80-92 Willis St Detroit, MI 48201
- Mixed-use properties
- 4,533 SF
- 0.40 lot acres
Current Use by Public Records
- Mixed-use properties
Property Details for 80-92 Willis St
- Year built
- 1916
- Lot size
- 0.40 lot acres
- Property size
- 4,533 SF
- Property type
- Mixed-use properties
- Property subtype
- Land
Description
This exceptional 0.4-acre mixed-use development site in Midtown Detroit presents a compelling investment opportunity. Located at 80-92 E Willis, this vacant property boasts an R6 zoning designation, permitting high-density residential construction with a potential buildable area of up to 50,000 square feet. The site comprises three buildings, totaling 4,533 square feet, built in 1916, across two lots (APN 01-001045 and 01-001046). Utilities including water, sewer, electric, and gas are readily available. The property's prime location offers unparalleled access to a vibrant urban environment, situated a half-block from Woodward Avenue, directly across from the Detroit Medical Center and Children's Hospital of Michigan. Proximity to Wayne State University (24,000 students), Little Caesars Arena, and a concentration of 30,627 daytime employees within a one-mile radius, ensures a robust potential tenant pool. The surrounding area is rich with restaurants, retail, and entertainment venues, including the Majestic Theater, making this a highly desirable location for various developments, including multi-family, mixed-use, student housing, assisted living, childcare, nursing homes, lofts, or townhouses. The asking price is $1,750,000, representing a land value of $4,375,000 per acre. This is a truly unique chance to capitalize on the growth and potential of Midtown Detroit.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Detroit
- County
- Wayne
- State
- Michigan
- Longitude
- -83.0593
- Latitude
- 42.352
