3401 Riopelle St Detroit, MI 48207-2020
- Turn key restaurants
- 5,603 SF
- 0.11 lot acres
Current Use by Public Records
- Amore da Roma / Catering Food And Drink Supplier / Cocktail Bar
Property Details for 3401 Riopelle St
- Year built
- 1918
- Lot size
- 0.11 lot acres
- Property size
- 5,603 SF
- Zone code
- M3
- Property type
- Turn key restaurants
- APN
- 07002266.
- APU
- 7002266
Description
This exceptional mixed-use property at 3401 Riopelle Street in Detroit, Michigan, presents a unique investment opportunity. The 5,603 square foot building, constructed in 1918 and renovated in 2017, sits on approximately 0.70 acres across two parcels (APN: 07-002266, 07-002265, 07-002241-64, 07-001975-7, 07-001974, 07-001973, 07-001972). Currently operating as a retail space with approximately three years remaining on the existing lease, this property offers significant redevelopment potential. The property boasts approximately 40 parking spaces plus street parking. Its prime location in Eastern Market places it adjacent to key developments like Mosaic Eastern Market, Marrow Detroit Provisions, and Measure Brewing Company. The MKT (Market and Distribution) zoning, combining B-6 (general services) and M-3 (general industrial) uses, allows for mixed-use development, including residential and retail options. The asking price is $2,000,000, translating to $356.95 per square foot. This is a chance to acquire a piece of Detroit history with substantial upside potential. The property's size and location make it an attractive investment for both seasoned developers and those seeking a unique, high-growth opportunity in a thriving urban core. The property's history as the Rome Cafe since 1890 adds to its character and appeal.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Detroit
- County
- Wayne
- State
- Michigan
- Longitude
- -83.0418
- Latitude
- 42.3509
- CBSA code
- 19820
- CBSA name
- DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
