Property summary
This exceptional investment opportunity encompasses two buildings totaling 15,895 square feet situated on nearly 0.81 acres of land in Southwest Detroit. The main building, located at 6735 Vernor Hwy, boasts 13,539 square feet and underwent a complete renovation in 2022. Previously a cab company headquarters, it features 4-6 repair bays, multiple lifts, an air compressor, and is move-in ready. Its original use as a bowling alley lends itself to diverse possibilities, including a bar, restaurant, banquet hall, or grocery store. The second building, at 2201 Waterman, offers 2,356 square feet and presents a unique opportunity. This former trucking depot can be repurposed as a coffee house, restaurant, or restored to its original use. Both properties benefit from over 100 parking spaces, a rare find in this area. Built in the 1920s-1940s, these buildings are ideally positioned to capitalize on Southwest Detroit's remarkable resurgence. Detroit is experiencing unprecedented growth, with billions of dollars invested in new retail, services, and corporate relocation projects. This surge in corporate activity is driving demand for housing, creating a vibrant live-work-play environment that appeals to a diverse demographic. This property's prime location and versatile spaces offer significant potential for strong returns in a rapidly developing market.
Property profile
VerifiedCap rate & NOI
Location
Value estimations
Owner & transaction history
Zoning & alternative use
ff. 5-28-2005) Sec. 50-7-4. - Industrial Districts. Industrial districts within the City are as follows: (1) M1 Limited Industrial District. (2) M2 Restricted Industrial District. (3) M3 General Industrial District. (4)…
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
M4 · Detroit, MIff. 5-28-2005) Sec. 50-7-4. - Industrial Districts. Industrial districts within the City are as follows: (1) M1 Limited Industrial District. (2) M2 Restricted Industrial District. (3) M3 General Industrial District. (4)…
Zoning
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Zoning designation
Official district profile
ff. 5-28-2005) Sec. 50-7-4. - Industrial Districts. Industrial districts within the City are as follows: (1) M1 Limited Industrial District. (2) M2 Restricted Industrial District. (3) M3 General Industrial District. (4)…
What can be built and operated here — officially.
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