3536 Michigan AveDetroit, MI 48216
- Bars
- 918 SF
Property Details for 3536 Michigan Ave
- Year built
- 1941
- Lot size
- 0.02 AC
- Property size (Sq ft)
- 918 SF
- Zone code
- B4
- Property type
- Bars
- Property subtype
- Pubs
- APN
- 12000362.
- APU
- 12000362
Description
This vacant, 915-square-foot retail building, located at 3536 Michigan Ave in Detroit, Michigan, presents a unique investment opportunity. Built in 1941 and extensively renovated in 2022, the property boasts a new roof and updated electrical systems, ready for immediate occupancy. The single-story building sits on a 1,000-square-foot lot and is zoned B4. Its prime location in Detroit's vibrant Corktown neighborhood places it within close proximity to numerous high-profile businesses and attractions, including Ford Motor Company, Michigan Central Station, the new Detroit City FC stadium, and a variety of popular restaurants and shops. The property's single-tenant occupancy and Net NNN lease type offer straightforward ownership. The asking price is $175,000. The property's APN is 12-000362. This is an exceptional chance to acquire a well-maintained, updated building in a rapidly developing area with significant growth potential. The building's proximity to major employers and entertainment venues makes it an attractive proposition for a variety of businesses.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $212,265
- 6.5%
- $195,937
- 7%
- $181,942
-
Comparable approach
- Method
- Valuation
- Relative Method
- $89,304.50
- Geo Method
- $89,304.50
-
Alternative Use
- Use
- Valuation
- Industrial / Distribution
- $379,610
- Mixed-Use / Specialty
- $196,244
- Hospitality / Lodging
- $145,286
- Office
- $196,124
- Institutional / Educational
- $204,373
- Residential Income
- $239,117
- Multifamily
- $281,213
- Automotive / Energy
- $175,177
- Parking / Income-Based Land
- $59,458.70
- Restaurant / Food Service
- $104,212
- Healthcare / Senior Housing
- $200,214
Location Insight
- City
- Detroit
- County
- Wayne
- State
- Michigan
- Latitude
- 42.3317
- Longitude
- -83.0927
- CBSA code
- 19820
- CBSA name
- DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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