Redevelopment Opportunity in Midtown
For Sale
$2,500,000
453 MARTIN LUTHER KING JR Blvd, Detroit, MI 48201
Redevelopment opportunity in the heart of Detroit's Midtown neighborhood.
Property Size12,628 SF
Lot Size0.70 Acres
Days on Market164
Property Features for 453 MARTIN LUTHER KING JR Blvd
General Information
Standard status
Active
Size
12,628 SF
Lot size
0.70 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$41,049
Building Details
Building Size
12,628 SF
Year Built
1888
Listing Agency:
Signature Sotheby's International Realty Bham
(248) 804-3381
Listed By:
Jerome Dixon · License #6501380703
(248) 804-3381
Source:
Elliman
Added: Mar 11
Changed: Aug 10
Last Checked: Aug 20 at 10:48AM
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 Signature Sotheby's International Realty Bham
Investment Insights
Based on property information with market context.
This property presents a rare redevelopment opportunity in the Midtown neighborhood. Situated in the center of LCA and Olympia Entertainment, DMC Hospital, Motor City Casino, Downtown District, and Midtown, the location benefits from its proximity to the Community Benefits Impact Area for the $1.5B District Detroit Development, which includes hotels, entertainment venues, residences, retail, and business incubators. The property is on the National Historic Registry but does not have use restrictions, and the existing building could be leveled if desired. A variety of possibilities exist, including new construction on the vacant portion with rehabilitation of the existing structure. Potential uses include subsidized housing with a servicing center, co-working space, medical offices, condo conversion, or a family office center. The site offers ample space for parking and expansion. Tax credits are available for this historic site.
Key Highlights
- Prime redevelopment opportunity in Midtown neighborhood.
- Located in Community Benefits Impact Area for $1.5B District Detroit Development.
- No use restrictions despite being on the national historic registry; building can be leveled.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,282
Businesses Nearby
Explore this area
Business Placement
Demographics for 48201, MI
14,500
Population
9,900
Households
1.5
Avg Household Size
33
Median Age
37%
College-Educated
88%
High-School Grad
1.9 sq mi
ZIP Area
7,632
Density / Sq Mi
$24,392
Median Household Income
$36,835
Median Earnings
$841
Median Rent
$401,500
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - Redevelopment opportunity in the heart of Detroit's Midtown neighborhood.
Where is this commercial land located?
The property is located at 453 MARTIN LUTHER KING JR Blvd Detroit, MI.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Prime redevelopment opportunity in Midtown neighborhood.; Located in Community Benefits Impact Area for $1.5B District Detroit Development.; No use restrictions despite being on the national historic registry; building can be leveled.
