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    20550 Hoover St Detroit, MI 48205

    For Sale
    $1,100,000

    Industrial Warehouse, 27,500 SF, M-3 Zoning

    Property size:
    27,500 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    366
    This exceptional 27,500-square-foot industrial warehouse, located at 20550 Hoover St in Detroit, Michigan, presents a compelling investment opportunity. Priced at $1,100,000 ($40/sq ft), this single-tenant property sits on a 1.01-acre lot within the M-3 General Industrial District of Wayne County, zip code 48205. The building boasts a versatile design, featuring two 12'x16' grade-level loading docks and impressive ceiling heights ranging from 13' to 24'. Crucially, this property has received municipal approval as a Medical Green Zone Cannabis site, permitting both cultivation and processing activities. The City of Detroit has granted all necessary land use and zoning approvals for these operations, opening the door to a wide range of licensing possibilities, subject to the successful completion of the application process. This unique combination of industrial space and cannabis cultivation potential makes this property a rare and highly attractive investment in a rapidly evolving market. The property's strategic location in Detroit offers excellent access to major transportation routes and a growing workforce. This is a turnkey opportunity for an investor seeking a high-return asset with significant future growth potential.

    Property Features for 20550 Hoover St

    General Information

    Property type
    Distribution properties
    Square Feet
    27,500 SF
    Lot Size
    43,996 SF

    HighLights

    • 27,500 SF industrial building.
    • Two 12' x 16' grade‑level loading docks.
    • 13'-24' clear ceiling height.
    • Municipal‑approved Medical Green Zone Cannabis site (cultivation and processing).
    • City of Detroit land use and zoning approvals for cultivation and processing.
    • All license types possible, subject to application.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Distribution centers

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Detroit
    County
    Wayne
    State
    Michigan
    Longitude
    -83.0044952
    Latitude
    42.4479498

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    FAQs

    What type of property is this?
    Distribution property - Industrial Warehouse, 27,500 SF, M-3 Zoning
    Where is this distribution property located?
    The property is located at 20550 Hoover St Detroit, MI.
    What is the asking price?
    The asking price for this property is $1,100,000.
    What are key features of this property?
    This property features: 27,500 SF industrial building.; Two 12' x 16' grade-level loading docks.; 13'-24' clear ceiling height.
    Request Owner's contact information
    20550 Hoover St Detroit, MI 48205
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    Detroit, MI 48205
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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
    20550 Hoover St Detroit, MI 48205
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