16209 E Warren Ave - Restaurant FOR SALE


Detroit, MI 48224
$194,900 USD
734-355-8858
16209 E Warren Ave, Detroit, MI for Sale
$194,900 USD
Restaurant - FOR SALE
1/14
null | Request Cap Rate

16209 E Warren Ave
Detroit, MI 48224


OVERVIEW

Great Opportunity for a small scale mixed-use development project on the E. Warren corridor. B4 - General Business District Zoning Classification/OPPORTUNITY ZONE (The Major Corridor Overlay Area provides the opportunity for more detailed review of proposed development). With retail space on the lower lever and a four (4) bedroom apartment located on the second level above the retail space, this property is situated along the area of the E. Warren corridor that is currently anchoring the revitalization is a $8.8-million streetscape that has made this stretch of East Warren from Three Mile Drive to Cadieux more attractive, as well as more pedestrian and business friendly. The 0.6-mile project, which spans the Morningside and East English Village neighborhoods, includes new protected bike lanes, new pavement, and sidewalks, two parking lots, ADA accessibility, improved lighting, and landscaping. There are several new real estate developments within Detroit's E. Warren corridor, including the construction of the “Ribbon”, which is the largest mixed-use development to date in the area and only two (2) minutes away from this property. "Ribbon" https://detroitmi.gov/news/work-begins-ribbon-new-8m-mixed-use-affordable-housing-project-east-english-village The aim of these developments is revitalizing neighborhoods, attracting businesses, and improving infrastructure. The E. Warren Development Corp is a community and economic nonprofit working to support the revitalization of the E. Warren Corridor, which has just recently announced the ground breaking of a public market on E. Warren where a former abandoned Pizza Hut was formerly located. "Public Market" https://detroitmi.gov/news/east-warren-ave-continues-transform-mayor-joins-city-officials-and-partners-public-market “We’re more than just a market. We are intentional in working to support our local & small businesses to grow, sustain and thrive. This includes supporting and enhancing the E. Warren commercial corridor and adjacent neighborhoods through collaboration, community engagement, and equitable development.? The vision behind this is 100% business occupancy of E Warren with a diverse mix of walkable, accessible community-driven businesses that serve everyone in the community.”

FOR SALE DETAILS

PRICE

$194,900 USD

PRICE/SF

$43 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

-

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1951

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.06 AC

LAND SF

2,443 SF

ZONING

B4

APN/PARCEL ID

21-002871

ASK ABOUT THIS PROPERTY

Dennis JakubRe/Max ConnectionMore Info
734-355-8858

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Dennis JakubRe/Max ConnectionMore Info
734-355-8858

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.