Property profile

645 Griswold St Detroit, MI 48226

OFF-MARKET
Retail properties & Spaces
1,149,710 SF Built 1928
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Property summary

AI-generated overview

The Penobscot Building, a 47-story landmark in downtown Detroit (645 Griswold St, 48226), offers a unique opportunity for businesses seeking prestigious office space. Built in 1928, this iconic structure boasts 1,149,710 square feet across three buildings, situated on a 1.07-acre lot. Currently, 685,000 contiguous square feet are vacant, divisible into spaces as small as 1,500 square feet. The building features twelve high-speed elevators, a stunning four-story entrance archway, and meticulously preserved museum-quality decorations. Office suites range from small executive spaces to full floors (13,000 - 30,000 square feet), adaptable to both traditional and contemporary designs. Tenants benefit from on-site retail, restaurants, and convenient services, along with professional on-site management and maintenance. The Penobscot Building serves as a fiber-optic hub for the Detroit area, ensuring superior telecommunications. Security includes trained ambassadors and a sophisticated video monitoring system. Ample parking is available in nearby structures. The building's location in the heart of Detroit's revitalized business, cultural, sports, and entertainment districts provides unparalleled access and visibility. Zoned DDA Detroit in Wayne County, this property presents an exceptional full-service office environment with a rich history and a bright future.

Property profile

Verified
Property type Retail properties & Spaces
Year built 1928
Total area 1,149,710 SF

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Plumbing Service General Contractor
  • Law Firm
  • Bank Loan Service
  • Law Firm
  • (Bike/Boat/Book/etc) Store Corporate Office

Location

645 Griswold St Detroit, MI 48226
Detroit metro
Google Maps

Value estimations

Realmo proprietary · 4 methods
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Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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