3442 Mcdougall St Detroit, MI 48207
For Sale
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This unique three-story, 4,686 square foot Class B creative office building, located at 3442 McDougall Street in Detroit, Michigan's McDougall-Hunt neighborhood, is available for purchase at $385,000 ($82.16/SF). Built in 1903, this property served as the former headquarters of the renowned Heidelberg Project. The building features multiple offices and classrooms, and a significant advantage is its inclusion of a fully equipped commercial kitchen on the lower level. Convenient on-site parking is available in a rear lot. The property sits on a 0.1-acre lot and is currently vacant. Its prime location is just one block from Gratiot Avenue and in close proximity to the Eastern Market District, offering easy access to numerous amenities and businesses. Nearby establishments include St. Vincent de Paul Society, Louisiana Gumbo, Liberal Arts Gallery, Joe Porters Mens Wear, Barber Station Detroit, Atlas Plumbing, and Hunt Street Station. This modified multi-tenancy building presents a compelling investment opportunity for a creative business or developer seeking a unique and historically significant property in a vibrant Detroit neighborhood. The building offers a blend of historical charm and modern functionality, making it ideal for a variety of uses. The asking price reflects the property's size, location, and unique features, presenting a strong value proposition for the right buyer.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
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Property description
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Costs & Benchmarks
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Risks
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