2478 Riopelle St Detroit, MI 48207
- Refrigerated & Cold Storages
- 3,900 SF
- 0.09 lot acres
Current Use by Public Records
- ARGitct LLC / Business Management Consultant
- Soo Fraiche Grill / American Restaurant
Property Details for 2478 Riopelle St
- Year built
- 1936
- Lot size
- 0.09 lot acres
- Property size
- 3,900 SF
- Zone code
- M3
- Property type
- Refrigerated & Cold Storages
- APN
- 07001966.
- APU
- 7001966
Description
This exceptional 4,200 square foot mixed-use commercial property at 2478 Riopelle St, Detroit, MI 48207, is situated on a 0.9-acre lot and boasts a prime location in the heart of Eastern Market. Built in 1936, this single-story building features a fully approved kitchen, complete with freezers, a fryer, and a grill – ideal for a food-related business. Recent upgrades include a new HVAC system, roof, and mechanicals, ensuring efficient and cost-effective operation. The property includes a significant 3,900 square feet of vacant space ready for immediate occupancy. In addition to the main floor, there is a substantial 2,000 square foot basement area and a 400 square foot second-floor office space, offering versatile options for expansion or additional functionality. The property is zoned MKT and benefits from its proximity to the Eastern Market Brewery, Detroit Distillery, and the bustling Eastern Market itself, ensuring high visibility and foot traffic. This presents a unique opportunity for a variety of businesses seeking a well-equipped space in a vibrant and established commercial district. The cross street is Gratiot Ave, offering convenient access to major thoroughfares. This is a single-tenant property in Wayne County.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $275,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $355,000
- 6.5%
- $350,000
- 7%
- $355,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $280,000
- Geo Method
- $285,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $285,000
- Retail
- $280,000
- Mixed-Use
- $305,000
- Hospitality
- $350,000
- Educational
- $310,000
- Residential Income
- $325,000
- Energy
- $280,000
- Income-Based Land
- $375,000
- Food Service
- $370,000
Location Insight
- Map
- Local Demand
- City
- Detroit
- County
- Wayne
- State
- Michigan
- Longitude
- -83.0382
- Latitude
- 42.3465
- CBSA code
- 19820
- CBSA name
- DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
