Detroit CBD Office
440 East Congress Street Detroit, MI 48226
For Sale
$10,000,000
85,539 SF office building in Detroit's CBD for sale.
Property Size85,539 SF
Price / SF$116.91
Days on Market140
Property Features for 440 East Congress Street
General Information
- Standard status
- Active
- Size
- 85,539 SF
- Property subtype
- office.office_building
Building Details
- Year Built
- 1925
Listing Agency:
Avison Young - US - MI - Detroit
(313) 622-0159
Listed By:
Robert Danforth
(313) 622-0159
Source:
Avisonyoung
Added: Mar 7
Changed: Jul 10
Last Checked: Jul 10 at 1:14PM
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 - US - MI - Detroit
Investment Insights
Based on property information with market context.
This is an up to 85,539 square foot office building located in a B-6 zoning region of Detroit's CBD. It is less than one mile from the I-75 expressway. The property presents an attractive reposition and redevelopment opportunity, with a low replacement cost or office/medical office user opportunity. The seller is motivated.
Key Highlights
- Up to 85,539 square foot office building in Detroit's CBD.
- Attractive reposition and redevelopment opportunity.
- Located in a B‑6 zoning region.
Financial Insights For Office B
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 | $1.50M | $17.52 |
| − Vacancy | −$343.2k | −$4.01 |
| EGI | $1.16M | $13.51 |
| − OpEx | −$288.9k | −$3.38 |
| NOI | $866.6k | $10.13 |
85,539 SF · lease $17.52/SF/yr · vacancy 22.90% · expense 25.00%
Alternative Uses
Best Use
Office B
$12.38M
$10.83M – $14.44M
NOI $866,590 @ 7.0% cap · market cap 8.67%
Second Best
—
—
no second resolved use
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Johnny Rags
Clothing Store
Tax Express
Tax Preparation
Alexsy Law Group
Law Firm
A & H Financial Solutions
Financial Advisor
FAQs
What type of property is this?
Office building - 85,539 SF office building in Detroit's CBD for sale.
Where is this office building located?
The property is located at 440 East Congress Street 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 square foot office building in Detroit's CBD.; Attractive reposition and redevelopment opportunity.; Located in a B‑6 zoning region.
