1938 Franklin Street Detroit, MI 48207

Active

$3,950,000

Market Estimate

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28,078 sq. ft.
0.62 Acres
Commercial Lease
MLS# 60348667

Listing provided courtesy of: O'Connor Realty Detroit, LLC - 313-963-9891

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Property Details

Description

The newly renovated Elevator Building offers creative workspace in the heart of Detroit's East Riverfront. The building hosts a community of creative professionals working in media, architecture, fashion, wellness, community services, and other fields. The spaces offer a modern reboot of Detroit's industrial past, featuring ample light, high ceilings, and exposed brick and beams. Capital improvements include new roof systems, energy-efficient windows, new HVAC units, and renovated bathrooms. Amenities have also been added, including a conference room, kitchenette, bike storage, high-speed wifi and a private shower room. Tenants take advantage of the building's direct proximity to the award-winning Riverwalk and the Dequindre Cut to access downtown, Eastern Market and Lafayette Park by foot, bike or scooter. Wednesday October 30th from Noon - 2:00 PM

General Features
- Acreage 0.62
- Area Municipality Detroit (82001)
- County Wayne
- Originating MLS RealComp
- Ownership Private
- Subdivision SUB OF LOT 2 WITHERELL FARM (PLATS)
- Total SqFt Finished 28078
- Waterfront Y/N No
- Year Built 19
- ZONING Commercial
Building Features
- Exterior Construction Brick
- Roofing Rubber
Property Features
- Water Public Water
- Lot Size 200x120
- Roads Paved Street
- Sewer Septic Public Sanitary

Neighborhood

48207 (Detroit) Demographics

42 Median Age

3,323 Population Density (per sq. mile)

40% College Educated

$33,754 Estimated Median Income

2,771 Estimated Total Home Owners

8,968 Estimated Total Renters

24% / 76% Estimated Owner / Renter Divide

2 Estimated Average Household Size

21,282 Total Population

Community data courtesy of LiveBy, Inc.

Market Last 30 Days In This Postal Code

$240,000 Median Sales Price

7 Homes Sold

24 New On Market

Average Days on Site

Properties for Sale

Calculations provided by Reliance Network

Property History

Date	Event	Price	Percent Change
--	Current Price Source: Multiple Listing Service	New Value: $3,950,000
10/20/2024 10:52:00 PM	New in Database Source: Multiple Listing Service	New Value: $3,950,000

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* This payment calculator is intended for educational and planning purposes only.
** Assumes 6.5% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information.

Information is provided in part by the IDX program of the Great Lakes Repository. All information provided is deemed reliable but is not guaranteed and should be independently verified.

Note: All room dimensions, including square footage data, are approximate and must be verified by the buyer. The information contained herein is furnished by the owner to the best of his/her knowledge but is subject to verification by the purchaser, and agent assumes no responsibility for the correctness thereof. The sale offering is made subject to errors, omissions, change of price, prior sale, or withdrawal without notice. In accordance with the Law, this property is offered without respect to race, color, creed, national origin, sex, familial status or disability. This is not intended to solicit property currently listed.