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Property profile & analytics
OFF-MARKET
Theaters & concert halls
12719 Gratiot Ave, Detroit, MI 48205-3943
Entity Owned
11-yr Hold
Absentee Owner
Free & Clear
Property ID
US43-0416170
Property summary
AI-generated overview
This exceptional 4983-square-foot warehouse, located at 12719 Gratiot Ave in Detroit, Michigan, presents a unique investment opportunity. Originally constructed in 1925 and opening as the Franklin Theater in 1926, later becoming the Guild Theater, this historic building is steeped in Detroit's rich past. Currently available for lease, the property is situated in Wayne County, within the 48205 zip code. The building is classified as retail and industrial, with a single-tenant occupancy. It is a significant piece of Detroit's history and is in need of a complete renovation. This presents a compelling opportunity for developers or investors seeking to restore and repurpose a landmark property. The building's substantial size and prime location offer considerable potential for a variety of uses following a comprehensive refurbishment. The property is also available for sale. Interested parties are encouraged to explore the possibilities this unique Detroit landmark offers.
Property profile
Verified
Property type
Theaters & concert halls
Use group
THEATER (MOVIE)
Year built
1925
Total area
2,672 SF
Lot
0.11 ac (4,792 SF)
Zoning code
B4
APN
21028964.
UPID
US43-0416170
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Knr Holdings LLC · 11 yrs held
Knr Holdings LLC
since 2014
4 recorded transactions
Zoning & alternative use
B4 · Detroit, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Detroit submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Detroit submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2020Property tax & assessments
Tax year 2020
Tax billed
$615
Tax year 2020
Assessed value
$47,100
Assessed 2024
Previous assessed
$39,900
+18.0% YoY
Effective rate
1.31%
On assessed value
Total market value
$94,200
Applied tax rate
82,010.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Theaters & concert halls
Use group
THEATER (MOVIE)
Status
Off-Market
Year built
1925
Heating
FORCED AIR
Buildings
1
Stories
1
Total area
2,672 SF
Lot
0.11 ac (4,792 SF)
Zoning code
B4
APN
21028964.
UPID
US43-0416170
Jurisdiction
WAYNE
Metro division
DETROIT-LIVONIA-DEARBORN, MI METROPOLITAN DIVISION
Zoning & alternative use
B4 · Detroit, MI
Zoning B4 · permitted uses
B4 · Detroit, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Detroit. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1925
Heating
FORCED AIR
Stories
1
Buildings
1
Lot
0.11 ac
Current owner
From public records · entity-resolved
Knr Holdings LLC
Entity
Free & Clear · 11 yrs held
Mailing address
12400 E WARREN AVE, DETROIT, MI 48215-2053
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 11, 2014
$24,222
Knr Holdings LLC
Treasurer Of Charter Cnty/wayne M
Quit Claim Deed
related
—
Nov 7, 2014
—
Treasurer Of Wayne County
Owner Name Unavailable
Tax Deed
related
—
Nov 18, 2011
$2,900
Si Housing Dev LLC
Treasurer Of Charter Cnty/wayne M
Quit Claim Deed
related
—
Sep 16, 2011
—
Treasurer Of Wayne County
Owner Name Unavailable
Tax Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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