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    1600 Wilkins St Detroit, MI 48207

    Sponsored
    For Sale
    $2,000,000

    1.15-acre lot, B6 zoning, $2M

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    395
    This exceptional 1.15-acre commercial land parcel, located at 1600 Wilkins Street in Detroit, Michigan, presents a unique investment opportunity. The property, identified by APN 01-07000913-5, is zoned B6, offering a wide range of potential commercial development options. Priced at $2,000,000, this translates to a land value of $39.92 per square foot. The lot boasts significant street frontage, with approximately 200 feet along Orleans Street and 250 feet along Wilkins Street, providing excellent visibility and accessibility. Utilities are conveniently located on-site, simplifying development plans. Situated in Wayne County, with a Detroit zip code of 48207, this property benefits from its strategic location within the city. The asking price per acre is $1,739,130. This prime location and substantial lot size make this an attractive proposition for developers seeking a high-impact commercial project in a dynamic urban setting. The property's size and zoning provide considerable flexibility for a variety of commercial ventures. Don't miss this chance to acquire a significant piece of Detroit real estate.

    Property Features for 1600 Wilkins St

    General Information

    Property type
    Land
    Lot Size
    50,094 SF

    HighLights

    • List Price: $1,739,130 per acre
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Detroit
    County
    Wayne
    State
    Michigan
    Longitude
    -83.0402309
    Latitude
    42.3498591

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    FAQs

    What type of property is this?
    Land - 1.15-acre lot, B6 zoning, $2M
    Where is this land located?
    The property is located at 1600 Wilkins St Detroit, MI.
    What is the asking price?
    The asking price for this property is $2,000,000.
    What are key features of this property?
    This property features: List Price: $1,739,130 per acre; ;
    Request Owner's contact information
    1600 Wilkins St Detroit, MI 48207
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    Detroit, MI 48207
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1600 Wilkins St Detroit, MI 48207
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