Property summary
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
VerifiedCap rate & NOI
Current use
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Business Management Consultant
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Restaurant
Value estimations
Owner & transaction history
Zoning & alternative use
-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)…
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 2023Property description
Physical attributes from public recordsZoning & alternative use
M3 · Detroit, MI-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)…
Zoning
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Zoning designation
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The district profile from the municipal source: what is on file for M3 in Detroit, MI.
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