7300 Woodward AveDetroit, MI 48202
- Office properties
- 263,240 SF
Property Details for 7300 Woodward Ave
- Year built
- 1912
- Lot size
- 1.21 AC
- Property size (Sq ft)
- 263,240 SF
- Zone code
- B4
- Property type
- Office properties
- Property subtype
- Office buildings
- APN
- 01004292.
- APU
- 1004292
Description
This exceptional 263,240 square foot, Class B office building, constructed in 1912, offers a unique opportunity in Detroit's vibrant New Center area. Located at the highly visible northeast corner of Woodward Avenue and East Grand Boulevard, this eight-story building boasts over 300 parking spaces and is conveniently situated near major expressways (I-75, I-94, and M-10) and the QLine streetcar. Currently undergoing extensive renovations, including facade improvements, upgraded entrances, HVAC system enhancements, and elevator modernization, this property is poised for immediate occupancy. The building is multi-tenant, with a minimum divisible space of 2,500 square feet and a maximum contiguous space of 100,000 square feet currently available. This presents a rare chance to secure a significant footprint in a rapidly developing area where the New Center, Milwaukee Junction, Tech Town, and North End neighborhoods converge. The address is 7300 Woodward Avenue, Detroit, Michigan, 48202, in Wayne County. The building features elevators and is ideal for traditional office, executive office, or medical office uses.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $54,750,076
- 6.5%
- $50,538,532
- 7%
- $46,928,636
-
Comparable approach
- Method
- Valuation
- Relative Method
- $24,623,470
- Geo Method
- $24,623,470
-
Alternative Use
- Use
- Valuation
- Residential
- $62,667,780
- Hospitality
- $57,403,348
- Educational
- $47,758,912
- Medical
- $49,401,416
- Retail
- $74,291,640
Location Insight
- City
- Detroit
- County
- Wayne
- State
- Michigan
- Latitude
- 42.3709
- Longitude
- -83.0726
- 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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