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6138 Michigan Ave Detroit, MI 48210-2930

OFF-MARKET Auto shops Google Maps
5,196 SF 0.22 ac lot Built 1895
Individually Owned 1-yr Hold Absentee Owner Free & Clear
Estimated value (blended)
$80k
Range $72k – $88k (±10%)
Property ID US43-0300892

Property summary

AI-generated overview

This stunning, 5,000-square-foot mixed-use building, formerly Ladder 22 firehouse, presents a unique investment opportunity in vibrant Southwest Detroit. Built in 1904 and extensively renovated in 2022, this two-story structure boasts a new roof and framing, ensuring structural integrity. The property, zoned B4, includes a spacious layout ideal for diverse uses. Imagine transforming this historic landmark into a restaurant, entertainment venue, art gallery, boutique hotel, or even a remarkable private residence. The possibilities are endless. Its prime location and included side lot add significant value. The building has been vacant, allowing for immediate occupancy and customization to suit your vision. This is a rare chance to own a piece of Detroit's rich history and capitalize on its exciting future. The asking price is $250,000, reflecting a price per square foot of $50. This represents a compelling investment in a rapidly developing area. Don't miss this exceptional opportunity to acquire a truly one-of-a-kind property.

Property profile

Verified
Property type Auto shops
Use group AUTO REPAIR, GARAGE
Year built 1895
Total area 5,196 SF
Lot 0.22 ac (9,583 SF)
Zoning code B4
APN 16001692.
UPID US43-0300892

Cap rate & NOI

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

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
$80k

Owner & transaction history

since 2024
4 recorded transactions
2024
Price N/A
2014
$55,000
2009
Price N/A
2009
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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