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    450 Fort St Detroit, MI 48226

    Sponsored
    For Sale
    $3,510,000

    Historic Detroit building, 17,901 SF, 100% occupied.

    Property size:
    17,901 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional mixed-use building, located at 450 W Fort St, Detroit, MI 48226, presents a compelling investment opportunity. The 17,901 square foot property, built in 1927, boasts a prime location in Detroit's urban core, offering 63 feet of frontage on Fort Street. Currently operating at 100% occupancy with four tenants, including an anchor bar that has occupied the space since 1959, this Fee Simple offering provides a stable income stream. The property is classified as Class C and features a Net Lease (NNN) structure. The pro-forma Net Operating Income (NOI) is $346,380, resulting in a pro-forma cap rate of 9.87%. The asking price is $3,510,000, translating to a price per square foot of $196.08. The building includes a ground floor with restaurant and storefront spaces, a second-floor office area, and lower-level storage. Its convenient location places it within walking distance of numerous Detroit landmarks, including Campus Martius, corporate office buildings, Hart Plaza, Comerica Park, Ford Field, and the Fox Theatre. Proximity to the Q Line and major national retailers further enhances its appeal. This move-in ready property offers a blend of historic charm and modern convenience, making it an attractive investment for discerning buyers.

    Property Features for 450 Fort St

    General Information

    Property type
    Individual retail properties
    Square Feet
    17,901 SF
    Class
    C

    Building Details

    Year Built
    1927

    HighLights

    • Anchor tenant, Bar, occupies space since 1959.
    • Move‑in ready 2nd floor office space available.
    • Lower‑level storage included.
    • Excellent walkability to downtown Detroit landmarks including Campus Martius, major office buildings, and entertainment venues.
    • Convenient access to Q Line and national retailers.
    • 63‑foot frontage on Fort Street.
    Property Profile Location Intelligence

    Current Use by Public Records

    National Lawyers Guild-Detroit Non-Profit Organization ATM Atm ICONIC Real Estate Commercial Real Estate Agency Anchor Bar Bar Davis Hugh M Attorney

    Suggested Use

    Realty agency Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Pharmacy 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
    -83.0514984
    Latitude
    42.3289757

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    FAQs

    What type of property is this?
    Individual retail property - Historic Detroit building, 17,901 SF, 100% occupied.
    Where is this individual retail property located?
    The property is located at 450 Fort St Detroit, MI.
    What is the asking price?
    The asking price for this property is $3,510,000.
    What are key features of this property?
    This property features: Anchor tenant, Bar, occupies space since 1959.; Move-in ready 2nd floor office space available.; Lower-level storage included.
    Request Owner's contact information
    450 Fort St Detroit, MI 48226
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    Detroit, MI 48226
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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
    450 Fort St Detroit, MI 48226
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