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    2478 Riopelle St Detroit, MI 48207

    For Sale
    $780,000

    Prime Detroit Kitchen Space, $780,000

    Property size:
    3,900 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    363
    This exceptional mixed-use property at 2478 Riopelle St in Detroit, MI, presents a unique investment opportunity. The 3,900 square foot building, constructed in 1936, boasts a fully approved commercial kitchen complete with freezers, a fryer, and a grill – ideal for a restaurant or food-related business. Recent upgrades include a new HVAC system, roof, and mechanicals, ensuring efficient and cost-effective operation. The building's prime location in the heart of Eastern Market provides unparalleled exposure and proximity to thriving businesses such as the Eastern Market Brewery and Detroit Distillery, guaranteeing high foot traffic and visibility. Beyond the main floor, the property includes a substantial 2,000 square foot basement and a 400 square foot second-floor office space, offering ample storage and additional functional areas. The 0.9-acre lot features two 10' x 12' grade-level doors for convenient loading and unloading. This single-tenant building is offered at $780,000, representing a compelling price per square foot of $200. The property's combination of prime location, modern amenities, and versatile space makes it an attractive investment for discerning buyers seeking a thriving commercial venture in a vibrant Detroit neighborhood. The asking price is $780,000.

    Property Features for 2478 Riopelle St

    General Information

    Property type
    Mixed-use properties
    Square Feet
    3,900 SF
    Lot Size
    39,204 SF

    Building Details

    Year Built
    1936
    Buildings
    1
    Stories
    1

    HighLights

    • 3,900 square feet of available space.
    • Two 10' x 12' grade‑level loading doors.
    • Prime kitchen space in Eastern Market.
    • Fully equipped kitchen with freezers, fryer, and grill.
    • Excellent location near Eastern Market Brewery, Detroit Distillery, and the market.
    • Includes 2,000 sq ft basement and 400 sq ft second‑floor office.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    ARGitct LLC Business Management Consultant Soo Fraiche Grill American Restaurant

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Detroit
    County
    Wayne
    State
    Michigan
    Longitude
    -83.0381905
    Latitude
    42.3465057

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    FAQs

    What type of property is this?
    Mixed-use property - Prime Detroit Kitchen Space, $780,000
    Where is this mixed-use property located?
    The property is located at 2478 Riopelle St Detroit, MI.
    What is the asking price?
    The asking price for this property is $780,000.
    What are key features of this property?
    This property features: 3,900 square feet of available space.; Two 10' x 12' grade-level loading doors.; Prime kitchen space in Eastern Market.
    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
    2478 Riopelle St Detroit, MI 48207
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