2600 Grand Blvd Detroit, MI 48211
- Warehouses
- 83,075 SF
- 1.61 lot acres
Current Use by Public Records
- Caramagno Foods / Wholesaler
Property Details for 2600 Grand Blvd
- Year built
- 1934
- Lot size
- 1.61 lot acres
- Property size
- 83,075 SF
- Zone code
- M4
- Property type
- Warehouses
- APN
- 07001901-2
- APU
- 70019012
Description
This exceptional 73,000 square foot industrial building, located at 2600 E Grand Blvd in Detroit, Michigan, presents a unique investment opportunity. Situated on a 1.61-acre lot in the vibrant Milwaukee Junction area, this two-story structure boasts a rich history, having served various industrial purposes since its construction in 1934. Currently vacant, the property offers significant potential for redevelopment. The building features 12-foot ceilings and two loading docks, making it suitable for a variety of uses. Importantly, this property has received city approval for operation as both a Marijuana Grower Facility (MGF) and a Marijuana Processing Facility (MPF), opening doors to a lucrative and expanding market. Zoned M4, the property's versatility extends beyond its approved uses, presenting opportunities for mixed-use development. The asking price is $2,750,000, translating to $37.67 per square foot. This NNN lease property is an excellent investment in a rapidly developing area, offering substantial returns for the discerning buyer. The property's location within an Opportunity Zone further enhances its investment appeal. This is a rare chance to acquire a large-scale industrial property with significant upside potential in a prime Detroit location. The property's history includes use by the American Wood Grain Co. and the Peschke Meat Packing Co. This building is ready for its next chapter.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $2,330,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $2,755,000
- 6.5%
- $2,455,000
- 7%
- $2,650,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $2,425,000
- Geo Method
- $2,095,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $2,205,000
- Retail
- $2,755,000
- Mixed-Use
- $2,480,000
- Hospitality
- $2,480,000
- Educational
- $2,695,000
- Residential Income
- $2,095,000
- Energy
- $2,600,000
- Income-Based Land
- $2,165,000
- Food Service
- $2,460,000
Location Insight
- Map
- Local Demand
- City
- Detroit
- County
- Wayne
- State
- Michigan
- Longitude
- -83.0568
- Latitude
- 42.377
- CBSA code
- 19820
- CBSA name
- DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
