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    7430 2Nd Ave Detroit, MI 48202

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    For Lease
    Contact for pricing

    Iconic Detroit location, luxury retail suites.

    Lot size:
    320,000 SF

    Property Features for 7430 2Nd Ave

    General Information

    Property type
    Retail properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    320,000 SF
    Class
    A
    Total Rate
    586666.67

    Building Details

    Year Built/Renovated
    2022/2022
    Buildings
    1
    Stories
    11

    Spaces For Lease

    at 7430 2Nd Ave, Detroit, MI 48202 Contact us
    Unit Retail Suite B

    $22 /Mo

    Size
    23,908 SF
    Contact us
    Unit Retail Suite A

    $22 /Mo

    Size
    11,729 SF
    Contact us

    We can help!

    Listing Contact
    Vincent Mazzola
    Vincent Mazzola

    Listing Agency: O'Connor Real Estate Listing Agent: Vincent Mazzola

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    The Kahn, a meticulously renovated Class A retail building (320,000 total square feet) at 7430 Second Street, offers unparalleled opportunities for discerning businesses. Originally designed by renowned architect Albert Kahn and formerly home to Saks Fifth Avenue, this 11-story, single building boasts 16-foot ceilings, expansive retail frontage, and suites ranging from a minimum of 977 square feet to a maximum contiguous space of 35,637 square feet. Located in Wayne County (APN 02-001135), with a B2 zoning designation, this property benefits from its prime location near 2nd Avenue and Lothrop Street, offering excellent walkability and convenient access to major highways. The building features modern elevators and ample on-site parking, making it an ideal location for a variety of retail concepts, from high-end fashion houses and fine dining establishments to boutique retailers. The building's historic significance, its impressive architecture (including martini column architecture), and its convenient amenities create a unique and desirable retail environment. A basement tunnel presents a unique opportunity for a creative tenant. This is a rare chance to secure space in a landmark Detroit building with a rich history and a bright future. Built in 1931 and renovated in 2022, The Kahn is listed on the National Register of Historic Places.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    The Kahn Apartment Building The Residences of AK - Luxury ... Apartment Building Michigan Global Development, ... Property Management Company Bobby Lee, MD Physician National Storage Storage Facility

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store 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
    -83.0769482
    Latitude
    42.3708924

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    FAQs

    What type of property is this?
    Retail property - Iconic Detroit location, luxury retail suites.
    Where is this retail property located?
    The property is located at 7430 2Nd Ave Detroit, MI.
    What is the lease rate?
    The lease rate is $22 SF/Yr.
    What are key features of this property?
    This property features: Prestigious former Saks Fifth Avenue location.; Excellent walkability in a vibrant neighborhood.; Impressive 16-foot ceiling heights.
    (313) 704-2678 Call to check price and availability
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    7430 2Nd Ave Detroit, MI 48202
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    Detroit, MI 48202
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    7430 2Nd Ave Detroit, MI 48202
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    Contact for Pricing
    Please call us for current price
    and status of this listing Vincent Mazzola
    Vincent Mazzola
    (313) 704-2678 (313) 963-9891
    Learn more
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