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Property profile

3100 Jefferson Ave Detroit, MI 48207

Office buildings
Property ID
US43-1019410
View Sample
15,200 SF 0.51 ac lot Built 1974
Entity Owned 10-yr Hold Absentee Owner Free & Clear

Property summary

AI-generated overview

This exceptional investment opportunity presents a 17,500 square foot, single-story school building situated on a half-acre lot in Detroit, Michigan. Built in 1978, the property is currently occupied and boasts a prime location on East Jefferson Avenue in the Rivertown Warehouse District, minutes from downtown Detroit. The building sits within a thriving area with a population of 65,000 residents within a three-mile radius. Zoned for commercial use, this property offers ample space for various educational purposes and benefits from modern infrastructure and facilities. The asking price is $2,200,000. This well-maintained building presents a strong investment opportunity due to its location, size, and current occupancy. The property's strategic positioning on a major thoroughfare provides excellent visibility and accessibility. This is a rare chance to acquire a substantial, established school building in a desirable Detroit neighborhood. The property's history as a successful school adds to its appeal and potential for continued use in the education sector or repurposing for other commercial ventures.

Property profile

Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 1974
Total area 15,200 SF
Lot 0.51 ac (22,216 SF)
Zoning code SD4
APN 13000134-5
UPID US43-1019410

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
  • Military Recruiting Office
  • High School

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$1.47M
Blend (final) Blend
$295k

Owner & transaction history

since 2016
2 recorded transactions
2016
Price N/A
2016
Price N/A

Zoning & alternative use

SD4 · Detroit, MI
Zoning description

Recreation District. (7) W1 Waterfront-Industrial District. (8) MKT Market and Distribution District. (9) SD1 Special Development District, Small-Scale, Mixed-Use. (10) SD2 Special Development District, Mixed-Use. (11) S…

General category MIXED_USE
Top alternative use upside
Commercial (general) $1.4M +48.1%
Restaurant $1.4M +48.0%
Neighborhood: shopping center $1.2M +22.9%

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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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