3730 Buchanan St Detroit, MI 48208
- Retail space
- 6,934 SF
- 0.29 lot acres
Current Use by Public Records
- Retail space
Property Details for 3730 Buchanan St
- Year built
- 1922
- Lot size
- 0.29 lot acres
- Property size
- 6,934 SF
- Zone code
- B2
- Property type
- Retail space
- APN
- 14008575.
- APU
- 14008575
Description
This vacant, 7,000-square-foot storefront at 3730 Buchanan Street in Detroit, Michigan, presents a unique investment opportunity. Located in Wayne County, zip code 48208, this single-story, mixed-use building sits on a 0.29-acre lot and offers significant potential for redevelopment. Currently vacant, the property is available for immediate occupancy, with a projected occupancy date of April 25, 2024. The building previously housed the well-known Jimmy's Soul Food restaurant. The asking price is $130,000, translating to $18.57 per square foot. The property features ample parking with 20 spaces available. Zoned B2, this building allows for a variety of uses, including but not limited to restaurants, party stores, or event spaces. While requiring rehabilitation, the building's structure is sound, offering a solid foundation for a future owner/user. The property is classified as distressed and is sold under standard ownership. The parcel number is 20240021599. This is a rare chance to own the only commercial building on its block in the Chadsey Condon neighborhood. The property is currently listed as vacant and has a net operating income (NOI) of $0. The pro-forma NOI is also $0.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Detroit
- County
- Wayne
- State
- Michigan
- Longitude
- -83.1009
- Latitude
- 42.3402
- CBSA code
- 19820
- CBSA name
- DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
