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    3730 Buchanan St Detroit, MI 48208

    Sponsored
    For Sale
    $130,000

    7,000 SF Mixed-Use Detroit Building

    Property size:
    7,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This vacant, 7,000-square-foot storefront at 3730 Buchanan Street in Detroit, Michigan, presents a unique investment opportunity. Located in Wayne County, zip code 48208, this single-story, mixed-use building sits on a 0.29-acre lot and offers significant potential for redevelopment. Currently vacant, the property is available for immediate occupancy, with a projected occupancy date of April 25, 2024. The building previously housed the well-known Jimmy's Soul Food restaurant. The asking price is $130,000, translating to $18.57 per square foot. The property features ample parking with 20 spaces available. Zoned B2, this building allows for a variety of uses, including but not limited to restaurants, party stores, or event spaces. While requiring rehabilitation, the building's structure is sound, offering a solid foundation for a future owner/user. The property is classified as distressed and is sold under standard ownership. The parcel number is 20240021599. This is a rare chance to own the only commercial building on its block in the Chadsey Condon neighborhood. The property is currently listed as vacant and has a net operating income (NOI) of $0. The pro-forma NOI is also $0.

    Property Features for 3730 Buchanan St

    General Information

    Property type
    Individual retail properties
    Square Feet
    7,000 SF

    Building Details

    Buildings
    1
    Stories
    1
    Units
    1

    HighLights

    • Exclusive Chadsey Condon commercial building, 7,000 square feet.
    • Versatile space suitable for restaurant, party store, or event venue; previously housed Jimmy's Soul Food.
    • B2 zoning allows for diverse uses.
    • Property requires renovation, but has strong structural integrity.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Detroit
    County
    Wayne
    State
    Michigan
    Longitude
    -83.1007784
    Latitude
    42.340167

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    FAQs

    What type of property is this?
    Individual retail property - 7,000 SF Mixed-Use Detroit Building
    Where is this individual retail property located?
    The property is located at 3730 Buchanan St Detroit, MI.
    What is the asking price?
    The asking price for this property is $130,000.
    What are key features of this property?
    This property features: Exclusive Chadsey Condon commercial building, 7,000 square feet.; Versatile space suitable for restaurant, party store, or event venue; previously housed Jimmy's Soul Food.; B2 zoning allows for diverse uses.
    Request Owner's contact information
    3730 Buchanan St Detroit, MI 48208
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    Detroit, MI 48208
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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
    3730 Buchanan St Detroit, MI 48208
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