3500 John R St, Detroit, MI 48201
This exceptional 24,000 square foot property presents a unique redevelopment opportunity in Detroit, Michigan. Situated on a 0.72-acre lot at 3500 John R St, in the heart of the New Center area, this two-story building offers significant potential for adaptive reuse. Previously used as Capstone Academy, the structure boasts 31 individual rooms, each plumbed with a toilet, offering versatile layout options for a variety of uses. Beyond the main building, the property includes an additional below-grade floor, a two-story basketball court, and an outdoor recreational area. A fully secured parking field further enhances the property's functionality. The strategic location provides immediate proximity to key amenities, including Wayne State University, a newly constructed Whole Foods Market, and Little Caesars Arena, ensuring high visibility and accessibility. This substantial property offers a rare chance to capitalize on Detroit's revitalization, transforming a unique building into a thriving commercial or residential space. The existing infrastructure, including plumbing in each room, provides a solid foundation for a variety of redevelopment projects. The ample outdoor space and secured parking add significant value to this already impressive offering. This is a truly exceptional opportunity for an investor seeking a high-impact project in a rapidly growing area.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.