248-563-0739
1400-1404 Gratiot Ave, Detroit, MI for Sale
Office - FOR SALE
1/26
null | Request Cap Rate

1400-1404 Gratiot Ave
Detroit, MI 48207
Lafayette Park


OVERVIEW

The Viola Building - is a restored 5-story mixed-use office/retail building, located on the busy SEC of Gratiot Ave and Russell St. at the gateway to Eastern Market. The original 1923 building was renovated in 2018 and 2020/2023 with additional improvements planned for 2025. The building has received ±$1.50 MM in capital upgrades, making significant additions such an elevator, new windows, new roof and dedicated furnaces per floor. The building is scheduled for planned additional improvements to the main corridor and hallway, lighting, adding murals/art and a lot more fresh paint throughout the interior. The Viola Building provides for ample lower-level storage space. The unique property consists of prime ground floor retail/restaurant space with four floors of office and live/workspace with skyline views. The newly installed elevator provides easy access to units, which have wide open floor plate throughout with sealed concrete floors, in suite restrooms and kitchens. Located at the busy SEC of Gratiot Ave and Russell St. at the Gateway to Eastern Market in a Qualified Opportunity Zone (QOZ). Excellent walk, bike and transit scores in the thriving Eastern Market area. Located directly across the new development with 440 Apartments Coming Across the street. Area is part of the Project Green Light Detroit partnering with the Detroit Police Department. 20,000 SF Office 4,000 SF Open Floor Plans, In Suite Restrooms, Kitchenettes 4,000 SF Ground Floor Retail/Restaurant 3,000 SF Basement/Storage Views of Downtown Detroit Skyline New Roof, Windows, HVAC and Elevator Available Street Parking Along Gratiot Ave (front) the Service Drive (back) Ample Additional Surface Parking On/Walkable Off Site Walking distance to Eastern Market, Ford Field, Comerica Park, Campus Martius, Brush Park, City Modern Detroit People Mover provides access to nearby attractions to Greektown, Cadillac Center, Broadway, Bricktown, Grand Circus Park, Campus Martius, Renaissance Center

FOR SALE DETAILS

PRICE

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CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

The Viola Building

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

5

BUILDING CLASS

B

YEAR BUILT

1923

SPRINKLERS

-

PARKING SPACES

12

LAND DETAILS

LAND ACRES

0.12 AC

LAND SF

5,227 SF

ZONING

B4

APN/PARCEL ID

07-000783

ASK ABOUT THIS PROPERTY

Wendy AchoNAI FarbmanMore Info
248-563-0739

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Wendy AchoNAI FarbmanMore Info
248-563-0739

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.