Address
7059 Michigan Avenue, Detroit, MI
Price
$ 320,000
Property Attributes
- MLS#23145986
- TypeCommercial
- CountyWAYNE
- CityDetroit
- AreaDetroit City
- NeighborhoodDetroit City
- Zip48210
- StyleBusiness
- Year Built1926
- Taxes$ 5491
- Price$ 320,000
- Bedrooms0
- Full Bathrooms2
- Half Bathrooms0
- Lot Size0.36 Acres
Data Source:
Michigan Regional Information Center (MICHRIC)
Property Description
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.
| Price History | |
|---|---|
| 12/29/2023 | Listed $325,000 |
| 1/11/2024 | 2% - $320,000 |
General Features
| 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 |
| Township | Detroit City |
| Property SubType | Business |
| Tax Year | 2023 |
| Business Type | Other,Restaurant,Bar/Tavern/Lounge,Storage,Retail |
| County | Wayne |
| New Construction | No |
| 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 | No |
| Street Name | Michigan |
| Land Lease Y/N | No |
| Tax Annual Amount | 5491.0 |
| Lease Renewal Y/N | No |
| MLS Area Minor | Wayne County - 100 |
| Additional Parcels Y/N | No |
| Lease Considered Y/N | No |
| Rent Control Y/N | No |
| Availability Date | 2024-01-02 |
| Days on Market | 139 |
| Standard Status | Active |
| Occupancy Description | Vacant |
| Tax Assessed Value | 64102 |
| Ownership Type | LLC |
| MobileHomeRemainsYN | No |
| 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 |
Interior Features
| Total Fireplaces | 2 |
|---|---|
| Total Stories | 3052 |
| Basement (Y/N) | Yes |
| Air Conditioning Y/N | No |
| Heating Y/N | Yes |
| Full Baths | 2 |
| Street Suffix | Avenue |
| Electric On Property Y/N | No |
| Total Baths | 2 |
Exterior Features
| 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 | No |
| 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 | No |
| Open Parking Y/N | No |
| Horse Y/N | No |
| Irrigation Water Rights Y/N | No |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Commercial Average in 48210
Price
Taxes
Visits
Year Built
Listing information is provided by Participants of the MichRIC MLS. IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed. ©: MichRIC MLS. Last Update May 19, 2024 5:41 AM UTC
Water Wonderland Board of REALTORS® All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested
Northern Great Lakes REALTORS® MLS All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested
