Clay School Building 453 Martin Luther King Jr. Blvd 12,628 SF Vacant Office Building Detroit, MI 48201 $3,463,675 CAD ($274.29 CAD/SF)
INVESTMENT HIGHLIGHTS
- Less than 1 mile from Little Caesars Arena, Ford Field, and Comerica Park
- Originally a school building built in 1888 and remodeled to serve as an office in 1981
- Prime Rehab Opportunity of a Late Victorian Piece of Detroit History
EXECUTIVE SUMMARY
NO HISTORIC limitations on this property. Endless possibilities!
Rare opportunity for Redevelopment in The Midtown Neighborhood.
State and National Tax Credits offered at 20% and 25% for rehab costs IF conforming to historic preservation guidelines.
In the center of LCA and Olympia Entertainment, DMC Hospital, Motor City Casino, Downtown District and Midtown
In Community Benefits Impact Area for $1.5B District Detroit Development that includes a series of hotels, entertainment venues, residences, retail, and business incubators.
Bring your vision and be a part of THE NEW DETROIT.
Rare opportunity for Redevelopment in The Midtown Neighborhood.
State and National Tax Credits offered at 20% and 25% for rehab costs IF conforming to historic preservation guidelines.
In the center of LCA and Olympia Entertainment, DMC Hospital, Motor City Casino, Downtown District and Midtown
In Community Benefits Impact Area for $1.5B District Detroit Development that includes a series of hotels, entertainment venues, residences, retail, and business incubators.
Bring your vision and be a part of THE NEW DETROIT.
PROPERTY FACTS
Sale Type
Investment or Owner User
Sale Conditions
Property Type
Office
Property Subtype
Building Size
12,628 SF
Building Class
C
Year Built
1888
Price
$3,463,675 CAD
Price Per SF
$274.29 CAD
Percent Leased
Vacant
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
6,314 SF
Slab To Slab
11’
Building FAR
0.41
Lot Size
0.70 AC
Opportunity Zone
Yes
Zoning
SD2 - Downtown
Parking
50 Spaces (3.96 Spaces per 1,000 SF Leased)
AMENITIES
- Bus Line
- Fenced Lot
1 of 1
Walk Score®
Walker's Paradise (92)
Bike Score®
Biker's Paradise (94)
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $0 CAD | |
| Land Assessment | $0 CAD | Total Assessment | $1,243,982 CAD |
