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23946-23948 Michigan Ave 6,984 SF 40% Leased Retail Building Dearborn, MI 48124 $1,650,000 ($236.25/SF)



Executive Summary
Turnkey Investment Opportunity in Dearborn’s Thriving Commercial Corridor! This 6,984 SF commercial property offers a rare, income-producing opportunity in the heart of Dearborn’s bustling business district. The property features two buildings, a high-visibility billboard, and a private parking lot—perfectly positioned to attract both tenants and customers. The corner building is leased by H&R Block, a long-term tenant with over 30 years of occupancy. They recently renewed their lease, providing a stable and reliable
income stream.Additionally, H&R Block leases the prominent billboard above the property, adding to your revenue potential. The second building offers flexible space and can be divided into two additional units, maximizing rental income. Ideal for medical offices, studios, retail shops, or professional services, this property’s versatility appeals to a wide range of businesses. A dedicated parking lot located behind the buildings enhances accessibility for both tenants and customers, further increasing the property’s desirability.
Don’t miss out on this exceptional investment opportunity in one of Dearborn’s most sought-after business locations. Schedule your private tour today!
income stream.Additionally, H&R Block leases the prominent billboard above the property, adding to your revenue potential. The second building offers flexible space and can be divided into two additional units, maximizing rental income. Ideal for medical offices, studios, retail shops, or professional services, this property’s versatility appeals to a wide range of businesses. A dedicated parking lot located behind the buildings enhances accessibility for both tenants and customers, further increasing the property’s desirability.
Don’t miss out on this exceptional investment opportunity in one of Dearborn’s most sought-after business locations. Schedule your private tour today!
Property Facts
Sale Type
Investment or Owner User
Sale Condition
Lease Option
Property Type
Retail
Property Subtype
Storefront
Building Size
6,984 SF
Building Class
C
Year Built
1954
Price
$1,650,000
Price Per SF
$236.25
Percent Leased
40%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.92
Lot Size
0.18 AC
Zoning
BB, Dearborn - General Business District
Parking
4 Spaces (0.57 Spaces per 1,000 SF Leased)
Frontage
46’ on Michigan Ave
Amenities
- Corner Lot
- Signage
- Air Conditioning
Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Numbers | Improvements Assessment | $0 | |
| Land Assessment | $0 | Total Assessment | $322,400 |
Property Taxes
Parcel Numbers
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$322,400
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23946-23948 Michigan Ave
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