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556-560 Custer St 45,000 sq ft 100% Let Industrial Property Detroit, MI 48202 £1,234,250 (£27.43/sq ft) 5.35% Net Initial Yield

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EXECUTIVE SUMMARY

Here is a superb, cash flowing redevelopment opportunity in Detroit’s North End. This 45k square foot, Two story building is completely overbuilt and made of concrete. You could go vertical and add more stories. Use your imagination. Excellent candidate for mixed use multi family development or condominium conversion. There is a reinforced ramp that allows for vehicles or heavy machinery to be driven to the Second floor. There is an adjacent .83 acre lot that is fenced in with a vacated alleyway that bisects the site. You can use this lot for parking, new construction or both. The North End neighborhood continues to thrive. Here is your chance to take on a big exciting project and be a part of Detroits continuing growth. Property Sold AS IS

PROPERTY FACTS

Price £1,234,250
Price per sq ft £27.43
Sale Type Investment or Owner Occupier
Yield 5.35%
Sale Conditions
1031 Exchange
  • Sale Leaseback
  • Portfolio Sale
  • Redevelopment Project
Property Type Industrial
Property Subtype
Manufacturing
  • Shopfront
  • General Retail Shopfront / Office
  • General Retail Shopfront Retail / Residential
Costar Property Class C
Total Plot Size 1.35 ac
Net Internal Area (NIA) 45,000 sq ft
No. Floors 2
Year Built 1950
Eaves Height 12 ft
No. Drive In / Grade-Level Doors 3
Opportunity Zone Yes
Use Class R3 - R3

MAJOR TENANTS

  • TENANT
  • INDUSTRY
  • sq ft OCCUPIED
  • RENT/sq ft
  • LEASE END
  • Spectrum Boutique
  • Retailer
  • -
  • -
  • -
TENANT INDUSTRY sq ft OCCUPIED RENT/sq ft LEASE END
Spectrum Boutique Retailer - - -
Walk Score®
Easily Walkable (72)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures how walkable a location is.
Transit Score® measures access to public transport.
Bike Score® measures how accessible a location is by bike
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures how walkable
a location is. Transit Score®
measures access to public transport. Bike Score®
measures how accessible a location is by bike®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
03-001871
Land Assessment
£0
Improvements Assessment
£0
Total Assessment
£395,409
  • Listing ID: 35267595

  • Date on Market: 26/03/2025

  • Last Updated:

  • Address: 556-560 Custer St, Detroit, MI 48202

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