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The Block at Cass Park 2727 Second Ave 247,869 sq ft 100% Let Office Property Detroit, MI 48201 £7,293,293 (£29.42/sq ft)
INVESTMENT HIGHLIGHTS
- Opportunity to acquire The Block, an iconic building in Downtown Detroit. Designed by Albert Kahn.
- DISCOUNTED BASIS The cost of the Property will compare favorably to the estimated replacement cost of over $700 per square foot.
- INCOME STREAM In-place income being generated from shortterm leases providing investors with flexibility and upside
- EXCELLENT LOCATION across from beautiful Cass Park and in the heart of Detroit, investors and users alike can benefit from favorable freeway access
EXECUTIVE SUMMARY
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.
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Property Subtype
Office / Residential
Property Size
247,869 sq ft
Costar Property Class
B
Year Built
1927
Price
£7,293,293
Price per sq ft
£29.42
Occupancy Rate
100%
Tenancy
Multiple
Number of Floors
5
Typical Floor Size
49,574 sq ft
Floor To Floor Height
11 ft
Plot ratio
1.56
Total Plot Size
3.64 ac
Opportunity Zone
Yes
Use Class
B4 General Business - B4 General Business District provides for business and commercial uses.
Parking
240 Spaces (0.97 Spaces per 1,000 sq ft Leased)
AMENITIES
- 24 Hour Access
- Atrium
- Controlled Access
- Conferencing Facility
- Fenced Lot
- Accent Lighting
- Basement
- Central Heating
- High Ceilings
- Natural Light
- Secure Storage
- Air Conditioning
Walk Score®
Easily Walkable (87)
Transit Score®
Excellent Public Transport (76)
Bike Score®
Good for cycling (88)
PROPERTY TAXES
| Parcel Number | 04-003315 | Improvements Assessment | £0 |
| Land Assessment | £0 | Total Assessment | £13,526,591 |
PROPERTY TAXES
Parcel Number
04-003315
Land Assessment
£0
Improvements Assessment
£0
Total Assessment
£13,526,591
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The Block at Cass Park | 2727 Second Ave
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