710 E Ferry St - Apartments FOR SALE


Detroit, MI 48202- Midtown Detroit
$11,000,000 USD
248-505-2509
710 E Ferry St, Detroit, MI for Sale
$11,000,000 USD
Apartments - FOR SALE
1/3
null | 7.53% Cap Rate

710 E Ferry St
Detroit, MI 48202
Midtown Detroit


HIGHLIGHTS

  • Newly built in 2017
  • Annual rents are going up.

OVERVIEW

Rare Investment Opportunity in Midtown Detroit’s Cultural Arts District – 100% Occupancy! Introducing one of Detroit’s most exciting investment opportunities—a meticulously maintained property in the heart of Midtown Detroit’s thriving Cultural Arts District. Just steps from the world-renowned Detroit Institute of Arts, University Prep, and the College for Creative Studies, this property stands at the crossroads of culture, academia, and economic growth. Unmatched Investment Stability with Long-Term Tax Benefits This development is among the first in Detroit to be accepted for the new PILOT program, ensuring stabilized property taxes for at least 15 years, with options to extend. The existing PA 210 tax abatement is set to expire, making this transition to PILOT a significant financial advantage for investors seeking predictable long-term expenses. Why Build When You Can Invest in Proven Success? With construction costs at an all-time high, there’s no need to take on the uncertainty of new development. This newer construction property has been expertly maintained, offering immediate cash flow and a rare opportunity for sustained profitability. Investment Highlights: - 100% occupancy with a waiting list, demonstrating strong tenant - in Detroit’s booming Midtown market. - Assumable $7 million loan at 4.25% fixed interest over 15 years, with interest-only payments, ensuring maximum financial viability. - A desirable mix of one- and two-bedroom units, each with 1.5 baths, thoughtfully designed for modern renters seeking comfort and convenience. - Updated financials readily available, offering full transparency for investors to make informed decisions. A Secure, High-Value Investment in One of Detroit’s Most Coveted Locations Midtown Detroit is experiencing unprecedented demand for quality housing, fueled by its dynamic cultural scene, strong educational institutions, and economic resurgence. Don’t miss the chance to capitalize on this rare opportunity—secure your stake in Detroit’s thriving real estate market today! https://drive.google.com/file/d/1zRcBmTpGqt7DJxiH1CsdtAzjpHZC7279/view?ts=658c6873 https://www.nailahllc.com/

FOR SALE DETAILS

PRICE

$11,000,000 USD

PRICE/SF

$276 USD /SF

# OF UNITS

58

PRICE/UNIT

$189,655

CAP RATE

7.53%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Nailah Commons Rowhouses

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

2017

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

R-3

APN/PARCEL ID

03-00153-740

ASK ABOUT THIS PROPERTY

Ellen MahoneyRe/Max Commercial ConnectionMore Info
248-505-2509

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Ellen MahoneyRe/Max Commercial ConnectionMore Info
248-505-2509

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