5000 Mcdougall StDetroit, MI 48211

Property Details for 5000 Mcdougall St

Year built

1923

Lot size

0.07 AC

Property size (Sq ft)

5,108 SF

Zone code

R3

Property type

Retail space

APN

13010895.

APU

13010895

Description

Discover a unique redevelopment opportunity in Detroit's vibrant Poletown neighborhood. This 8,000 square foot, two-story brick building, constructed in 1923, offers a compelling blend of commercial and residential space. The ground floor presents a fantastic storefront opportunity, ideal for a variety of retail ventures. Upstairs, three spacious apartments provide immediate rental income potential. The property is zoned R3, allowing for flexibility in future development plans. Located just minutes from Midtown, this property boasts a prime location with significant upside. The building is being sold "AS IS, BATVAI," and a waiver is required for property tours. The anticipated occupancy date is November 7, 2024. This is a rare chance to acquire a multi-use property in a rapidly developing area of Detroit, offering substantial returns for the right investor. The property's size and zoning provide ample room for creative redevelopment strategies, catering to a range of business and residential needs. Don't miss this chance to capitalize on the growth potential of this exciting Detroit location.

• CAP approach

  CAP return

  Valuation

  6%

  $1,561,712

  6.5%

  $1,441,581

  7%

  $1,338,611

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,204,062

  Geo Method

  $1,204,062

• Alternative Use

  Use

  Valuation

  Residential

  $1,216,027

  Hospitality

  $1,113,874

  Educational

  $926,730

  Medical

  $958,602

  Retail

  $1,441,581

Location Insight

City

Detroit

County

Wayne

State

Michigan

Latitude

42.3677

Longitude

-83.0356

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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