Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    2348 Michigan Ave Detroit, MI 48216

    Sponsored
    For Sale
    Contact for pricing

    Prime Detroit location, 500,000 SF potential.

    Property size:
    500,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    396
    This exceptional mixed-use development opportunity sits on approximately 1.44 acres spanning two city blocks in the vibrant Corktown neighborhood of Detroit, Michigan. Located at 2348 Michigan Avenue, this Class A property boasts a prime location directly across from Ford's Michigan Central Station, benefiting from the significant revitalization and investment currently transforming the area. The proposed development encompasses a total of approximately 500,000 square feet of net rentable space, strategically divided to maximize potential returns. This includes an estimated 115,000 square feet of residential space, catering to the growing demand for urban living

    Property Features for 2348 Michigan Ave

    General Information

    Property type
    Mixed-use properties
    Square Feet
    500,000 SF
    Class
    A

    HighLights

    • 1.44‑acre mixed‑use development site in Detroit's Corktown neighborhood.
    • Prime location across from Ford's Michigan Central Station in a rapidly revitalizing area.
    • Proposed 500,000 square feet of net rentable space.
    • Development includes approximately 115,000 SF of residential, 70,000 SF of office/co‑working, 100,000 SF of retail/restaurant, and 150,000 SF of hospitality space.
    • Proposed 400‑space parking structure.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    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
    -83.078633808074
    Latitude
    42.3313010941

    Nearby Similar for Sale

    • $4,500,000
      48,336 SF

      Detroit Multifamily Investment Opportunity

      Sixty-unit apartment complex near Dearborn, MI, with Section 8 tenants.
      15860 Joy Rd, Detroit, MI 48228
      View Details
    • $4,500,000
      36,221 SF

      Detroit Multifamily Investment Opportunity

      Sixty-unit multifamily property in Detroit's Oakman Boulevard neighborhood.
      15860 Joy Rd, Detroit, MI 48228
      View Details
    • New
      $389,900
      4,468 SF

      Established Auto Repair Shop Opportunity

      Well-equipped auto shop with high visibility and strong upside.
      13118 Gratiot Ave, Detroit, MI 48205
      View Details
    • New
      $1,890,900
      24,912 SF

      Detroit Investment Property Package

      Portfolio of 20 residential properties in Detroit, Michigan.
      326 Eastlawn St, Detroit, MI 48215
      View Details
    • $425,000
      6,616 SF

      Farwell Commercial/Industrial Property For Sale

      Office, business center, and bay garages in Farwell, Michigan.
      2655 W Ludington Dr, Farwell, MI 48622
      View Details
    • $345,000
      0.12 Acres

      Detroit Duplex in Boston-Edison

      Well-maintained duplex with strong rental potential in Historic Boston-Edison.
      1665 Atkinson St, Detroit, MI 48206
      View Details
    • $1,499,000
      3,800 SF

      Turn-Key Dispensary on Large Lot

      Fully licensed dispensary with drive-thru and ample parking for sale.
      5540 E Eight Mile Rd E, Detroit, MI 48091
      View Details
    • $139,999
      3,304 SF

      Detroit Duplex Near Historic District

      Partially remodeled duplex with spacious units near Boston-Edison.
      2051 Calvert St, Detroit, MI 48206
      View Details
    • $399,999
      3,904 SF

      Detroit Multi-Use Investment Opportunity

      Versatile property near downtown Detroit with multi-family conversion potential.
      491 E Grand Blvd, Detroit, MI 48207
      View Details
    • $399,999
      3,990 SF

      Detroit Multi-Use Investment Opportunity

      Versatile property near downtown Detroit with multi-family conversion potential.
      491 E Grand Blvd, Detroit, MI 48207
      View Details
    • $269,900
      1,580 SF

      Remodeled Multi-Family Property with Bonus Home

      Multi-family property with separate bonus home near Downtown Detroit.
      15478 Northlawn St, Detroit, MI 48238
      View Details
    • $250,000
      3,536 SF

      Detroit Bar and Real Estate

      Combined bar establishment with apartment in Detroit's Warrendale district.
      19430 W Warren Ave, Detroit, MI 48228
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Prime Detroit location, 500,000 SF potential.
    Where is this mixed-use property located?
    The property is located at 2348 Michigan Ave Detroit, MI.
    What are key features of this property?
    This property features: 1.44-acre mixed-use development site in Detroit's Corktown neighborhood.; Prime location across from Ford's Michigan Central Station in a rapidly revitalizing area.; Proposed 500,000 square feet of net rentable space.
    Request Owner's contact information
    2348 Michigan Ave Detroit, MI 48216
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2348 Michigan Ave
    Detroit, MI 48216
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    2348 Michigan Ave Detroit, MI 48216
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.