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    Specialty properties

    3500 John R St, Detroit, MI 48201

    24,000 SF 0.72 ac lot
    Property ID
    Property summary
    AI-generated overview

    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.

    Property profile
    Verified
    Property type Specialty properties
    Total area 24,000 SF
    Lot 0.72 ac (31,363 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
    Value estimations
    Realmo proprietary · 4 methods
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    Owner & transaction history
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    Zoning & alternative use
    Permitted uses
    Permitted uses
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