1307 Broadway StDetroit, MI 48226

Property Details for 1307 Broadway St

Year built

1910

Lot size

0.08 AC

Property size (Sq ft)

14,300 SF

Zone code

B5

Property type

Retail space

APN

01004035.

APU

1004035

Description

This fee-simple, 14,300 square foot office building at 1307 Broadway St, Detroit, MI 48226, presents a compelling value-add investment opportunity. Built in 1910, the Class C property offers creative, executive, and traditional office space, currently available for occupancy on October 24, 2023. The asking price is $2,240,000 ($156.64/sq ft). The building boasts frontage on Broadway Avenue and "The Belt" alleyway, placing it in the heart of Downtown Detroit's Arts District. Its exceptional location offers incredible branding opportunities and unparalleled access to major attractions. Within walking distance are Campus Martius, Little Caesars Arena, Comerica Park, Ford Field, the Detroit Opera House, Fox Theatre, and the Fillmore Theatre. Nearby are the Shinola and Element Hotels, and the Q Line. The high-traffic location (10,581 vehicles per day on Broadway Street) and proximity to two major universities (Wayne State and Detroit Mercy), along with numerous Fortune 500 companies headquartered in Michigan, ensures strong tenant demand. This property offers a unique blend of historical charm and modern potential in a thriving urban environment.

• CAP approach

  CAP return

  Valuation

  6%

  $3,781,676

  6.5%

  $3,490,778

  7%

  $3,241,437

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,370,808

  Geo Method

  $3,370,808

• Alternative Use

  Use

  Valuation

  Residential

  $2,944,602

  Hospitality

  $2,697,240

  Educational

  $2,244,072

  Medical

  $2,321,249

  Retail

  $3,490,778

Location Insight

City

Detroit

County

Wayne

State

Michigan

Latitude

42.3346

Longitude

-83.046

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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