Milwaukee Junction Redevelopment Opportunity

Industrial for Sale
Sale Pending
Catylist Listing ID: 30558714
Property Subtypes: Manufacturing, Mixed Use, Warehouse/Distribution
Status: Pending
Building Size (RSF): 61,000 SF
Gross Building Area: See Agent
Gross Land Area: 112,820 SF
Sale Price: $2,340,000
Unit Price: $38.36 PSF
In Opportunity Zone? Yes
Property Use Type: Investment
Building Name: Former Autocar Service Building
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 10/14/2020

Overview / Comments

In partnership with the Detroit Building Authority, (“DBA”), the City of Detroit’s Housing and Revitalization Department (“HRD”) and Planning and Development Department (“PDD”) seek a developer to design, rehab, and/or construct a commercial development in the heart of the Milwaukee Junction neighborhood.
Please see attached marketing package for more information.

Submission Process and Timeline Key Dates:

January 15, 2020: Marketing open
January 22, 2020 (11am-12pm), January 28 (10am-11am), February 25th (10am) 2020: Tours of site
March 20, 2020: Response deadline

Additional Details

Nearest MSA: Detroit-Warren-Dearborn
County: Wayne
Submarket/Township: Detroit - New Center
Taxing Authority: City of Detroit
Tax ID/APN: 01001774., 01001773., 01001762-72
Zoning: M2
Property Located Between: John R. St. and Brush St.
Highway Access: M-10, I-75, and I-94
Site Description: The eastern building on the site was the Autocar Service Building, an early auto manufacturer. More recently, the two buildings on the site were used as warehouses.
Area Description: Located in Milwaukee Junction’s Piquette Avenue Industrial Historical District (on the National Register of Historic Places).
Total Number of Buildings: 2
Year Built: 1929
Zoning Description: Restricted Industrial District. The City will work with the Developer to re-zone the site if needed.
Lot Frontage: Approx. 620ft
Lot Depth: Approx. 187ft
Legal Description: S PIQUETTE 38-39 E 10 FT 40 HUBBARD & KINGS L6 P86 PLATS, W C R 1/95 70 X 193.18A S PIQUETTE 37 HUBBARD & KINGS L6 P86 PLATS, W C R 1/95 30 X 190.38A S PIQUETTE 1 THRU 10PEPPERS & HARMONS L8 P20 PLATS, W C R 1/92 30 THRU 36HUBBARD & KINGS L6 P86 PLATS, W C R 1/951/--- 519.56 IRREG.

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 16,201 163,526 416,002
Median Age: 36.03 36.08 34.96
Households: 7,979 67,748 157,323

Contact

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