2727 Second Ave - Office/Residential FOR SALE
Detroit, MI 48201 |
$9,750,000 USD
248-351-2017
2727 Second Ave
Detroit, MI 48201
HIGHLIGHTS
- Opportunity to acquire The Block, an iconic building in Downtown Detroit. Designed by Albert Kahn.
- INCOME STREAM In-place income being generated from shortterm leases providing investors with flexibility and upside
- DISCOUNTED BASIS The cost of the Property will compare favorably to the estimated replacement cost of over $700 per square foot.
- EXCELLENT LOCATION across from beautiful Cass Park and in the heart of Detroit, investors and users alike can benefit from favorable freeway access
OVERVIEW
The Block consists of 247,869 square feet and is currently 22% leased. The two largest tenants are Lakeshore Legal and United Community Housing Coalition which lease 11,148 SF and 17,097 SF, respectively representing 14% of the building. Leases are short-term or month-to-month. Operating Statements and Rent Rolls are available upon request.
FOR SALE DETAILS
PRICE
$9,750,000 USD
PRICE/SF
$39 USD /SF
CAP RATE
Request Cap Rate
% LEASED
-
TENANCY
Multiple
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
The Block at Cass Park
PROPERTY TYPE
Office
PROPERTY SUBTYPE
Office/Residential
TOTAL BUILDING SIZE
-
STORIES
5
BUILDING CLASS
B
YEAR BUILT
1927
SPRINKLERS
-
PARKING SPACES
240
LAND DETAILS
LAND ACRES
3.64 AC
LAND SF
158,558 SF
ZONING
B4 General Business
APN/PARCEL ID
04-003315
ASK ABOUT THIS PROPERTY
Please correct the highlighted field(s).
248-351-2017
By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.
Please correct the highlighted field(s).
248-351-2017
By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.
