Property summary
This Class A, 158,787 square foot retail building, situated on 1.25 acres in Detroit's Midtown, offers a unique investment opportunity. Built in 1996 and meticulously maintained, including a 2019 lobby renovation, the five-story building boasts modern, efficient floor plates, allowing for maximum leasing or redevelopment flexibility. The property features high-end finishes and an inspired appearance, with excellent proximity to amenities, including the Q-Line light rail, freeways, and bus routes. The location offers access to education, entertainment, medical services, theater, arts, and dining, further enhanced by its proximity to the Detroit Symphony Orchestra, Little Caesars Arena, and a Whole Foods Market. Currently nearly vacant, this "blank-slate" opportunity allows for creative uses, including office, medical office leasing, or conversion to residential or multi-story retail. The building includes two separate DTE electrical feeds for power redundancy and 540 connected, covered parking spaces (3.3 spaces per 1000 square feet). A tenant on the fifth floor may consider early lease termination to accommodate future users or redevelopment. The second, third, and fourth floors are available for lease in their entirety, while the ground floor offers a mix of office and retail leasing opportunities. Located at 3663 Woodward Avenue, Wayne County, MI 48201, this unpriced asset presents a distinctive investment in a thriving district.
Property profile
VerifiedCap rate & NOI
Current use
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Physician
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College
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Physician
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General Contractor
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Physician
Location
Value estimations
Owner & transaction history
Zoning & alternative use
District. (5) M5 Special Industrial District. (Code 1984, § 61-7-4; Ord. No. 11-05, § 1(61-7-4), eff. 5-28-2005) Sec. 50-7-5. - Special districts. Special districts and overlay areas within the City are as follows: (1) P…
Comparables
6 recent transactions · within 1.5 miComparable in this City
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Value estimation
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Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
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Price sensitivity
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Property tax & assessments
Tax year 2020Property description
Physical attributes from public recordsZoning & alternative use
PD · Detroit, MIDistrict. (5) M5 Special Industrial District. (Code 1984, § 61-7-4; Ord. No. 11-05, § 1(61-7-4), eff. 5-28-2005) Sec. 50-7-5. - Special districts. Special districts and overlay areas within the City are as follows: (1) P…
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Official district profile
District. (5) M5 Special Industrial District. (Code 1984, § 61-7-4; Ord. No. 11-05, § 1(61-7-4), eff. 5-28-2005) Sec. 50-7-5. - Special districts. Special districts and overlay areas within the City are as follows: (1) P…
What can be built and operated here — officially.
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- Property Ownership
- Basic report summary
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- Value Estimation
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- Ownership
- Zoning
- Property Insight Report
- Value Estimation
- Cap Rate Calculation
- Location Intelligence
- Business Placement
- Ownership
- Zoning