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7059 Michigan Avenue Detroit, MI $ 320,000
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$ 320,000 Get more info
7059 Michigan Avenue
$ 320,000
Back to search
Share Save

7059 Michigan Avenue

Detroit, MI, 48210
$ 320,000
Baths2.0

Monthly Estimate*

$ 2,235

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Studio

Commercial Property for sale in Detroit, MI

for $320,000 with 2 full baths. This building was built in 1926 on a lot size of 0.36.

Unique opportunity featuring 68' of road frontage on the heavily trafficked Michigan Avenue and minutes from the commercial hubs of Dearborn, Corktown and South West Detroit. Parcel is zoned B4 and provides a secured parking lot. The former Exclusive Yacht Club (Sunset Strip) offers approximately over 3,000 square feet and two floors of rehabilitatable space which includes bar equipment, sound system and updated commercial kitchen (new 2021). The sale includes 2 additional R2 vacant lots, 4467 & 4471 Parkinson- for either expanded parking or residential building. An excellent time to seize the opportunity and invest in the rapidly redeveloping Michigan Avenue corridor.*****THE LIQOUR AND CABARET LICENSES ARE ALSO AVAILABLE FOR PURCHASE IN ADDITION TO THE REAL ESTATE.*****Various purchase options available:$325,000 As Is$425,000 As Is with Liquor License$550,000 As Is with Liqour License and Cabaret License*The Cabaret License is tied to the address. The city of Detroit is no longer offering Cabaret Licenses.

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Commercial Active

Price

$ 320,000

Bedrooms

Studio

Full Bath

2

Property Type

Commercial

Taxes

$ 5,491

Style

Business

Lot Size

0.36

Year Built

1926

Town/City

Detroit

County/Region

Wayne

MLS | Web ID

23145986
Features
General
Sewer Public Sewer
Utilities Phone Available Storm Sewer Available Public Water Available Public Sewer Available Natural Gas Available Electric Available Cable Available Broadband Available Phone Connected Natural Gas Connected
Possession Close Of Escrow
Roof Concrete
Construction Materials Other Block
Year Built 1926
Property SubType Business
Tax Year 2023
Business Type Other Restaurant Bar/Tavern/Lounge Storage Retail
County Wayne
New Construction N
Property Type Commercial Sale
Subdivision Name LARKINS T
Status Active
Directions From Michigan Avenue South Bound side of street at Parkinson
City Detroit
High School District Detroit
Zoning Description Commercial Residential
Total Units 1
MLS Area Wayne County - 100
Lot Size Square Feet 4356.0
Waterfront Y/N N
Street Name Michigan
Land Lease Y/N N
Tax Annual Amount 5491.0
Lease Renewal Y/N N
MLS Area Minor Wayne County - 100
Additional Parcels Y/N N
Lease Considered Y/N N
Rent Control Y/N N
Availability Date 2024-01-02
Days on Market 118
Standard Status Active
Occupancy Description Vacant
Tax Assessed Value 64102
Ownership Type LLC
Legal Description S MICHIGAN 75 THRU 77 EXC MICHIGAN AVE AS WD T LARKINS SUB L17 P74 PLATS W C R 18/221 67.68 X 61.78A
Senior Community None
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Interior
Total Fireplaces 2
Total Stories 3052
Basement (Y/N) Y
Air Conditioning Y/N N
Heating Y/N Y
Full Baths 2
Street Suffix Avenue
Electric On Property Y/N N
Total Baths 2
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Exterior
Water Source Public
Inclusions {u'Licenses': True u'Equipment': True u'Real Estate': True u'Inventory': True u'Furniture': True}
Lot Size Area 0.36
Foundation Details Other
Number of Buildings 2
Spa N
Building Area Total 3052.0
Lot Dimensions 68.00 x 62.00
Lot Size Acres 0.36
Road Surface Type Paved
Lot Size Units Acres
Crops Included Y/N N
Open Parking Y/N N
Horse Y/N N
Irrigation Water Rights Y/N N
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Internal Only
Street Number 1 7059
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* Excluded Features
List By
Hub, Llc

Broker

dino@hubrealtysolutions.com

Email

Affordability Calculator

$2,693
Per Month
83%
17%
0%
Monthly Principal & Interest
$2,235
Monthly Property Taxes
$458
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
3706345 Elementary School
3706341 Middle School
Unknown High School High School
See complete school information
Pricing History
DatePricePrice ChangeDescription
1/11/2024$320,000 -1.54% Price Down
12/29/2023$325,000 Listed Price

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7059 Michigan Avenue, Detroit, MI, 48210 is a Commercial Property for sale at $320,000 with a lot size of 0.36. 7059 Michigan Avenue is a studio with 2.0 baths and was built in 1926. The property's zip code is 48210 which is in Detroit, MI

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