Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    645 Griswold St Detroit, MI 48226

    For Lease
    $25 SF/Yr

    Iconic Detroit landmark, 685,000 sqft available

    Lot size:
    1,149,710 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    The Penobscot Building, a 47-story landmark in downtown Detroit (645 Griswold St, 48226), offers a unique opportunity for businesses seeking prestigious office space. Built in 1928, this iconic structure boasts 1,149,710 square feet across three buildings, situated on a 1.07-acre lot. Currently, 685,000 contiguous square feet are vacant, divisible into spaces as small as 1,500 square feet. The building features twelve high-speed elevators, a stunning four-story entrance archway, and meticulously preserved museum-quality decorations. Office suites range from small executive spaces to full floors (13,000 - 30,000 square feet), adaptable to both traditional and contemporary designs. Tenants benefit from on-site retail, restaurants, and convenient services, along with professional on-site management and maintenance. The Penobscot Building serves as a fiber-optic hub for the Detroit area, ensuring superior telecommunications. Security includes trained ambassadors and a sophisticated video monitoring system. Ample parking is available in nearby structures. The building's location in the heart of Detroit's revitalized business, cultural, sports, and entertainment districts provides unparalleled access and visibility. Zoned DDA Detroit in Wayne County, this property presents an exceptional full-service office environment with a rich history and a bright future.

    Property Features for 645 Griswold St

    General Information

    Property type
    Restaurants
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    1,149,710 SF
    Total Rate
    2395229.17

    Building Details

    Year Built
    1928
    Buildings
    3
    Stories
    47

    Unit(s) available at that property

    Space
    site 1310
    Size
    320 SF
    Rate per SF
    $25
    Space
    suite 1312
    Size
    359 SF
    Rate per SF
    $25
    Space
    suite 1375
    Size
    327 SF
    Rate per SF
    $25
    Space
    suite 1380
    Size
    255 SF
    Rate per SF
    $25
    Space
    suite 1370
    Size
    3,584 SF
    Rate per SF
    $25
    Space
    suite 1371
    Size
    883 SF
    Rate per SF
    $25
    Space
    suite 1377 & 1379
    Size
    629 SF
    Rate per SF
    $25
    Space
    Suite 1500
    Size
    4,486 SF
    Rate per SF
    $25
    Space
    suite 1300
    Size
    15,584 SF
    Rate per SF
    $25
    Space
    suite 1356
    Size
    3,365 SF
    Rate per SF
    $25
    Space
    suite 1515
    Size
    2,556 SF
    Rate per SF
    $25
    Space
    suite 1514
    Size
    309 SF
    Rate per SF
    $25
    Space
    suite 1516
    Size
    413 SF
    Rate per SF
    $25
    Space
    suite 1550
    Size
    15,985 SF
    Rate per SF
    $25
    Space
    suite 2400
    Size
    16,526 SF
    Rate per SF
    $25
    Space
    suite 3300
    Size
    15,762 SF
    Rate per SF
    $25
    Space
    suite 4000
    Size
    8,469 SF
    Rate per SF
    $25
    Space
    Penobscot Building
    Size
    400,000 SF
    Rate per SF
    $25
    Space
    Suite 1350
    Size
    6,419 SF
    Rate per SF
    $25
    Space
    Suite 1308
    Size
    404 SF
    Rate per SF
    $25

    HighLights

    • Iconic Detroit skyline presence, visible from all directions.
    • Stunning Art Deco architecture, inside and out.
    • Up to 685,000 square feet of contiguous space available.
    • Premium rooftop corporate branding opportunity.
    • Prime location in Detroit's central financial district.
    • Blends historic charm with modern interior spaces.
    Property Profile Location Intelligence

    Current Use by Public Records

    Dun-Rite Plumbing & Sewer Plumber Debra A Spicer PC Lawyer Comerica Bank Bank Michael J. Kemnitz ... Attorney Verasoft Software Company

    Suggested Use

    Realty agency Spa & Massage Dental Office Hair Salon Restaurant Nail Salon Building Supply Gym & Fitness Pharmacy Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Detroit
    County
    Wayne
    State
    Michigan
    Longitude
    -83.0474857
    Latitude
    42.3302055

    Nearby Similar for Lease

    • $6,000 /Mo
      3,919 SF

      Former Bank Building on Five Mile

      Prime commercial space in Redford, suitable for various businesses.
      26095 5 Mile Rd, Redford, MI 48239
      View Details
    • $1,600 /Mo
      5,235 SF

      Detroit Retail Space on Livernois

      Three retail spaces available for lease on Livernois Avenue.
      10231 Livernois Ave, Detroit, MI 48204
      View Details
    • $2,000 /Mo
      2,200 SF

      Detroit Retail Space For Rent

      Retail space in high-demand area with national chains nearby.
      15390 Gratiot Ave, Detroit, MI 48205
      View Details
    • $2,500 /Mo
      2,778 SF

      Redford Industrial Building For Rent

      Spacious 2,778 sq ft industrial building on busy intersection.
      25885 8 Mile Rd, Redford, MI 48240
      View Details
    • $5,900 /Mo
      7,020 SF

      Light Industrial Building on 8 Mile

      Warehouse with renovated office, high ceilings, and heavy-duty crane.
      1521 E 8 Mile Rd, Detroit, MI 48220
      View Details
    • New
      $6,000 /Mo
      13,735 SF

      Detroit Industrial/Commercial Space Available

      Versatile industrial/commercial space for rent in Detroit, Michigan.
      9900 Northlawn St, Detroit, MI 48204
      View Details

    FAQs

    What type of property is this?
    Restaurant - Iconic Detroit landmark, 685,000 sqft available
    Where is this restaurant located?
    The property is located at 645 Griswold St Detroit, MI.
    What is the lease rate?
    The lease rate is $25 SF/Yr.
    What are key features of this property?
    This property features: Iconic Detroit skyline presence, visible from all directions.; Stunning Art Deco architecture, inside and out.; Up to 685,000 square feet of contiguous space available.
    Request Owner's contact information
    645 Griswold St Detroit, MI 48226
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    645 Griswold St
    Detroit, MI 48226
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    645 Griswold St Detroit, MI 48226
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.