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Property profile

2478 Riopelle St Detroit, MI 48207

OFF-MARKET
Refrigerated & Cold Storage
Property ID
US43-0970300
View Sample
3,900 SF 0.09 ac lot Built 1936
Entity Owned 5-yr Hold Absentee Owner Free & Clear

Property summary

AI-generated overview

This exceptional 4,200 square foot mixed-use commercial property at 2478 Riopelle St, Detroit, MI 48207, is situated on a 0.9-acre lot and boasts a prime location in the heart of Eastern Market. Built in 1936, this single-story building features a fully approved kitchen, complete with freezers, a fryer, and a grill – ideal for a food-related business. Recent upgrades include a new HVAC system, roof, and mechanicals, ensuring efficient and cost-effective operation. The property includes a significant 3,900 square feet of vacant space ready for immediate occupancy. In addition to the main floor, there is a substantial 2,000 square foot basement area and a 400 square foot second-floor office space, offering versatile options for expansion or additional functionality. The property is zoned MKT and benefits from its proximity to the Eastern Market Brewery, Detroit Distillery, and the bustling Eastern Market itself, ensuring high visibility and foot traffic. This presents a unique opportunity for a variety of businesses seeking a well-equipped space in a vibrant and established commercial district. The cross street is Gratiot Ave, offering convenient access to major thoroughfares. This is a single-tenant property in Wayne County.

Property profile

Verified
Property type Refrigerated & Cold Storage
Use group COLD STORAGE
Year built 1936
Total area 3,900 SF
Lot 0.09 ac (3,920 SF)
Zoning code M3
APN 07001966.
UPID US43-0970300

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Business Management Consultant
  • Restaurant

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$275k

Owner & transaction history

since 2021
Last sale
$250,000
3 recorded transactions
2021
$250,000
2021
Price N/A
1969
Price N/A

Zoning & alternative use

M3 · Detroit, MI
Zoning description

-7-3; Ord. No. 11-05, § 1(61-7-3), eff. 5-28-2005) Sec. 50-7-4. - Industrial Districts. Industrial districts within the City are as follows: (1) M1 Limited Industrial District. (2) M2 Restricted Industrial District. (3)…

General category INDUSTRIAL

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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