5961 14Th StDetroit, MI 48208

Property Details for 5961 14Th St

Year built

1924

Lot size

0.27 AC

Property size (Sq ft)

31,441 SF

Zone code

B4

Property type

Specialty properties

APN

10005119.

APU

10005119

Description

This exceptional 30,555-square-foot retail space at 5961 14th Street in Detroit, Michigan, presents a unique investment opportunity. Located in Wayne County (APN 10-005119), this single-tenant building offers unparalleled flexibility thanks to its flexible zoning. Originally constructed in 1920, the property underwent a complete renovation in 2019, ensuring modern amenities and functionality within a historically significant structure. The building boasts three stories, providing ample space for a variety of retail uses. The entire 30,555 square feet is currently vacant, presenting a blank canvas for a prospective tenant to customize to their specific needs. The property's prime location in Detroit, Michigan, zip code 48208, offers excellent visibility and accessibility. This is an exceptional opportunity to acquire a substantial retail property in a thriving urban area, ready for immediate occupancy. The building's recent renovation ensures modern systems and infrastructure are in place, minimizing upfront capital expenditures. The flexible zoning allows for a wide range of potential uses, maximizing the property's versatility and potential return on investment. This is a rare chance to secure a large, renovated retail space in a desirable Detroit location.

• CAP approach

  CAP return

  Valuation

  6%

  $7,411,170

  6.5%

  $6,841,080

  7%

  $6,352,430

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,940,990

  Geo Method

  $2,940,990

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $12,895,200

  Retail / Commercial

  $6,724,820

  Mixed-Use / Specialty

  $6,789,290

  Hospitality / Lodging

  $5,096,240

  Office

  $6,841,080

  Institutional / Educational

  $7,089,740

  Residential Income

  $8,294,990

  Multifamily

  $9,458,230

  Automotive / Energy

  $6,076,920

  Parking / Income-Based Land

  $2,009,690

  Restaurant / Food Service

  $3,719,930

  Healthcare / Senior Housing

  $6,871,590

Location Insight

City

Detroit

County

Wayne

State

Michigan

Latitude

42.3576

Longitude

-83.0918

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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