541 Lafayette St Detroit, MI 48226
- Specialty properties
- 13,983 SF
Current Use by Public Records
- Specialty properties
Property Details for 541 Lafayette St
- Property size
- 13,983 SF
- Property type
- Specialty properties
- Property subtype
- Lifestyle centers
Description
This exceptional investment opportunity presents a 13,983-square-foot parking lot strategically located in Detroit's central business district. The property boasts 48 parking spaces and is ideally situated adjacent to the successful Doubletree Suites Hotel. Its prime location offers unparalleled convenience and accessibility, placing it within walking distance of the TCF Convention Center and close proximity to public transportation. The property's central location also provides easy access to numerous downtown amenities, including Campus Martius and Hart Plaza. This well-positioned asset presents a compelling investment opportunity for those seeking a high-demand parking facility in a thriving urban core. The asking price for this retail, land, and special-purpose property is $4,550,000. The property is classified as a shopping center and parking lot, offering significant potential for future development or continued operation as a high-yield parking facility. Its proximity to major attractions and transportation hubs ensures consistent demand and strong rental potential. This is a rare opportunity to acquire a well-established parking lot in a rapidly growing area of 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
- -83.0532
- Latitude
- 42.3291
