. Financials are available upon NDA, non-circumvention, and proof of funds, and the offering materials are referenced as available through the attached brochure/OM.
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $597.1k | $18.60 |
| − Vacancy | −$32.2k | −$1.00 |
| EGI | $564.8k | $17.60 |
| − OpEx | −$141.2k | −$4.40 |
| NOI | $423.6k | $13.20 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Detroit
- County
- Wayne
- State
- Michigan
- Longitude
- -83.0469085
- Latitude
- 42.3345616
