16209 E Warren Ave
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16209 E Warren Ave
4,486 SF Vacant Retail Building Detroit, MI 48224 $224,995 ($50/SF)
Executive Summary
Great Opportunity for a small scale mixed-use development project on the E. Warren corridor.
B4 - General Business District Zoning Classification/OPPORTUNITY ZONE (The Major Corridor Overlay Area provides the opportunity for more detailed review of proposed development).
With retail space on the lower lever and a four (4) bedroom apartment located on the second level above the retail space, this property is situated along the area of the E. Warren corridor that is currently anchoring the revitalization is a $8.8-million streetscape that has made this stretch of East Warren from Three Mile Drive to Cadieux more attractive, as well as more pedestrian and business friendly. The 0.6-mile project, which spans the Morningside and East English Village neighborhoods, includes new protected bike lanes, new pavement, and sidewalks, two parking lots, ADA accessibility, improved lighting, and landscaping.
There are several new real estate developments within Detroit's E. Warren corridor, including the construction of the “Ribbon”, which is the largest mixed-use development to date in the area and only two (2) minutes away from this property. "Ribbon"
https://detroitmi.gov/news/work-begins-ribbon-new-8m-mixed-use-affordable-housing-project-east-english-village
The aim of these developments is revitalizing neighborhoods, attracting businesses, and improving infrastructure.
The E. Warren Development Corp is a community and economic nonprofit working to support the revitalization of the E. Warren Corridor, which has just recently announced the ground breaking of a public market on E. Warren where a former abandoned Pizza Hut was formerly located. "Public Market"
https://detroitmi.gov/news/east-warren-ave-continues-transform-mayor-joins-city-officials-and-partners-public-market
“We’re more than just a market. We are intentional in working to support our local & small businesses to grow, sustain and thrive. This includes supporting and enhancing the E. Warren commercial corridor and adjacent neighborhoods through collaboration, community engagement, and equitable development.? The vision behind this is 100% business occupancy of E Warren with a diverse mix of walkable, accessible community-driven businesses that serve everyone in the community.”
B4 - General Business District Zoning Classification/OPPORTUNITY ZONE (The Major Corridor Overlay Area provides the opportunity for more detailed review of proposed development).
With retail space on the lower lever and a four (4) bedroom apartment located on the second level above the retail space, this property is situated along the area of the E. Warren corridor that is currently anchoring the revitalization is a $8.8-million streetscape that has made this stretch of East Warren from Three Mile Drive to Cadieux more attractive, as well as more pedestrian and business friendly. The 0.6-mile project, which spans the Morningside and East English Village neighborhoods, includes new protected bike lanes, new pavement, and sidewalks, two parking lots, ADA accessibility, improved lighting, and landscaping.
There are several new real estate developments within Detroit's E. Warren corridor, including the construction of the “Ribbon”, which is the largest mixed-use development to date in the area and only two (2) minutes away from this property. "Ribbon"
https://detroitmi.gov/news/work-begins-ribbon-new-8m-mixed-use-affordable-housing-project-east-english-village
The aim of these developments is revitalizing neighborhoods, attracting businesses, and improving infrastructure.
The E. Warren Development Corp is a community and economic nonprofit working to support the revitalization of the E. Warren Corridor, which has just recently announced the ground breaking of a public market on E. Warren where a former abandoned Pizza Hut was formerly located. "Public Market"
https://detroitmi.gov/news/east-warren-ave-continues-transform-mayor-joins-city-officials-and-partners-public-market
“We’re more than just a market. We are intentional in working to support our local & small businesses to grow, sustain and thrive. This includes supporting and enhancing the E. Warren commercial corridor and adjacent neighborhoods through collaboration, community engagement, and equitable development.? The vision behind this is 100% business occupancy of E Warren with a diverse mix of walkable, accessible community-driven businesses that serve everyone in the community.”
Property Facts
Sale Type
Investment or Owner User
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Restaurant
Building Size
4,486 SF
Year Built
1951
Price
$224,995
Price Per SF
$50
Percent Leased
Vacant
Building Height
2 Stories
Building FAR
1.84
Land Acres
0.06 AC
Opportunity Zone
Yes
Zoning
B4 - General Business District Zoning Classification
Walk Score ®
Very Walkable (71)
PROPERTY TAXES
Parcel Number | 21-002871 | Improvements Assessment | $0 |
Land Assessment | $0 | Total Assessment | $77,500 |
PROPERTY TAXES
Parcel Number
21-002871
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$77,500
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16209 E Warren Ave
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