3031 Grand BlvdDetroit, MI 48202

Property Details for 3031 Grand Blvd

Year built

1980

Lot size

3.84 AC

Property size (Sq ft)

523,155 SF

Zone code

B5

Property type

Office properties

Property subtype

Office buildings

APN

02001098-101

APU

2001098101

Description

This prestigious Class A office building, New Center One, located at 3031 W Grand Blvd in Detroit, Michigan's Central Business District, offers 608,823 square feet of space across eight stories. Built in 1982 and renovated in 2020, the property features 19 available suites ranging from 371 to 29,507 square feet, with a minimum divisible space of 29,507 square feet. The building boasts 12-foot ceilings to the grid and 18-foot ceilings to the deck, providing ample space and flexibility. Amenities include access to retail stores, banks, daycare, a food court, and a building conference room. With 3500 total parking spaces, including both surface and covered parking, ample parking is readily available. The building is conveniently located near the QLINE station, offering easy access to the CBD, and is within walking distance of Wayne State University and Henry Ford Hospital. Its prime location in the New Center and Northern Midtown Detroit submarket provides excellent walkability (Walk Score of 94), transit access (Transit Score of 55), and bikeability (Bike Score of 89). The property sits on 3.85 acres and includes seven elevators and one freight elevator, along with a sprinkler system. Its proximity to other notable buildings such as the Fisher Building, Cadillac Place, and the Hotel St. Regis further enhances its desirability. The building's zoning is DOWNTOWN DETROIT | CENTRAL BUSINESS DISTRICT (Wayne County, APN 02-001098-101). This is a unique opportunity to secure office space in a highly sought-after location.

• CAP approach

  CAP return

  Valuation

  6%

  $108,808,600

  6.5%

  $100,438,712

  7%

  $93,264,512

• Comparable approach

  Method

  Valuation

  Relative Method

  $48,935,920

  Geo Method

  $48,935,920

• Alternative Use

  Use

  Valuation

  Residential

  $124,544,000

  Hospitality

  $114,081,632

  Educational

  $94,914,584

  Medical

  $98,178,840

  Retail

  $147,644,896

Location Insight

City

Detroit

County

Wayne

State

Michigan

Latitude

42.3703

Longitude

-83.0759

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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