Property profile

3536 Michigan Ave Detroit, MI 48216

OFF-MARKET
Bars & Pubs
Property ID
US43-0324690
918 SF 0.02 ac lot Built 1941
Entity Owned 1-yr Hold Absentee Owner Free & Clear
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Property summary

AI-generated overview

This vacant, 915-square-foot retail building, located at 3536 Michigan Ave in Detroit, Michigan, presents a unique investment opportunity. Built in 1941 and extensively renovated in 2022, the property boasts a new roof and updated electrical systems, ready for immediate occupancy. The single-story building sits on a 1,000-square-foot lot and is zoned B4. Its prime location in Detroit's vibrant Corktown neighborhood places it within close proximity to numerous high-profile businesses and attractions, including Ford Motor Company, Michigan Central Station, the new Detroit City FC stadium, and a variety of popular restaurants and shops. The property's single-tenant occupancy and Net NNN lease type offer straightforward ownership. The asking price is $175,000. The property's APN is 12-000362. This is an exceptional chance to acquire a well-maintained, updated building in a rapidly developing area with significant growth potential. The building's proximity to major employers and entertainment venues makes it an attractive proposition for a variety of businesses.

Property profile

Verified
Property type Bars & Pubs
Use group BAR, TAVERN
Year built 1941
Total area 918 SF
Lot 0.02 ac (871 SF)
Zoning code B4
APN 12000362.
UPID US43-0324690

Cap rate & NOI

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

Location

3536 Michigan Ave Detroit, MI 48216-1007
Detroit metro Census 522800 DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
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Value estimations

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Owner & transaction history

since 2024
Last sale
$170,063
2 recorded transactions
2024
$170,063
2020
$40,000

Zoning & alternative use

B4 · Detroit, MI
Zoning description

), eff. 5-28-2005) Sec. 50-7-3. - Business Districts. Business districts within the City are as follows: (1) B1 Restricted Business District. (2) B2 Local Business and Residential District. (3) B3 Shopping District. (4)…

General category COMMERCIAL

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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