Greektown Restaurant Space
For Lease
Contact for pricing
553 Monroe St, Detroit, MI 48226
Restaurant space in Greektown, near casino and downtown Detroit.
Space SizeContact for details
Property Size10,000 SF
Days on Market1543
Property Features for 553 Monroe St
General Information
Standard status
Active
Size
10,000 SF
Property subtype
Restaurant
Lease Type
NNN
Building Details
Building Size
10,000 SF
Tenancy
Multiple
Spaces For Lease
at 553 Monroe St Contact us- Type
- Restaurant
- Lease Type
- NNN
- Availability
- Active
Available Space 1
Listing Agency:
CRE Development
Listed By:
Cathy Wilson · License #MI 6505395296
Source:
Crexi
Added: Jun 2, 2022
Changed: Aug 21
Last Checked: Aug 20 at 6:53PM
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 CRE Development
Investment Insights
Based on property information with market context.
This restaurant space is situated in the heart of Greektown, directly across from the Greektown (Hollywood) Casino. The location on Monroe Street experiences high traffic and is near Detroit’s entertainment venues, Comerica Field, Ford Field, and Campus Martius, as well as the downtown area. The area serves workers, residents, and tourists. The space was formerly occupied by Pizza Papalis for 36 years.
Key Highlights
- Prime location in the heart of Greektown, directly across from Hollywood Casino.
- High‑traffic location on Monroe Street, attracting workers, residents, and tourists.
- Close proximity to major Detroit entertainment venues: Comerica Field, Ford Field, Campus Martius, and Downtown Detroit.
Property Analytics
Property Profile
Current Use
Lease Details
NNN (Triple Net)
Lease Type
$4.50 /SF/Yr
CAM
Location Intelligence
Trade Area within ½ mile
5,500
Businesses Nearby
94k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 44%
Shops & Services 34%
Hotels & Casinos 22%
Meijer
Groceries
41,201 visits/mo
0.4 miles
Speedway
Shops & Services
17,648 visits/mo
0.3 miles
Hilton Garden Inn Detroit Downtown
Hotels & Casinos
13,735 visits/mo
0.2 miles
Dollar General
Shops & Services
9,554 visits/mo
0.5 miles
Element Detroit At The Metropolitan
Hotels & Casinos
6,858 visits/mo
0.4 miles
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
Market
Lease Benchmarks for Detroit, MI
$15.02 /SF/Yr
Avg Asking Price
$5.35–$25 /SF/Yr
Price Range
4,410 SF
Avg Space Size
This space is priced 100% above the average of $15.02 /SF/Yr.
Vacancy Rate% for Retail in Detroit, MI
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Restaurant space in Greektown, near casino and downtown Detroit.
Where is this conventional restaurant located?
The property is located at 553 Monroe St Detroit, MI.
What is the lease rate?
The lease rate is $30 SF/Yr.
What are key features of this property?
This property features: Prime location in the heart of Greektown, directly across from Hollywood Casino.; High‑traffic location on Monroe Street, attracting workers, residents, and tourists.; Close proximity to major Detroit entertainment venues: Comerica Field, Ford Field, Campus Martius, and Downtown Detroit.
