Historical Office Sale Listing - One Woodward Office Building

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One Woodward Office Building

One Woodward Avenue, Detroit, MI 48226

N/A

332,432 SF | Office

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Office Property - Off Market

Price:
N/A
Building Size:
332,432 SF
Property Type:
Office
Property Sub-type:
Office Building
Property Use Type:
Investment
Cap Rate:
10%
Occupancy:
61%
Building Class:
B
Tenancy:
Multiple
Listing ID
17687466
Last Updated
over 1 year ago

Description

Value Add CBD Office in Detroit, MI. Existing current NOI of $1,059,960 +/- (61% +/- occupancy) with tremendous upside. Stablilized NOI of $2,592,876 +/- (85% occupancy). With a potential tax appeal reducing the market value of the building to $10M, the current NOI would be $1,440,945 +/-. Could be purchased below replacement cost. Diversified rent roll.

One of the taller buildings in the Detroit CBD/27 floors with beautiful interior and exterior architecture (designed by Minoru Yamaski). Spectacular floor to ceiling window views of the City, the Detroit River and Windsor, Canada. 92 on-site parking spaces and abundant parking exists in neighboring garages and lots. Many businesses are moving downtown such as: B;lue Cross Blue Shield, Quicken Loans, Chrysler, University of Phoenix.

Map of One Woodward Avenue, Detroit, MI 48226 (Wayne County)

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Created 6/1/2012