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    80-92 Willis St Detroit, MI 48201

    Sponsored
    For Sale
    $1,750,000

    0.4-acre mixed-use redevelopment opportunity.

    Property size:
    4,533 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 0.4-acre mixed-use development site in Midtown Detroit presents a compelling investment opportunity. Located at 80-92 E Willis, this vacant property boasts an R6 zoning designation, permitting high-density residential construction with a potential buildable area of up to 50,000 square feet. The site comprises three buildings, totaling 4,533 square feet, built in 1916, across two lots (APN 01-001045 and 01-001046). Utilities including water, sewer, electric, and gas are readily available. The property's prime location offers unparalleled access to a vibrant urban environment, situated a half-block from Woodward Avenue, directly across from the Detroit Medical Center and Children's Hospital of Michigan. Proximity to Wayne State University (24,000 students), Little Caesars Arena, and a concentration of 30,627 daytime employees within a one-mile radius, ensures a robust potential tenant pool. The surrounding area is rich with restaurants, retail, and entertainment venues, including the Majestic Theater, making this a highly desirable location for various developments, including multi-family, mixed-use, student housing, assisted living, childcare, nursing homes, lofts, or townhouses. The asking price is $1,750,000, representing a land value of $4,375,000 per acre. This is a truly unique chance to capitalize on the growth and potential of Midtown Detroit.

    Property Features for 80-92 Willis St

    General Information

    Property type
    Mixed-use properties
    Square Feet
    4,533 SF
    Lot Size
    17,424 SF

    Building Details

    Year Built
    1916
    Buildings
    3
    Stories
    2

    HighLights

    • .40‑acre Midtown development site.
    • Walkable location.
    • Desirable amenities nearby.
    • R6 High‑Density Residential zoning.
    • 50,000 square foot buildable area.
    • Proximity to the DMC Medical Campus.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant 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
    -83.0593003
    Latitude
    42.3520203

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    FAQs

    What type of property is this?
    Mixed-use property - 0.4-acre mixed-use redevelopment opportunity.
    Where is this mixed-use property located?
    The property is located at 80-92 Willis St Detroit, MI.
    What is the asking price?
    The asking price for this property is $1,750,000.
    What are key features of this property?
    This property features: .40-acre Midtown development site.; Walkable location.; Desirable amenities nearby.
    Request Owner's contact information
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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
    80-92 Willis St Detroit, MI 48201
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