1938 Franklin St - Loft/Creative Space FOR SALE


Detroit, MI 48207- Rivertown
$3,950,000 USD
313-704-2678
1938 Franklin St, Detroit, MI for Sale
$3,950,000 USD
Loft/Creative Space - FOR SALE
1/14
null | 9% Cap Rate

1938 Franklin St
Detroit, MI 48207
Rivertown


HIGHLIGHTS

  • Newly renovated with modern amenities, including high ceilings, exposed brick, and ample natural light
  • Situated in the East Riverfront district, with easy access to downtown, Eastern Market, and Lafayette Park
  • Features new roof systems, energy-efficient windows, and new HVAC units

OVERVIEW

The newly renovated Elevator Building offers creative workspace in the heart of Detroit's East Riverfront. The building hosts a community of creative professionals working in media, architecture, fashion, wellness, community services, and other fields. The spaces offer a modern reboot of Detroit's industrial past, featuring ample light, high ceilings, and exposed brick and beams. Capital improvements include new roof systems, energy-efficient windows, new HVAC units, and renovated bathrooms. Amenities have also been added, including a conference room, kitchenette, bike storage, high-speed wifi and a private shower room. Tenants take advantage of the building's direct proximity to the award-winning Riverwalk and the Dequindre Cut to access downtown, Eastern Market and Lafayette Park by foot, bike or scooter. Property tours will start Wednesday October 30th from Noon - 2:00 PM

FOR SALE DETAILS

PRICE

$3,950,000 USD

PRICE/SF

$141 USD /SF

CAP RATE

9%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Elevator Building

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Loft/Creative Space

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

C

YEAR BUILT

1900

SPRINKLERS

-

PARKING SPACES

22

LAND DETAILS

LAND ACRES

0.62 AC

LAND SF

27,007 SF

ZONING

SD-4

APN/PARCEL ID

09-0000312,23-00-201-10-15N

ASK ABOUT THIS PROPERTY

Vincent MazzolaO'Connor Real EstateMore Info
313-704-2678

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Vincent MazzolaO'Connor Real EstateMore Info
313-704-2678

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