Current Use by Public Records
- Warehouses
Property Details for 545 Milwaukee Ave
- Year built
- 1946
- Lot size
- 0.07 lot acres
- Property type
- Warehouses
- Property subtype
- Life science properties
Description
This exceptional 2,550-square-foot industrial property, located at 545 E Milwaukee Ave in Detroit, Michigan, presents a compelling investment opportunity. Built in 1946 and extensively renovated in 2023, this single-story building boasts a desirable flex space configuration suitable for various industrial and research & development uses. The property features a 13.4-foot clear ceiling height, one 10 x 14-foot overhead dock high door, and ample 400-amp power, ensuring operational efficiency. The M3 zoning allows for a wide range of permitted uses. Situated on a 0.07-acre lot, the property includes two parking spaces, offering convenient access for employees and clients. Its strategic location provides quick access to I-75, a significant advantage for logistics and transportation. Furthermore, the surrounding area is experiencing significant growth, with nearby developments including an EV battery plant, a 400-unit mixed-use development, and a 161-unit loft complex, indicating a vibrant and expanding neighborhood. The property is currently vacant, presenting an immediate opportunity for owner-users to establish their operations in a prime Detroit location. The asking price is $500,000, translating to $196.08 per square foot. This represents a strong value proposition given the property's recent renovations, strategic location, and the potential for future appreciation in a rapidly developing area. The walkable neighborhood offers numerous restaurants and bars, adding to the overall appeal of this exceptional industrial property.
Value Estimations
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AI approach
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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
- -83.0657
- Latitude
- 42.3719
