Property profile

3500 2nd Ave Detroit, MI 48201

OFF-MARKET
Retail space
Property ID
US43-1368391
3,867 SF 0.1 ac lot Built 1950
Entity Owned 4-yr Hold Absentee Owner Free & Clear
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Property summary

AI-generated overview

This unique 3,881 square foot retail and office property is situated on the highly visible northeast corner of Second Avenue and Martin Luther King Jr. Boulevard in Detroit, Michigan, zip code 48201. The single-tenant building presents a compelling investment opportunity for a variety of uses. The existing structure offers the flexibility to be retrofitted to suit a specific tenant's needs, expanded to increase square footage, or completely redeveloped to maximize its potential. Its prime location at a major intersection ensures high visibility and accessibility, making it ideal for a business seeking significant foot traffic and brand exposure. The current ownership is actively seeking a tenant who shares a vision for enhancing the surrounding area and contributing positively to the community. This property is a blank canvas for a forward-thinking business looking to establish a strong presence in a vibrant and developing part of Detroit. The property's address is 3500 Second Avenue, Detroit, MI 48201. Serious inquiries are encouraged.

Property profile

Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1950
Total area 3,867 SF
Lot 0.1 ac (4,356 SF)
Zoning code SD2
APN 02002341-2
UPID US43-1368391

Cap rate & NOI

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

Location

3500 2nd Ave Detroit, MI 48201-2306
Detroit metro Census 520300 DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$220k

Owner & transaction history

since 2022
3 recorded transactions
2022
Price N/A
2015
Price N/A
2014
$120,000

Zoning & alternative use

SD2 · Detroit, MI
Zoning description

Transitional-Industrial District. (6) PR Parks and Recreation District. (7) W1 Waterfront-Industrial District. (8) MKT Market and Distribution District. (9) SD1 Special Development District, Small-Scale, Mixed-Use. (10)…

General category MIXED_USE

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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