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Property profile & analytics
OFF-MARKET Estimated value $745,000
Commercial real estate

1224 Randolph St Detroit, MI 48226-2247

4,400 SF Built 1929
Entity Owned Absentee Owner Free & Clear
Property ID
US43-4207931
Property summary
AI-generated overview

This exceptional 6,300-square-foot retail or restaurant space is located at 1224 Randolph Street in the heart of Detroit, Michigan. The property, situated on a 0.05-acre lot (APN 01-003928), boasts a charming two-story building constructed in 1929 and extensively renovated in 2013. The building is zoned B-4, offering flexibility for a variety of commercial uses. Currently vacant, the entire 6,300 square feet is available for immediate occupancy. The property's previous use as a restaurant/bar is reflected in the existing commercial kitchen equipment, including a hood system, pizza oven, and coolers, all remaining in place. This presents a unique opportunity for a seamless transition into a similar operation or adaptation for another commercial venture. The property's prime downtown location offers significant potential for outdoor seating, with the possibility of developing a patio area. This single-tenant building presents a rare opportunity to acquire a well-maintained, historically significant property in a thriving Detroit neighborhood. The property is located in Wayne County, Michigan, with a zip code of 48226. The building's excellent condition and existing infrastructure make it an attractive investment for a discerning buyer.

Property profile
Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Year built 1929
Total area 4,400 SF
APN 23012012.001R
UPID US43-4207931
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Great Lakes Burger & Pizza Bar Restaurant
  • Giordano's Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$747k
Blend (final) Blend
$745k
Owner & transaction history
GIODET LLC
GIODET LLC
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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