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$ 1,695,000
Est. payment | /mo
7,248 SqFt
$ 1,695,000
Est. payment | /mo
7,248 SqFt
Key Details
Property Type Commercial
Sub Type Commercial/Industrial
Listing Status Active
Purchase Type For Sale
Square Footage 7,248 sqft
Price per Sqft $233
Subdivision Mi
MLS Listing ID 60380833
Annual Tax Amount $16,632
Lot Size 1,742 Sqft
Acres 0.04
Lot Dimensions 48.00 x 36.00
Property Sub-Type Commercial/Industrial
Property Description
Don't miss this unique opportunity to own a mixed-use property in Detroit's highly sought-after Eastern Market area. The building features four units: three residential lofts, each with two bedrooms and two bathrooms, accessible by elevator; and a ground-floor retail space with a valuable liquor license. Currently, the lofts are operated as successful Airbnb rentals, offering immediate income potential. However, the next owner can explore diverse opportunities to maximize value. The ground-floor retail space is perfectly suited for a restaurant, bar, café, or gallery. Additionally, rooftop access presents another value enhancing feature. Situated in a prime location, the building is within easy walking distance of Eastern Market's vibrant shops and restaurants. Convenient access to major highways also makes it ideal for commuters. The building is in excellent, well-maintained condition, showcasing desirable architectural elements such as high ceilings, original timber beams, large windows, and exposed brick walls. The retail space boasts a large storefront and a fully equipped commercial kitchen, ready for service. The lower level offers additional creative space, perfect for a speakeasy enhanced by a convenient dumbwaiter. This property represents a compelling investment opportunity, offering revenue potential from both residential and commercial tenants. The option to purchase the liquor license, restaurant fixtures and furniture, and fully furnished lofts is available, making this truly a turnkey offering.
Location
State MI
County Wayne
Area Detroit (82001)
Zoning Multi-Family,Commercial,Residential
Interior
Heating Forced Air
Building
Foundation Basement
Water Public Water
Structure Type Brick
Others
Ownership Private
Financing Cash,Conventional
Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource.
Listed by Real Estate One-Royal Oak
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