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    OFF-MARKET
    Retail properties & Spaces

    645 Griswold St, Detroit, MI 48226

    1,149,710 SF Built 1928
    Property ID
    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
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Current use
    Occupant on record · Public records
    • Dun-Rite Plumbing & Sewer Plumbing Service General Contractor
    • Debra A Spicer PC Law Firm
    • Comerica Bank Bank Loan Service
    • Michael J. Kemnitz PC Law Firm
    • Verasoft (Bike/Boat/Book/etc) Store Corporate Office
    Value estimations
    Realmo proprietary · 4 methods
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    Blend (final) Blend
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    Owner & transaction history
    Owner on record
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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