1842 Michigan AveDetroit, MI 48216

Property Details for 1842 Michigan Ave

Year built

1895

Lot size

0.14 AC

Property size (Sq ft)

6,981 SF

Zone code

B4

Property type

Office properties

Property subtype

Office buildings

APN

08000556.

APU

8000556

Description

This exceptional commercial property, located at 1842 Michigan Avenue, presents a unique opportunity in the vibrant Corktown neighborhood. Situated on a 0.3-acre lot at the northeast corner of Michigan and Rosa Parks Avenues, this two-story building offers a total of 7,395 square feet of space, currently entirely vacant and ready for immediate occupancy. The building boasts a flexible layout, with a minimum divisible space of 3,057 square feet and a maximum contiguous space of 4,338 square feet, making it ideal for a variety of retail uses. The property includes 18 parking spaces, a significant advantage in this high-demand area. The building's zoning is B4 & SD-2, allowing for diverse commercial applications. Its proximity to Ford's Michigan Central Station provides exceptional visibility and accessibility. Built in 1890, this property offers a blend of historic charm and modern potential, presenting a rare opportunity to establish a thriving business in a rapidly developing neighborhood. The sale includes the entire 0.3-acre lot, extending behind the building onto Kaline. This prime location and substantial space make this property an exceptional investment opportunity.

• CAP approach

  CAP return

  Valuation

  6%

  $1,345,782

  6.5%

  $1,242,261

  7%

  $1,153,528

• Comparable approach

  Method

  Valuation

  Relative Method

  $653,003

  Geo Method

  $653,003

• Alternative Use

  Use

  Valuation

  Residential

  $1,540,403

  Hospitality

  $1,411,001

  Educational

  $1,173,936

  Medical

  $1,214,310

  Retail

  $1,826,123

Location Insight

City

Detroit

County

Wayne

State

Michigan

Latitude

42.3317

Longitude

-83.0714

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at support@realmo.com and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at support@realmo.com.