7430 2Nd AveDetroit, MI 48202

Property Details for 7430 2Nd Ave

Year built

1932

Lot size

1.27 AC

Property size (Sq ft)

232,667 SF

Zone code

B2

Property type

Office buildings

APN

02001104-14

APU

200110414

Description

The Kahn, a meticulously renovated Class A retail building (320,000 total square feet) at 7430 Second Street, offers unparalleled opportunities for discerning businesses. Originally designed by renowned architect Albert Kahn and formerly home to Saks Fifth Avenue, this 11-story, single building boasts 16-foot ceilings, expansive retail frontage, and suites ranging from a minimum of 977 square feet to a maximum contiguous space of 35,637 square feet. Located in Wayne County (APN 02-001135), with a B2 zoning designation, this property benefits from its prime location near 2nd Avenue and Lothrop Street, offering excellent walkability and convenient access to major highways. The building features modern elevators and ample on-site parking, making it an ideal location for a variety of retail concepts, from high-end fashion houses and fine dining establishments to boutique retailers. The building's historic significance, its impressive architecture (including martini column architecture), and its convenient amenities create a unique and desirable retail environment. A basement tunnel presents a unique opportunity for a creative tenant. This is a rare chance to secure space in a landmark Detroit building with a rich history and a bright future. Built in 1931 and renovated in 2022, The Kahn is listed on the National Register of Historic Places.

• CAP approach

  CAP return

  Valuation

  6%

  $48,391,340

  6.5%

  $44,668,928

  7%

  $41,478,292

• Comparable approach

  Method

  Valuation

  Relative Method

  $21,763,672

  Geo Method

  $21,763,672

• Alternative Use

  Use

  Valuation

  Residential

  $55,389,472

  Hospitality

  $50,736,456

  Educational

  $42,212,136

  Medical

  $43,663,876

  Retail

  $65,663,324

Location Insight

City

Detroit

County

Wayne

State

Michigan

Latitude

42.371

Longitude

-83.077

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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