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Property profile & analytics

100 Michigan Ave Detroit, MI 48226-2623

  • Commercial real estate
  • 12,894 SF
  • 0.15 lot acres
OFF-MARKET
Last Sale
Jan 10, 2022
$2,450,000
Value Estimations
$3,000,000
Show details
Cap Rate Potential
5%
Commercial real estate
Location Intelligence
Property ID
US43-0697153
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

Current Use by Public Records

  • Wabash Gift Shop / Gift Shop

Property Details for 100 Michigan Ave

Year built
1938
Lot size
0.15 lot acres
Property size
12,894 SF
Zone code
B5
Property type
Commercial real estate
APN
02000264-6
APU
20002646

Description

This exceptional 20,756-square-foot retail space, located at 100 Michigan Ave in Detroit, Michigan, presents a unique investment opportunity. Housed in the historic First Independence Bank Building, this property offers multiple spaces for lease, ranging from a minimum of 6,345 square feet up to the entire 20,756 square feet. Currently, the entire building is vacant, providing a blank canvas for a single large tenant or the potential for multiple smaller businesses. Built in 1915, the building sits on a 0.15-acre lot and is zoned B5, offering flexibility for a variety of commercial uses. The property's prime location in downtown Detroit provides excellent visibility and accessibility. The address is 100 Michigan Ave, Detroit, MI 48226, with Wayne County Assessor's Parcel Number (APN) 23-00-201-80-22F. This is a rare chance to acquire a significant retail presence in a vibrant urban setting. The building's historical character combined with its modern adaptability makes it an ideal location for businesses seeking a unique and prominent space. The entire building is available for lease, offering unparalleled flexibility for a variety of commercial ventures. Serious inquiries are encouraged to explore this exceptional opportunity.


Value Estimations

based on Realmo’s proprietary methodology
  • AI approach

    Method
    Estimation
    Statistic approach
    $3,090,000
  • CAP approach

    CAP Return
    Estimation
    6%
    $2,555,000
    6.5%
    $2,355,000
    7%
    $2,190,000
  • Comparable approach

    Method
    Estimation
    Statistic Estimate
    $2,189,000
    Market price range: $439k - $2.19M
    AI Estimate
    $2,170,000
    Market price range: $431k - $2.17M

Get a detailed, property-specific valuation — fast and free


Location Insight

  • Map
  • Local Demand
City
Detroit
County
Wayne
State
Michigan
Longitude
-83.0482
Latitude
42.3319
CBSA code
19820
CBSA name
DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2020
$33,157
$0.00
$0.00
$369,900
-
$0.00
$0.00
$739,800
More about this property
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