Property summary
This exceptional 6,550 sq ft, Class A property, built in 1952 and renovated in 2019, is situated on a 0.55-acre lot in Detroit, MI, at 10435 Joy Road (zip code 48204). Currently operating as a 100% occupied banquet hall, it boasts a versatile layout easily adaptable for retail or office use. The single-story building features a 20-foot ceiling height, 30 parking spaces, and three new 7-ton HVAC units. Its prime location on Joy Road offers high visibility and accessibility. The property is zoned for commercial and multiple uses, presenting a unique opportunity for owner-users or investors. The spacious interior, ideal for large gatherings, includes a lounging area, dance floor, and DJ booth. With its expansive footprint and flexible design, this property offers significant potential for customization and expansion, making it an attractive investment in Detroit's growing commercial market. The asking price is $195,000 ($29.77/sq ft). The APN is W18I005129C40.
Property profile
VerifiedCap rate & NOI
Current use
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Wedding Service
Location
Value estimations
Owner & transaction history
Zoning & alternative use
ity Residential District. (Code 1984, § 61-7-2; Ord. No. 11-05, § 1(61-7-2), eff. 5-28-2005) Sec. 50-7-3. - Business Districts. Business districts within the City are as follows: (1) B1 Restricted Business District. (2)…
Comparables
6 recent transactions · within 1.5 miComparable in this City
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Value estimation
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Cap rate
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Price sensitivity
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Property tax & assessments
Tax year 2020Property description
Physical attributes from public recordsZoning & alternative use
B2 · Detroit, MIity Residential District. (Code 1984, § 61-7-2; Ord. No. 11-05, § 1(61-7-2), eff. 5-28-2005) Sec. 50-7-3. - Business Districts. Business districts within the City are as follows: (1) B1 Restricted Business District. (2)…
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Official district profile
ity Residential District. (Code 1984, § 61-7-2; Ord. No. 11-05, § 1(61-7-2), eff. 5-28-2005) Sec. 50-7-3. - Business Districts. Business districts within the City are as follows: (1) B1 Restricted Business District. (2)…
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for B2 in Detroit, MI.
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