12305 Dexter Ave Detroit, MI 48206-1015
- Schools
- 27,720 SF
- 0.51 lot acres
Current Use by Public Records
- Robinson William D / Doctor / Counselor
- Kenneth Blue / Addiction Treatment Center
- Dexter Career Center / School
- Kimberly Elyse, PHD / Counselor
Property Details for 12305 Dexter Ave
- Year built
- 1967
- Lot size
- 0.51 lot acres
- Property size
- 27,720 SF
- Zone code
- B4
- Property type
- Schools
- APN
- 14006214-21
- APU
- 1400621421
Description
This exceptional mixed-use property, located at 12305 Dexter Ave, Detroit, MI 48206, presents a compelling redevelopment opportunity in the burgeoning Russell Woods-Sullivan district. The 0.51-acre lot encompasses two three-story buildings totaling 27,720 square feet, offering significant versatility. Originally constructed in 1967 and previously used as a rehabilitation facility, the property boasts existing infrastructure including a fully functional commercial kitchen, walk-in freezers, updated HVAC units, water heaters, and a comprehensive fire suppression system. The buildings have been completely retrofitted. A notable feature is the inclusion of a basketball gym. The property is zoned for commercial use (B4 General Business District) and is situated within a Strategic Neighborhood Fund area and the Russell Woods Development Planning zone, suggesting strong potential for future growth and development. The asking price is $650,000, translating to $23.45 per square foot. This property is ideal for a variety of business ventures or a mixed-use residential/commercial development. The property's size and location make it a prime candidate for significant return on investment.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $240,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $220,000
- 6.5%
- $215,000
- 7%
- $225,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $220,000
- Geo Method
- $225,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $250,000
- Retail
- $205,000
- Mixed-Use
- $225,000
- Hospitality
- $245,000
- Educational
- $255,000
- Residential Income
- $235,000
- Energy
- $235,000
- Income-Based Land
- $245,000
- Food Service
- $210,000
Location Insight
- Map
- Local Demand
- City
- Detroit
- County
- Wayne
- State
- Michigan
- Longitude
- -83.1273
- Latitude
- 42.3838
- CBSA code
- 19820
- CBSA name
- DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
