422 Congress StDetroit, MI 48226

Property Details for 422 Congress St

Year built

1923

Lot size

0.13 AC

Property size (Sq ft)

22,048 SF

Zone code

PCA

Property type

Retail properties

Property subtype

Turn key restaurants

APN

02000154.

APU

2000154

Description

This exceptional freestanding retail property, located at 422 W Congress St in the heart of Downtown Detroit, offers a substantial 4,800 square feet of vacant space, perfect for a single tenant seeking a high-visibility location. Situated in Wayne County, Michigan, this property presents a unique opportunity for businesses looking to establish a strong presence in a vibrant urban core. The building's single-tenant occupancy ensures complete control and flexibility for the new occupant. The address, 422 W Congress St, provides excellent street frontage and accessibility, benefiting from high pedestrian and vehicular traffic. The property's classification as a freestanding retail building offers distinct advantages, including ample parking and independent branding opportunities. This is an ideal location for a variety of retail businesses seeking a prominent position within Detroit's dynamic downtown area. The zip code is 48226. The property's latitude and longitude coordinates are 42.3284285 and -83.0506947 respectively. The total building square footage is not currently available. This presents a rare chance to secure a significant retail space in a rapidly developing urban environment. Serious inquiries are encouraged to explore this compelling investment opportunity.

• CAP approach

  CAP return

  Valuation

  6%

  $5,830,657

  6.5%

  $5,382,145

  7%

  $4,997,706

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,197,172

  Geo Method

  $5,197,172

• Alternative Use

  Use

  Valuation

  Residential

  $4,540,040

  Hospitality

  $4,158,653

  Educational

  $3,459,950

  Medical

  $3,578,944

  Retail

  $5,382,145

Location Insight

City

Detroit

County

Wayne

State

Michigan

Latitude

42.3284

Longitude

-83.0507

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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