20263 Hoover St Detroit, MI 48205
- Warehouses
- 57,932 SF
- 5.07 lot acres
Current Use by Public Records
- Warehouses
Property Details for 20263 Hoover St
- Year built
- 1953
- Lot size
- 5.07 lot acres
- Property size
- 57,932 SF
- Property type
- Warehouses
- APN
- 17013847.
- APU
- 17013847
Description
This exceptional 69,022-square-foot industrial property, located at 20263 Hoover Street in Detroit, Michigan, presents a compelling investment opportunity. The single-story building, constructed in 1953 and extensively renovated in 2019, sits on a 5.07-acre lot (APN 17013847) and boasts a desirable industrial zoning designation. The warehouse features 18-foot ceiling heights, four grade-level dock-high doors, and four 5-ton cranes, making it ideal for various industrial uses. Currently, two-thirds of the space is leased to a machinery storage tenant. The property also includes separate grow facilities with significant expansion potential, allowing for a doubling of production capacity. Further enhancing its appeal are rail access, heavy power, and a large fenced and paved parking area. The asking price is $5,050,000, translating to $73.17 per square foot. This property offers a unique blend of existing income and significant upside potential for future growth. The property's strategic location in Wayne County, with easy access to transportation infrastructure, adds to its overall value.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Detroit
- County
- Wayne
- State
- Michigan
- Longitude
- -83.0064
- Latitude
- 42.446
- CBSA code
- 19820
- CBSA name
- DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
