Individually Owned Property summary
Discover a unique redevelopment opportunity in Detroit's vibrant Poletown neighborhood. This 8,000 square foot, two-story brick building, constructed in 1923, offers a compelling blend of commercial and residential space. The ground floor presents a fantastic storefront opportunity, ideal for a variety of retail ventures. Upstairs, three spacious apartments provide immediate rental income potential. The property is zoned R3, allowing for flexibility in future development plans. Located just minutes from Midtown, this property boasts a prime location with significant upside. The building is being sold "AS IS, BATVAI," and a waiver is required for property tours. The anticipated occupancy date is November 7, 2024. This is a rare chance to acquire a multi-use property in a rapidly developing area of Detroit, offering substantial returns for the right investor. The property's size and zoning provide ample room for creative redevelopment strategies, catering to a range of business and residential needs. Don't miss this chance to capitalize on the growth potential of this exciting Detroit location.
Property profile
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Location
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Owner & transaction history
Zoning & alternative use
No. 11-05, § 1(61-7-1), eff. 5-28-2005) Sec. 50-7-2. - Residential Districts. Residential districts within the City are as follows: (1) R1 Single-Family Residential District. (2) R2 Two-Family Residential District. (3) R…
Comparables
6 recent transactions · within 1.5 miComparable in this City
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Value estimation
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Cap rate
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Price sensitivity
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Property tax & assessments
Tax year 2020Property description
Physical attributes from public recordsZoning & alternative use
R3 · Detroit, MINo. 11-05, § 1(61-7-1), eff. 5-28-2005) Sec. 50-7-2. - Residential Districts. Residential districts within the City are as follows: (1) R1 Single-Family Residential District. (2) R2 Two-Family Residential District. (3) R…
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Official district profile
No. 11-05, § 1(61-7-1), eff. 5-28-2005) Sec. 50-7-2. - Residential Districts. Residential districts within the City are as follows: (1) R1 Single-Family Residential District. (2) R2 Two-Family Residential District. (3) R…
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for R3 in Detroit, MI.
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