Property profile

139 S Summit St Detroit, MI 48209

FOR SALE
Warehouses
Property ID
US43-4828836
38,568 SF 1.02 ac lot Built 1912
Individually Owned 3-yr Hold Free & Clear
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Property summary

AI-generated overview

This exceptional 38,568-square-foot warehouse, located at 139 S Summit St, Detroit, MI 48209, presents a unique investment opportunity. Built in 1912, this two-story structure sits on a 1.114-acre lot and boasts heavy power, a significant advantage for various industrial uses. Its strategic location offers easy access to all major freeways, placing it ideally between the Ambassador and Gordy Howe Bridges, and in close proximity to Corktown and Downtown Detroit. The property benefits from flexible M4 zoning, which is notably cannabis-friendly, opening doors to a wider range of potential tenants. Security features include a fenced and secured lot, secured parking, and security cameras, providing peace of mind for both owners and occupants. The building's substantial size and versatile zoning, combined with its prime location and enhanced security, make this a highly desirable property for a variety of industrial businesses. Wayne County location.

Property profile

Verified
Property type Warehouses
Use group WAREHOUSE, STORAGE
Year built 1912
Total area 38,568 SF
Lot 1.02 ac (44,431 SF)
Zoning code M4
APN 16009895-7
UPID US43-4828836

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • General Contractor

Location

139 S Summit St Detroit, MI 48209
Detroit metro Census 524600 DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
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Comparable Approach Comparable
by Request
Blend (final) Blend
$500k

Owner & transaction history

since 2023
5 recorded transactions
2023
Price N/A
2023
Price N/A
2017
Price N/A
2016
$45,000
2008
$30,000

Zoning & alternative use

M4 · Detroit, MI
Zoning description

ff. 5-28-2005) Sec. 50-7-4. - Industrial Districts. Industrial districts within the City are as follows: (1) M1 Limited Industrial District. (2) M2 Restricted Industrial District. (3) M3 General Industrial District. (4)…

General category INDUSTRIAL

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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