7059 Michigan Avenue Detroit, MI ^$ 320,000

7059 Michigan Avenue

^$ 320,000

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7059 Michigan Avenue

Detroit, MI, 48210

^$ 320,000

Studio Baths0.0 Sq 3,052

Monthly Estimate*

^$ 2,127

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Studio

Commercial Property for sale in Detroit, MI

for $320,000. This 3,052 square foot building was built in 1926 on a lot size of 0.36.

Unique opportunity featuring 68' of road frontage on the heavily trafficked Michigan Avenue and minutes from the commercial hubs of Dearborn, Corktown and South West Detroit. Parcel is zoned B4 and provides a secured parking lot. The former Exclusive Yacht Club (Sunset Strip) offers approximately over 3,000 square feet and two floors of rehabilitatable space which includes bar equipment, sound system and updated commercial kitchen (new 2021). The sale includes 2 additional R2 vacant lots, 4467 & 4471 Parkinson- for either expanded parking or residential building. An excellent time to seize the opportunity and invest in the rapidly redeveloping Michigan Avenue corridor.*****THE LIQOUR AND CABARET LICENSES ARE ALSO AVAILABLE FOR PURCHASE IN ADDITION TO THE REAL ESTATE.*****Various

Commercial Active

Price

^$ 320,000

Bedrooms

Studio

Property Type

Commercial

Taxes

^$ 5,491

Style

Business

Lot Size

0.36

Year Built

1926

Town/City

Detroit

County/Region

Wayne

MLS | Web ID

70382088

Features

General

Heating Forced Air

Possession At Close

Water Public Water Public Water at Street

Status Active Active

Year Built 1926

County Wayne

Class COM/IND/BUS OPP

Type Business

Percent Ownership LLC

Municipality Detroit

Zoning Commercial Residential

Subdivision MI

Commercial Features Cable TV Available Electric Available Furniture Gas Available Telephone

Area UPDATE

Primary City Detroit

Directions From Michigan Avenue South Bound side of street at Parkinson

City Detroit

Street Name Michigan

Financial Terms Cash

Legal Description S MICHIGAN 75 THRU 77 EXC MICHIGAN AVE AS WD T LARKINS SUB L17 P74 PLATS W C R 18/221 67.68 X 61.78A

DOM 161

Postal Code 48210

Price Per Sq Ft Total 104.85

Coming Soon Unique opportunity featuring 68' of road frontage on the heavily trafficked Michigan Avenue and minutes from the commercial hubs of Dearborn

Exterior

Exterior Block Concrete Other

Frontage 200

Lot Size Area 0.36

Lot Dimensions 68.00 x 62.00

Roads Paved Street

Waterfront Y/N No

Interior

Fuel Type Natural Gas

* Excluded Features

List By

William Binford

Listing Agent

Hub, Llc

Broker

dino@hubrealtysolutions.com

Affordability Calculator

$2,584

Per Month

Monthly Principal & Interest: $2,127
Monthly Property Taxes: $458
Monthly Home Insurance: --

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Down Payment

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Interest Rate

Yearly Property Taxes

Yearly Home Insurance

Default based on a 30-year fixed rate of 6.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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THE TIME TO SELL IS NOW!

Nearby

Trends
Schools

Commerical listings in Detroit, MI

Average List Price ^$488,540

Percent of Sale Price 53%

About Detroit, MI

633,657 Population

-33% Since 2002

^$26,977 Median Income

36.23 Median Age

26% Households with Children

View more area information

Trends Information provided by ATTOM Data Solutions.

760529 Elementary School

760235 Middle School

Unknown High School High School

See complete school information

Pricing History

Date	Price	Price Change	Description
5/1/2024	$320,000		Listed Price

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7059 Michigan Avenue, Detroit, MI, 48210 is a Commercial Property for sale at $320,000 with 3,052 sqft and a lot size of 0.36. 7059 Michigan Avenue is a studio with 0.0 baths and was built in 1926. The property's zip code is 48210 which is in Detroit, MI

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 6.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource.

The information published and disseminated by MiRealSource is communicated verbatim, without change by MiRealSource, as filed with MiRealSource by its members. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified.

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7059 Michigan Avenue

Commercial Property for sale in Detroit, MI

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