Mixed-Use Assemblage | Detroit CBD

The E Congress Street assemblage is the perfect investment opportunity in Detroit’s Central Business District. The assemblage comprises three adjacent assets, all grouped together for investor convenience. 410 E Congress Street is a 0.36-acre parcel of land ready for development. 440 E Congress Street, the East Congress Building, is a sizable 85,539-square-foot office building. Originally built in 1939 as a parking garage, the asset was converted to an office in 2014. There is an additional pay parking lot at 433-441 E Larned Street that is also a part of the sale. The current on-site zoning is B-6, which allows for hospitality, multifamily, and research and development/lab space. The property lends itself to several potential users, and developers alike. Appealing qualities include the substantial land capacity, flexible make-up of the building allowing for several asset re-purposing options and uses, redevelopment possibilities, and heavy floor load factor for R&D users.

Detroit is known as one of the economic and cultural powerhouses of the Midwest. The city is working hard towards redevelopment and revitalization with plenty of economic opportunity. The cost of living in the city is low compared to other metros allowing for area growth. While the Detroit area is still known as the auto capital of the world, Michigan has been ranked fourth nationwide for high-tech employment. Michigan has organized the state into 20 economic Smart Zones, five of which are in the metro Detroit region. The Smart Zones technology clusters promote resource collaboration between universities, governmental and community-based groups, research organizations, and industries. The Central Business District is an excellent place for office investment and redevelopment. This area has the most extensive office space inventory among Detroit's submarkets, with 27.9 million square of office space, representing roughly 14% of the market's total supply. Investors target Detroit's CBD, with $34.1 million worth of assets trading here over the past year from two recorded transactions.

Join other major industry leaders in Detroit. Detroit is home to many major businesses across several different industries, making it the ideal location for investment. Detroit is known as Motor City, and big names General Motors, Ford Motor Co., and Stellantis (formerly Fiat Chrysler Automobiles) all call this metro their headquarters. Finance and insurance have a major footprint with Quicken Loans (Rocket Companies), Comerica Bank, and Blue Cross Blue Shield of Michigan.

The E Congress Street assemblage benefits from its advantageous location. The strategic position in the CBD allows for access to major roadways I-75 and Route 375 which connect to the rest of Detroit as well as the Canadian border. There are many retailers, restaurants, and entertainment options close by as well creating a healthy work life balance for employees. Detroit People Mover allows quick access to major downtown destinations including the Renaissance Center, Greektown, and more. There is also excellent riverfront access with the Detroit Riverwalk close by offering incredible views of the Detroit River.

Property tours are available by appointment only, please contact the listing broker to schedule.