7300 Woodward AveDetroit, MI 48202

  • Office properties
  • 263,240 SF
For Lease
$17/SF/YR View listing

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
7300 Woodward Ave, Detroit, Michigan

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

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2020
$184,965
-
-
$6,620,400
-
-
-
$13,240,800

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