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    1341 Springwells St Detroit, MI 48209

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    Detroit Restaurant/Bar, 9,472 SF

    Property size:
    9,472 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 9,472-square-foot commercial property, located at 1341 Springwells Street in Detroit, Michigan, presents a unique investment opportunity. Formerly housing Vince's Italian Restaurant, this vacant building sits on a 0.49-acre lot and boasts 40+ off-street parking spaces within a gated area. The property features a single-story building constructed in 1971, zoned B4 General Business District, offering significant potential for various commercial uses or redevelopment. Its prime location in southwest Detroit provides easy access to major expressways and downtown, benefiting from a high-density residential neighborhood and proximity to the Gordie Howe International Bridge. The property includes two parcels: 20005579-83 and 20005584. A Class C liquor license is available. Seller financing is also an option. This property's strategic location within a rapidly developing area makes it an attractive investment for both owner-users and developers. The substantial lot size and existing building provide ample space for a variety of commercial ventures. The property's history as a successful restaurant further underscores its potential for continued success. Additional adjacent parcels are also available for purchase, expanding the potential scope of this investment. These include vacant lots and a storage building, offering further development opportunities. This is a rare chance to acquire a significant commercial property in a thriving Detroit neighborhood.

    Property Features for 1341 Springwells St

    General Information

    Property type
    Individual retail properties
    Square Feet
    9,472 SF
    Lot Size
    21,344 SF

    Building Details

    Year Built
    1971
    Buildings
    1
    Stories
    1
    Units
    1

    HighLights

    • Former Vince's Italian Restaurant, 9,472 SF building on a 0.49‑acre lot.
    • 204' of Springwells Street frontage with B4 General Business zoning.
    • 40+ gated, off‑street parking spaces.
    • Suitable for commercial users or redevelopment.
    • Located in desirable Southwest Detroit, near expressways and downtown.
    • High‑density residential neighborhood and proximity to the Gordie Howe International Bridge.
    Property Profile Location Intelligence

    Current Use by Public Records

    Vince's Italian Restaurant Italian Restaurant

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store 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
    -83.122449356621
    Latitude
    42.304813176022

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    FAQs

    What type of property is this?
    Individual retail property - Detroit Restaurant/Bar, 9,472 SF
    Where is this individual retail property located?
    The property is located at 1341 Springwells St Detroit, MI.
    What are key features of this property?
    This property features: Former Vince's Italian Restaurant, 9,472 SF building on a 0.49-acre lot.; 204' of Springwells Street frontage with B4 General Business zoning.; 40+ gated, off-street parking spaces.
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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
    1341 Springwells St Detroit, MI 48209
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