Property summary
The property is a single building in Detroit, Michigan, containing approximately 2,340 square feet of space and situated on a lot of about 0.09 acres. It was formerly operated as a dry cleaner and has been reconfigured into a spacious event hall. The building is zoned for mixed-use and is configured to support uses such as hospitality/entertainment venues (e.g., bar/lounge or cigar/hookah bar), a coffee shop, studio space, or retail. Interior features include new LVP flooring throughout, ceiling fans, mini-split heating and air conditioning units, and two restrooms. A break area is located at the rear of the building. Documented building systems and exterior improvements include a furnace installed about one year prior, a hot water tank installed about one year prior, and a roof with an estimated age of about eight years. The offering includes an adjacent lot that provides additional space and/or parking potential.
Property profile
VerifiedCap rate & NOI
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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