613 Abbott StDetroit, MI 48226

Property Details for 613 Abbott St

Year built

1989

Lot size

0.60 AC

Property size (Sq ft)

75,345 SF

Zone code

B5

Property type

Office buildings

APN

04000204-6

APU

40002046

Description

This exceptional six-story Class B office building, located in Detroit's central business district (CBD) at 613 Abbott St, offers a variety of executive office suites. The property boasts a total of 82,200 square feet, with flexible space options ranging from a minimum of 1,604 square feet to a maximum contiguous space of 27,188 square feet. Currently, there are 28,792 square feet of vacant space available for lease. Built in 1989, the building sits on a 0.6-acre lot and features generous window lines throughout. The property is undergoing planned upgrades to common areas and amenities by the new ownership, Time Equities, Inc. These improvements will enhance the already impressive features, including an on-site amphitheater, cafeteria, and conference room. The building also presents a unique opportunity for prominent building signage. The property is ideally suited for businesses seeking a prestigious address in the heart of Detroit's vibrant downtown core, offering multiple tenancy options. This is a rare opportunity to secure high-quality office space in a prime location with significant potential for growth and visibility. The property's central location provides easy access to major transportation routes and a wealth of amenities. The minimum divisible space is 1,604 square feet, making it suitable for a range of business sizes.

• CAP approach

  CAP return

  Valuation

  6%

  $13,554,559

  6.5%

  $12,511,901

  7%

  $11,618,194

• Comparable approach

  Method

  Valuation

  Relative Method

  $7,047,772

  Geo Method

  $7,047,772

• Alternative Use

  Use

  Valuation

  Residential

  $15,514,757

  Hospitality

  $14,211,434

  Educational

  $11,823,746

  Medical

  $12,230,383

  Retail

  $18,392,494

Location Insight

City

Detroit

County

Wayne

State

Michigan

Latitude

42.3303

Longitude

-83.0555

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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