Property profile

5961 14th St Detroit, MI 48208

OFF-MARKET
Other specialty properties
Property ID
US43-0893450
31,441 SF 0.27 ac lot Built 1924
Entity Owned 6-yr Hold Free & Clear
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Property summary

AI-generated overview

The property is located in Detroit’s NW Goldberg neighborhood and consists of a historic landmark building at 5961 14th Street (formerly known as Finn Hall) plus 13 additional parcels. The landmark building is a 31,441-square-foot, three-story structure that has had substantial structural and system upgrades, including a replaced roof, new windows, new steel beams, new subflooring, and upgraded electrical. The interior had been gutted and the building is configured as a redevelopable shell suitable for redevelopment into mixed-use, residential, community, or commercial uses. The combined parcels total approximately 1.47 acres and are situated along 14th Street, 15th Street, and McGraw, providing land area that can support parking, outdoor amenities, and/or future expansion. The site is positioned near the Motown Museum area, Henry Ford Hospital’s campus, the Detroit Pistons facility, and the Dreamtroit + Lincoln Street Art Park.

Property profile

Verified
Property type Other specialty properties
Use group CHARITABLE ORGANIZATION
Year built 1924
Total area 31,441 SF
Lot 0.27 ac (11,761 SF)
Zoning code B4
APN 10005119.
UPID US43-0893450

Cap rate & NOI

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

Location

5961 14th St Detroit, MI 48208-1608
Detroit metro Census 522300 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
$637k
Blend (final) Blend
$635k

Owner & transaction history

since 2020
6 recorded transactions
2020
Price N/A
2017
Price N/A
2016
Price N/A
2013
$4,995
2012
$710
2011
Price N/A

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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