FOR SALE

FOR SALE
Spaulding Electric Warehouse
1350 Michigan Avenue
Detroit, MI 48226
Presented by:
Greg Newnam
[email protected]
www.keystonecres.com
31000 Northwestern Highway
Suite 200
Farmington Hills, MI 48334
Information contained herein was obtained from sources deemed to be reliable but is not guaranteed.
Subject to prior sale, change of price or withdrawal.
TABLE OF CONTENTS
Spaulding Electric Warehouse
1350-1364 Michigan Avenue
Detroit, MI 48226
Property Summary
1
Business Summary
2
Property Photos
3
Zoning Map
4
Property Boundaries
5
Aerial
6
Area Map
7
Trade/Traffic Counts
8
Demographic Report
9
PROPERTY SUMMARY
1350-1364 Michigan Avenue, Detroit, Michigan
Located in Corktown, which is Detroit's oldest neighborhood, this property consists of
2 parcels on .58 acres with a 20,107 sf building. Just one block east of the former Tiger’s Stadium, this property is an area that has had a resurgence of residential and
business growth. Built in 1887 & 1897. The majority of the building consists of 2
stores with a 3rd story above the northern most portion and a basement under the
southern most portion. Additionally, the western side of the property contains a surface parking lot. Some of the area tenants include Nemo’s, Slows BBQ, Gold Cash
Gold, Bucharest Grill, Two James Spirits, La Petit Zinc, Sugar House, and many more.
Trade Area Demographics:
Radius
Income
Population
Avg. HH
1 Mile
12,477
$44,104
3 Mile
87,383
$35,683
5 Mile
249,477
$34,603
Greg Newman – [email protected]
Extension –103
www.keystonecres.com ph: 248.356.8000 fax: 248.353.7991
31000 Northwestern Highway Suite 200 Farmington Hills, MI 48334
Information contained herein was obtained from sources deemed to be reliable but is not guaranteed. Subject to prior sale, change of price or withdrawal.
1
BUSINESS SUMMARY
Spaulding Electric Warehouse
1350-1364 Michigan Avenue
Detroit, MI 48226
Location: North side of Michigan Avenue, between Brooklyn Avenue and 8th
Street.
Sale Price: $1,500,000 CASH
Lot Size: 0.58 Acres on 2 parcels
Eastern Parcel (Ward/Item No. 06000414) occupied by the building on the
majority of the parcel. Approximately 11,326 SF
Western Parcel (Ward/Item No. 06000413) contains a surface lot, currently
used by Nemo’s Customers. Approximately 6,970 SF
Building Size: 20,107 SF—The majority of the building consists of 2 stories with a
3rd story above the norther most portion and a basement below the south most
portion.
Year Built: 1887 and 1897
Zoning: B-4
2015 Real Estate Taxes: Eastern Parcel: $4,090.54
Western Parcel: $1,411.79
2
PROPERTY PHOTOGRAPHS
3
ZONING MAP
SITE
4
PROPERTY BOUNDARIES
Spaulding Electric Warehouse
1350-1364 Michigan Avenue
Detroit, MI 48226
5
AERIAL
Spaulding Electric Warehouse
1350-1364 Michigan Avenue
Detroit, MI 48226
SITE
6
AREA MAP
Spaulding Electric Warehouse
1350-1364 Michigan Avenue
Detroit, MI 48226
7
TRADE/TRAFFIC COUNTS
Spaulding Electric Warehouse
1350-1364 Michigan Avenue
Detroit, MI 48226
SITE
54,100 VPD, 2012
8,311 VPD, 2012
8
DEMOGRAPHICS
1350 Michigan Ave
1 mi radius
3 mi radius
5 mi radius
POPULATION
Detroit, MI 48226-1019
2015 Estimated Population
12,477
87,383
249,477
2020 Projected Population
12,325
88,064
258,271
2010 Census Population
10,729
83,187
240,358
2000 Census Population
11,631
101,813
312,755
Projected Annual Growth 2015 to 2020
-0.20%
0.20%
0.70%
Historical Annual Growth 2000 to 2015
0.50%
-0.90%
-1.30%
42.5
36
35.2
2015 Estimated Households
7,287
41,244
101,421
2020 Projected Households
7,311
42,179
106,855
2010 Census Households
5,945
37,786
94,039
2000 Census Households
5,156
41,852
115,876
INCOME
RACE AND ETHNICITY
HOUSEHOLDS
2015 Median Age
Projected Annual Growth 2015 to 2020
0.10%
0.50%
1.10%
Historical Annual Growth 2000 to 2015
2.80%
-0.10%
-0.80%
2015 Estimated White
32.10%
28.00%
29.60%
2015 Estimated Black or African American
59.40%
56.80%
55.80%
2015 Estimated Asian or Pacific Islander
2.70%
2.70%
3.20%
2015 Estimated American Indian or Native Alaskan
0.50%
0.50%
0.50%
2015 Estimated Other Races
5.30%
11.90%
10.90%
2015 Estimated Hispanic
7.50%
18.70%
16.60%
2015 Estimated Average Household Income
$44,104
$35,683
$34,603
2015 Estimated Median Household Income
$27,588
$25,206
$26,003
2015 Estimated Per Capita Income
$27,011
$17,407
$14,403
BUSINESS
EDUCATION
(AGE 25+)
2015 Estimated Elementary (Grade Level 0 to 8)
4.20%
8.00%
10.10%
2015 Estimated Some High School (Grade Level 9 to 11)
13.10%
14.70%
16.30%
2015 Estimated High School Graduate
20.60%
27.20%
30.10%
2015 Estimated Some College
25.70%
23.10%
22.20%
2015 Estimated Associates Degree Only
7.10%
6.20%
6.10%
2015 Estimated Bachelors Degree Only
15.90%
10.10%
8.30%
2015 Estimated Graduate Degree
13.40%
10.70%
6.90%
2015 Estimated Total Businesses
2,036
7,526
11,251
2015 Estimated Total Employees
50,091
168,905
213,232
24.6
22.4
19
6.1
11.6
22.2
2015 Estimated Employee Population per Business
2015 Estimated Residential Population per Business
9