Property summary
This exceptional commercial property, located at 1842 Michigan Avenue, presents a unique opportunity in the vibrant Corktown neighborhood. Situated on a 0.3-acre lot at the northeast corner of Michigan and Rosa Parks Avenues, this two-story building offers a total of 7,395 square feet of space, currently entirely vacant and ready for immediate occupancy. The building boasts a flexible layout, with a minimum divisible space of 3,057 square feet and a maximum contiguous space of 4,338 square feet, making it ideal for a variety of retail uses. The property includes 18 parking spaces, a significant advantage in this high-demand area. The building's zoning is B4 & SD-2, allowing for diverse commercial applications. Its proximity to Ford's Michigan Central Station provides exceptional visibility and accessibility. Built in 1890, this property offers a blend of historic charm and modern potential, presenting a rare opportunity to establish a thriving business in a rapidly developing neighborhood. The sale includes the entire 0.3-acre lot, extending behind the building onto Kaline. This prime location and substantial space make this property an exceptional investment opportunity.
Property profile
VerifiedCap rate & NOI
Current use
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(Bike/Boat/Book/etc) Store
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Consultant
Location
Value estimations
Owner & transaction history
Zoning & alternative use
), eff. 5-28-2005) Sec. 50-7-3. - Business Districts. Business districts within the City are as follows: (1) B1 Restricted Business District. (2) B2 Local Business and Residential District. (3) B3 Shopping District. (4)…
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
B4 · Detroit, MI), eff. 5-28-2005) Sec. 50-7-3. - Business Districts. Business districts within the City are as follows: (1) B1 Restricted Business District. (2) B2 Local Business and Residential District. (3) B3 Shopping District. (4)…
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Official district profile
), eff. 5-28-2005) Sec. 50-7-3. - Business Districts. Business districts within the City are as follows: (1) B1 Restricted Business District. (2) B2 Local Business and Residential District. (3) B3 Shopping District. (4)…
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for B4 in Detroit, MI.
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