17236 Mount Elliott StHamtramck, MI 48212

Property Details for 17236 Mount Elliott St

Year built

1984

Lot size

0.13 AC

Property size (Sq ft)

5,960 SF

Zone code

M4

Property type

Warehouses

APN

15014266.

APU

15014266

Description

This 17,000 square foot industrial warehouse, built in 1984, is available for sale and lease. Located in Detroit, Michigan, this single-tenant property boasts a prime location, centrally situated between major freeways I-94, I-75, M-53 (Van Dyke Avenue), and M-102 (8 Mile Road). The building is currently in shell condition and zoned M4-Industrial, offering significant potential for various uses. Features include two overhead doors, three heavy-duty cranes, and a robust 1200-amp electrical service. Ceiling heights range from 12 to 24 feet, providing flexibility for diverse operational needs. Importantly, this property is situated in a designated "Green Zone," making it ideally suited for cannabis cultivation and processing businesses, in addition to general industrial or storage uses. Seller financing is available, presenting a compelling opportunity for qualified buyers. This is a rare chance to acquire a well-located, adaptable industrial space with significant upside potential.

• CAP approach

  CAP return

  Valuation

  6%

  $2,648,130

  6.5%

  $2,444,430

  7%

  $2,269,820

• Comparable approach

  Method

  Valuation

  Relative Method

  $891,997

  Geo Method

  $891,997

• Alternative Use

  Use

  Valuation

  Retail / Commercial

  $1,274,770

  Mixed-Use / Specialty

  $1,286,990

  Hospitality / Lodging

  $966,051

  Office

  $1,296,800

  Institutional / Educational

  $1,343,940

  Residential Income

  $1,572,410

  Multifamily

  $1,792,920

  Automotive / Energy

  $1,151,950

  Parking / Income-Based Land

  $380,959

  Restaurant / Food Service

  $705,154

  Healthcare / Senior Housing

  $1,302,590

Location Insight

City

Detroit

County

Wayne

State

Michigan

Latitude

42.4208

Longitude

-83.038

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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