The Block at Cass Park | 2727 Second Ave
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The Block at Cass Park 2727 Second Ave
247,869 SF 100% Leased Office Building Detroit, MI 48201 $9,750,000 ($39/SF)
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
Building Size
247,869 SF
Building Class
B
Year Built
1927
Price
$9,750,000
Price Per SF
$39
Percent Leased
100%
Tenancy
Multiple
Building Height
5 Stories
Typical Floor Size
49,574 SF
Slab To Slab
11’
Building FAR
1.56
Lot Size
3.64 AC
Opportunity Zone
Yes
Zoning
B4 General Business - B4 General Business District provides for business and commercial uses.
Parking
240 Spaces (0.97 Spaces per 1,000 SF Leased)
Amenities
- 24 Hour Access
- Atrium
- Bio-Tech/ Lab Space
- Controlled Access
- Conferencing Facility
- Fenced Lot
- Accent Lighting
- Basement
- Central Heating
- High Ceilings
- Natural Light
- Secure Storage
- Air Conditioning
Walk Score ®
Very Walkable (85)
Transit Score ®
Excellent Transit (76)
Bike Score ®
Very Bikeable (88)
PROPERTY TAXES
| Parcel Number | 04-003315 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $18,118,800 |
PROPERTY TAXES
Parcel Number
04-003315
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$18,118,800
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The Block at Cass Park | 2727 Second Ave
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