Turnkey Event Venue with
W 12869 W Artesian Street Unit SourceFi Detroit, MI 48223
W 12869 W Artesian Street Unit SourceFi, Detroit, MI, 48223
$1,300,000
For Sale
$1,300,000
Remodeled multi-use building with a full-service commercial kitchen, front office/reception area, and fenced yard with remote gate.
Property Size7,500 SF
Price / SF$173.33
Days on Market106
Property Features for W 12869 W Artesian Street Unit SourceFi
General Information
- Standard status
- Active
- Size
- 7,500 SF
- Property subtype
- Industrial
Building Details
- Year Built
- 19
Listing Agency
G S Inc
(313) 218-0156
Listed by
Garland Solomon
(313) 218-0156
Source
Xome
Added: Apr 5 Checked: Jul 19 at 1:47 am
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 G S Inc
Investment Insights
Based on property information with market context.
This remodeled multi-use commercial building is arranged with front office space, a reception area, and a lobby, supported by two restrooms. The property includes a fully updated full-services commercial kitchen with high-quality appliances, along with a ready-to-use setup featuring new matching tables and chairs. Additional improvements listed include updated electrical throughout, furnaces, and an alarm system.
A large fenced yard is included, with a remote-controlled gate. The building has three bay doors located at the rear, supporting flexible use of the rear portion of the facility.
The space is currently operated as an event space, with suitability mentioned for receptions, cabarets, baby showers, and proms, while the property is also described as suitable for other uses such as industrial, manufacturing, collision repair, auto service, or warehouse operations.
A large fenced yard is included, with a remote-controlled gate. The building has three bay doors located at the rear, supporting flexible use of the rear portion of the facility.
The space is currently operated as an event space, with suitability mentioned for receptions, cabarets, baby showers, and proms, while the property is also described as suitable for other uses such as industrial, manufacturing, collision repair, auto service, or warehouse operations.
Key Highlights
- Remodeled multi‑use commercial building with front office, reception area, and lobby
- Full‑service commercial kitchen with high‑quality appliances, plus tables and chairs included
- 2 restrooms and 3 guest facilities
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 | $139.5k | $18.60 |
| − Vacancy | −$7.5k | −$1.00 |
| EGI | $132.0k | $17.60 |
| − OpEx | −$33.0k | −$4.40 |
| NOI | $99.0k | $13.20 |
7,500 SF · lease $18.60/SF/yr · vacancy 5.40% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.41M
$1.24M – $1.65M
NOI $98,975 @ 7.0% cap · market cap 7.61%
Second Best
Industrial
$521.1K
$456.0K – $608.0K
NOI $36,478 @ 7.0% cap · market cap 2.81%
Theoretical Best
Office A
$1.65M
$1.45M – $1.93M
NOI $115,817 @ 7.0% cap · market cap 8.91%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Wedding venues
Similar For Sale Nearby
FAQs
What type of property is this?
Wedding venue - Remodeled multi-use building with a full-service commercial kitchen, front office/reception area, and fenced yard with remote gate.
Where is this wedding venue located?
The property is located at W 12869 W Artesian Street Unit SourceFi Detroit, MI.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Remodeled multi‑use commercial building with front office, reception area, and lobby; Full‑service commercial kitchen with high‑quality appliances, plus tables and chairs included; 2 restrooms and 3 guest facilities
