Property profile

607 Shelby St Detroit, MI 48226

OFF-MARKET
Retail properties & Spaces
6,400 SF
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Property summary

AI-generated overview

This exceptional 6,400 square foot restaurant space, located at 607 Shelby St, Detroit, MI 48226, presents a unique acquisition opportunity in the heart of the Central Business District. Situated on the hard corner of Shelby and Congress Streets, this three-level property boasts a prime location with high visibility. The space is comprised of 3,600 square feet of ground and first-floor dining area, complemented by a stunning 2,000 square foot second-floor "Skybridge" dining area offering breathtaking views overlooking Shelby Street. An additional 800 square feet of fully utilized basement storage provides ample space for inventory and supplies. The property underwent renovations in 2022 and includes an elevator for convenient access to all three levels. The building is currently vacant, offering a blank canvas for a new culinary venture. A 10-year lease with three 5-year renewal options, commencing September 2021, is in place, providing a potential contract term of 22 years. The acquisition price is $1,200,000. This is an unparalleled opportunity to establish a thriving restaurant business in one of Detroit's most desirable locations.

Property profile

Verified
Property type Retail properties & Spaces
Total area 6,400 SF

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Clothing Store
  • Business Management Consultant
  • Law Firm
  • (Bike/Boat/Book/etc) Store Corporate Office
  • Bar & Pub Nightclub

Location

607 Shelby St Detroit, MI 48226
Detroit metro
Google Maps

Value estimations

Realmo proprietary · 4 methods
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Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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