2987 Franklin Street Detroit, MI ^$ 950,000

2987 Franklin Street

^$ 950,000

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2987 Franklin Street

Detroit, MI, 48207

^$ 950,000

Bedrooms-- Baths-- Sq 20,000

Monthly Estimate*

^$ 5,927

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Commercial Property for sale in Detroit, MI

for $950,000. This 20,000 square foot building was built on a lot size of 0.07.

Welcome to this excellent commercial space in Rivertown, located right next to the nationally renowned Detroit Riverwalk and mere minutes from downtown Detroit, and the Eastern Market. Open to multiple uses, such as office, retail, creative, or light industrial, this space can be combined with additional adjacent spaces (see photo 21: Sections 1, 2 + 4 can be purchased solo for $1.25M or in combination with this unit (Section 3) for a discounted $1.99M and a whopping 12,000 sqft). Currently filled with a month to month lease. Purchase includes 2 parking spaces in the attached gated parking lot.

Commercial Active

Price

^$ 950,000

Property Type

Commercial

Taxes

^$ 8,701

Style

Commercial/Industrial

Lot Size

0.07

Town/City

Detroit

County/Region

Wayne

MLS | Web ID

60949386

Features

General

Possession At Close

Water Public Water at Street

Status Active Active

Year Built 19

Subdivision Franklin 2987 Lofts Condo MI

County Wayne

Class COM/IND/BUS OPP

Type Commercial/Industrial

Ownership Private

Municipality Detroit

Zoning Commercial

Sale/Rent For Sale

Status Detail 0

Commercial Features Fence

Area Detroit (82001)

Primary City Detroit

Directions Driving E on Jefferson towards Belle Isle turn R onto McDougal

City Detroit

Financial Terms Cash Conventional Exchange/Trade

Legal Description N FRANKLIN UNIT NO 2 WAYNE COUNTY CONDO PLAN NO 1095 FRANKLIN 2987 LOFTS CONDOMINIUM RECORDED L54500 P897 DEEDS W C R 11/14 16.43% SPLIT/COMBINED ON 10/05/2017 FROM 11000072-4

DOM 34

Postal Code 48207

Price Per Sq Ft Total AG 47.5

Public Remarks Welcome to this excellent commercial space in Rivertown located right next to the nationally renowned Detroit Riverwalk and mere minutes from downtown Detroit

Exterior

Exterior Brick

Frontage 100

Lot Size Area 0.07

Lot Dimensions 200x100

Roads Paved Street

Waterfront Y/N No

* Excluded Features

List By

Jay Taylor

Listing Agent

Good Company

Broker

jay@jtarealtors.com

Affordability Calculator

$6,652

Per Month

Monthly Principal & Interest: $5,927
Monthly Property Taxes: $725
Monthly Home Insurance: --

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Down Payment

Loan Term

Interest Rate

Yearly Property Taxes

Yearly Home Insurance

Default based on a 30-year fixed rate of 6.375% 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

Trends
Schools

Commerical listings in Detroit, MI

Average List Price ^$496,505

Percent of Sale Price 48%

About Detroit, MI

633,657 Population

-33% Since 2002

^$26,977 Median Income

36.23 Median Age

26% Households with Children

View more area information

Trends Information provided by ATTOM Data Solutions.

760529 Elementary School

760235 Middle School

Unknown High School High School

See complete school information

Pricing History

Date	Price	Price Change	Description
10/30/2025	$950,000		Listed Price

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2987 Franklin Street, Detroit, MI, 48207 is a Commercial Property for sale at $950,000 with 20,000 sqft and a lot size of 0.07. The property's zip code is 48207 which is in Detroit, MI

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 6.375% 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.

Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource.

The information published and disseminated by MiRealSource is communicated verbatim, without change by MiRealSource, as filed with MiRealSource by its members. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified.

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2987 Franklin Street

Commercial Property for sale in Detroit, MI

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