Property profile

5300 8th Mile Rd Detroit, MI 48234

OFF-MARKET
Bars & Pubs
Property ID
US43-0954870
2,000 SF 0.08 ac lot Built 1960
Individually Owned 12-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This 2,000-square-foot former church building in Detroit, Michigan, is available for $149,000 ($74.50/sq ft). The property boasts a recently completed renovation and is currently tax-exempt. Ideal for adaptive reuse, the building features a seating capacity of 80-90, making it suitable for a variety of uses. Amenities include a newer furnace and central air conditioning system for year-round comfort. Additional features include two restrooms, a private pastor's study, and a small kitchen/dining area. Constructed of brick and block, this versatile space offers significant potential for entrepreneurs and investors seeking a unique commercial property in a prime Detroit location. The building's address is 5300 E 8 Mile Rd, Detroit, MI 48234, within Wayne County. Its current tax-exempt status presents a significant financial advantage. The existing infrastructure, including the HVAC system, kitchen, and study, provides a solid foundation for various business ventures.

Property profile

Verified
Property type Bars & Pubs
Use group BAR, TAVERN
Year built 1960
Total area 2,000 SF
Lot 0.08 ac (3,485 SF)
Zoning code B4
APN 13015839.
UPID US43-0954870

Cap rate & NOI

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

Current use

Occupant on record · Public records
  • Church
  • Church Mosque

Location

5300 8th Mile Rd Detroit, MI 48234-1121
Detroit metro Census 506700 DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
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Comparable Approach Comparable
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Blend (final) Blend
$185k

Owner & transaction history

since 2014
3 recorded transactions
2014
$25,000
2010
Price N/A
2009
$15,400

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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