4120 2nd Ave
Detroit, MI 48201
Mad Nice · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Investment opportunity - purchase real estate with approximately 8 years of lease term remaining with Mad Nice as Tenant.
- Passive investment. Tenant maintains building interior and exterior, including CAM.
- Two blocks from $14 million mixed use development – 57 apartments – Target date – 2025.
- Nearly $2 million building renovation and remodel completed by tenant in 2022.
- Approximately 8 years remaining on current lease term with four 5-year options.
- Five blocks from proposed 16-story apartment and six-story mixed-use development at Woodward and Mack Avenue.
EXECUTIVE SUMMARY
Below market restaurant rental rate - under $20 per square foot. Mad Nice Lease expiration February 28, 2033. Annual rent $180,000, NN Asking price - Contact Broker.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
9,000 SF
Building Class
C
Year Built
1950
Tenancy
Single
Building Height
1 Story
Building FAR
0.59
Lot Size
0.35 AC
Opportunity Zone
Yes
Zoning
Commercial - Commercial
Parking
16 Spaces (2.16 Spaces per 1,000 SF Leased)
Frontage
151’ on 2nd Ave
PROPERTY TAXES
| Parcel Number | 02-002364 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $313,700 |
