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    3101 Franklin St Detroit, MI 48207

    Sponsored
    For Sale
    $450,000

    Prime Detroit location, development opportunity.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    397
    This exceptional commercial land offering encompasses three parcels totaling 9,000 square feet, strategically located at 3101, 3105, and 3113 Franklin Avenue in Detroit, Michigan, zip code 48207, within Wayne County. The property is zoned for commercial use, presenting a versatile canvas for a wide range of development projects. Its ample space allows for visionary land utilization, capitalizing on the robust growth and opportunities within the Detroit area. The site benefits from its proximity to downtown Detroit and a substantial population base, with over 63,000 residents residing within a three-mile radius. This presents a prime opportunity for transformative development ventures, aligning with diverse investment goals and visions. The asking price for this exceptional property is $450,000. This is an ideal investment for those seeking to capitalize on the burgeoning Detroit market and create a lucrative venture.

    Property Features for 3101 Franklin St

    General Information

    Property type
    Land

    HighLights

    • 9,000 SF combined lot at 3101, 3105, and 3113 Franklin Avenue.
    • Minutes from Downtown Detroit.
    • Versatile development potential.
    • Large lot size ideal for significant development.
    • Over 63,000 residents within a 3‑mile radius.
    • Prime development opportunity.
    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 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
    -83.01695
    Latitude
    42.339204

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    FAQs

    What type of property is this?
    Land - Prime Detroit location, development opportunity.
    Where is this land located?
    The property is located at 3101 Franklin 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: 9,000 SF combined lot at 3101, 3105, and 3113 Franklin Avenue.; Minutes from Downtown Detroit.; Versatile development potential.
    (248) 833-6601
    Request Owner's contact information
    3101 Franklin St Detroit, MI 48207
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    Detroit, MI 48207
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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
    3101 Franklin St Detroit, MI 48207
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