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    1904 Springwells St Detroit, MI 48209

    Sponsored
    For Sale
    $450,000

    Detroit Retail Building, High Potential

    Property size:
    10,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional mixed-use property at 1904-1912 Springwells Street in Detroit, Michigan, presents a compelling investment opportunity. The 10,000 square foot building, constructed in 1924, boasts a charming two-story design and sits on a 0.08-acre lot (Wayne County, APN 20-005170). The property is zoned B4 - General Zoning District. The first floor comprises approximately 5,000 square feet of retail space, currently divided into four units. One unit is occupied by U.S. Gold Exchange, with a lease potentially transferable to a new owner. The remaining retail space will be vacant upon sale. The second floor offers another 5,000 square feet, previously configured as four apartment units, presenting significant upside potential for redevelopment. The building includes eight parking spaces located at the rear. The asking price is $450,000, translating to a land value of $45 per square foot. This property offers a unique blend of established tenancy and substantial renovation opportunities, promising strong income generation for a savvy investor. The property's location in Detroit, Michigan, zip code 48209, provides excellent access to the city's vibrant commercial landscape.

    Property Features for 1904 Springwells St

    General Information

    Property type
    Retail properties
    Square Feet
    10,000 SF
    Lot Size
    3,485 SF

    Building Details

    Year Built
    1924
    Stories
    2
    Units
    4

    HighLights

    • Approximately 10,000 SF mixed‑use building in Detroit, MI.
    • 5,000 SF of ground floor retail space, divided into four units.
    • 5,000 SF of second‑floor space, previously configured as four apartments.
    • U.S. Gold Exchange tenant with potentially transferable lease.
    • Remaining retail space vacant upon sale.
    • Eight parking spaces at the rear.
    Property Profile Location Intelligence

    Current Use by Public Records

    Planet Rock Music Music Store

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply 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
    -83.1252337
    Latitude
    42.3090307

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    FAQs

    What type of property is this?
    Retail property - Detroit Retail Building, High Potential
    Where is this retail property located?
    The property is located at 1904 Springwells St Detroit, MI.
    What is the asking price?
    The asking price for this property is $450,000.
    What are key features of this property?
    This property features: Approximately 10,000 SF mixed-use building in Detroit, MI.; 5,000 SF of ground floor retail space, divided into four units.; 5,000 SF of second-floor space, previously configured as four apartments.
    (248) 476-3700
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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
    1904 Springwells St Detroit, MI 48209
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