Multi-tenant Office/Retail Building - Stabilized 11.3% Cap Rate with Value-Add
4722-4729 and 4737 Conner Street
Detroit, MI 48215
Highlights
- Stabilized investment with upside potential
- Strong NOI of $417,445 // Pro Forma NOI: $532,972
- Impressive 83% occupancy for consistent income
- 2009 Renovation: roof, mechanicals, interior, and exterior facade
- Ideal vacancy for retail, office, or warehouse utilization
- M4 zoning for diverse use
- Established credit tenant in place since 2009
- High-traffic area anchored by a national grocery store
Description
This landmark 43,550 SF building, situated in the heart of Detroit, offers a rare investment opportunity. This property boasts an impressive 83% occupancy by the Michigan Department of Human Resources until January 31, 2030, presenting a stabilized investment with significant upside potential. This long-standing credit tenant has anchored the site since 2009, ensuring consistent income. The high-traffic area, complete with a national grocery store, bodes well for retail, office, or warehouse utilization, and generates a substantial NOI of $417,445.55. Don't miss out on this exceptional opportunity for a secure and lucrative investment in the Detroit market!
This building is surrounded by retail, public service offices, fast food, residential, and senior housing. The newly constructed Stellantis Plant is next door and Chrysler Manufacturing is nearby. High traffic counts on Conner immediately lead to I-94 freeway access and Jefferson Ave. Surrounding retail includes restaurants, clothing, furniture, national grocery, nail salons, and more!
