Central Business District Office
For Sale
Contact for pricing
440 E Congress St, Detroit, MI 48226
Large office building in Detroit’s CBD with B-6 zoning and access to I-75 within one mile.
Property Size85,539 SF
Price / SF$116.91
Days on Market217
Property Features for 440 E Congress St
General Information
Standard status
Active
Size
85,539 SF
Property subtype
OFFICE
Zoning
B-6
Site & Location
Neighborhood
Downtown
Highway Access
Yes
Listing Agency:
Avison Young | Detroit
(313) 209-4120
Listed By:
Robert Danforth
(313) 622-0159
Source:
Moodyscre
Added: Mar 29
Changed: Oct 25
Last Checked: Oct 30 at 6:12PM
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 Avison Young | Detroit
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Investment Insights
Based on property information with market context.
Up to 85,539 square foot office building located in a B-6 zoning region of Detroit’s CBD. The property is presented as a repositioning and redevelopment opportunity and may also suit an office or medical office user seeking a lower replacement-cost alternative.
The building is less than one mile from the I-75 expressway, supporting convenient regional access for employees, patients, and visitors.
Offered for sale as a larger-format office asset with the flexibility associated with its CBD location and B-6 zoning designation.
The building is less than one mile from the I-75 expressway, supporting convenient regional access for employees, patients, and visitors.
Offered for sale as a larger-format office asset with the flexibility associated with its CBD location and B-6 zoning designation.
Key Highlights
- Up to 85,539 SF office building in Detroit’s CBD
- Located in a B‑6 zoning region
- Less than 1 mile from I‑75 expressway
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$886,868
Cap Rate
8.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$17,737,360
$17.7M
Cap Rate 7%
$12,669,543
$12.7M
Cap Rate 9%
$9,854,089
$9.9M
Market Conditions
NOI Build-Up for 85,539 SF
Gross rent
$1.64M $19.20/SF
− Vacancy
−$164.2K −$1.92/SF
EGI
$1.48M $17.28/SF
− OpEx
−$591.2K −$6.91/SF
NOI
$886.9K $10.37/SF
Area
Detroit, MI
Vacancy
10.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$17,737,360
Cap Rate 7%
$12,669,543
Cap Rate 9%
$9,854,089
Alternative Uses
Best Use
Healthcare Medical
$12.67M
$11.09M – $14.78M
NOI $886,868 @ 7.0% cap · market cap 8.87%
Second Best
Office B
$12.38M
$10.83M – $14.44M
NOI $866,590 @ 7.0% cap · market cap 8.67%
Theoretical Best
Office A
$18.87M
$16.51M – $22.02M
NOI $1,320,917 @ 7.0% cap · market cap 13.21%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
5,321
Businesses Nearby
Explore this area
Business Placement
Demographics for 48226, MI
6,307
Population
5,160
Households
1.2
Avg Household Size
37
Median Age
53%
College-Educated
93%
High-School Grad
1.2 sq mi
ZIP Area
5,256
Density / Sq Mi
$69,813
Median Household Income
$60,957
Median Earnings
$1,714
Median Rent
$307,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Detroit, MI
Frequently Asked Questions
What type of property is this?
Office building - Large office building in Detroit’s CBD with B-6 zoning and access to I-75 within one mile.
Where is this office building located?
The property is located at 440 E Congress St Detroit, MI.
What is the asking price?
The asking price for this property is $10,000,000.
What are key features of this property?
This property features: Up to 85,539 SF office building in Detroit’s CBD; Located in a B‑6 zoning region; Less than 1 mile from I‑75 expressway
