600 Town Center Dr | Dearborn, MI 48126
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- LoopNet Team
600 Town Center Dr
Dearborn, MI 48126
Hospitality Property For Sale
·
810,000 SF
INVESTMENT HIGHLIGHTS
- Non-performing loan - note sale with sheriff's deed.
- Excellent redevelopment opportunity or conversion to multi-family or student housing.
- Convenient access to Ford Road, Rotunda Drive, and Interstate 94.
- 18-story former hotel - 810,000 square feet, featuring 773 rooms, restaurants, ballrooms, meeting/conference rooms, and pool.
- Superb visibility from Southfield Freeway (96,000+ vehicles per day) and Michigan Avenue (25,000+ vehicles per day).
- Well-positioned in close proximity to Ford's World Headquarter, Greenfield Village, U of M - Dearborn, Henry Ford College, and Fairlane Town Center.
LOAN DETAILS
Loan Status
Lien Position
Outstanding Balance
Original Balance
Origination Date
Maturity Date
Loan Status
Lien Position
Outstanding Balance
Original Balance
Origination Date
Maturity Date
Original Term
Remaining Term
Interest Rate
Rate Type
Non-Recourse
Cross-Collateralized
Foreclosed
First
$11,490,000
$16,490,000
10/26/2021
10/26/2023
Foreclosed
First
$11,490,000
$16,490,000
10/26/2021
10/26/2023
2 Months
-26 Months
19.00%
Fixed
No
No
Original Term
Remaining Term
Interest Rate
Rate Type
Non-Recourse
Cross-Collateralized
2 Months
-26 Months
19.00%
Fixed
No
No
PROPERTY FACTS
| Sale Condition | Auction Sale | Building Size | 810,000 SF |
| Type of Ownership | Fee Simple | No. Stories | 18 |
| Property Type | Hospitality | Year Built | 1975 |
| Property Subtype | Hotel | Parking Ratio | 0.99/1,000 SF |
| Building Class | B | Corridor | Interior |
| Lot Size | 23.15 AC | APN / Parcel ID | 32-09-232-01-003 |
| Zoning | BC - Hotels or motels, hospitals, restaurants, financial institutions, administrative, businesses and more. Multi-family is permitted as a special use. | ||
| Sale Condition | Auction Sale |
| Type of Ownership | Fee Simple |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 23.15 AC |
| Building Size | 810,000 SF |
| No. Stories | 18 |
| Year Built | 1975 |
| Parking Ratio | 0.99/1,000 SF |
| Corridor | Interior |
| APN / Parcel ID | 32-09-232-01-003 |
| Zoning | BC - Hotels or motels, hospitals, restaurants, financial institutions, administrative, businesses and more. Multi-family is permitted as a special use. |
AMENITIES
- Business Center
- Fitness Center
- Pool
- Restaurant
- Room Service
- Spa
- On-Site Retail
- On-Site Bar
- Convention Hotel
- Meeting Event Space
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