2903 Trumbull StDetroit, MI 48216

Property Details for 2903 Trumbull St

Year built

1900

Lot size

0.26 AC

Property size (Sq ft)

1,950 SF

Zone code

R4

Property type

Retail properties

Property subtype

Other individual retail properties

APN

08005934-6

APU

80059346

Description

This exceptional 1,950 square foot retail property, located at 2903 Trumbull Street in Detroit, Michigan, presents a unique investment opportunity. Situated on a 0.4-acre lot, this single-story, 1999-built building boasts a prime North Corktown location, directly across from the Motor City Casino & Hotel. The property benefits from its hard corner location within the thriving Corktown Development Zone, offering excellent visibility and accessibility. Zoned R4, this space provides flexibility for a variety of retail uses. The asking price is $795,000, translating to $407.69 per square foot. Convenient access to major thoroughfares, including I-75 and the Lodge Freeway, ensures easy commutes for both employees and customers. This property represents a compelling investment in a rapidly developing area of Detroit, offering significant potential for growth and return. The building's size and location make it ideal for a variety of retail businesses seeking a high-traffic, high-visibility location in a revitalized neighborhood. This is a rare opportunity to acquire a well-situated retail space in one of Detroit's most dynamic and up-and-coming areas. The property's 1999 construction date suggests a relatively modern building, minimizing potential maintenance needs.

• CAP approach

  CAP return

  Valuation

  6%

  $596,190

  6.5%

  $550,329

  7%

  $511,020

• Comparable approach

  Method

  Valuation

  Relative Method

  $459,656

  Geo Method

  $459,656

• Alternative Use

  Use

  Valuation

  Residential

  $464,223

  Hospitality

  $425,226

  Educational

  $353,783

  Medical

  $365,950

  Retail

  $550,329

Location Insight

City

Detroit

County

Wayne

State

Michigan

Latitude

42.3379

Longitude

-83.0711

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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