525 W Lafayette Boulevard, Detroit, MI 48226
525 W Lafayette Boulevard, Detroit, MI 48226
525 W Lafayette Boulevard, Detroit, MI 48226
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Alec Applebaum

Alec Applebaum

+1(248) 866-8784
$680,000
Est. payment /mo
2,209 SqFt
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UPDATED:

Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

Square Footage 2,209 sqft

Price per Sqft $307

MLS Listing ID 20251054194

Year Built 1927

Annual Tax Amount $2,179

Lot Size 1,306 Sqft

Acres 0.03

Lot Dimensions 100x100

Source Realcomp

Property Description

Exceptional investment opportunity in the Fort Shelby Residences, located in the heart of Detroit's Central Business District. This offering includes two high-floor condos situated just below the penthouse level. Both units are fully leased through July 2026, providing immediate and reliable cash flow.Residents benefit from the amenities of the Hilton DoubleTree Hotel located below the residences, including lobby reception, coffee shop, restaurant and bar, business and reception center, and fitness room. The residential floors sit above the hotel in the historic Albert Kahn tower, offering additional privacy.These units enjoy extremely low property taxes—less than $3,000 per unit per year—thanks to the NEZ-Rehab tax abatement in place through 2032. The HOA does not restrict long-term leasing; short-term rentals are not permitted.With continued development throughout West Downtown, including the Cambria Hotel, Water Square Apartments at the former Joe Louis site, and the Ralph C. Wilson Jr. Centennial Park, these condos are well-positioned for appreciation. As individual condominium units, they may also be sold separately in the future to maximize resale value.

Location

State MI

County Wayne

Zoning Multi-Family

Direction COndos are above teh Hilton DoubleTree Hotel

Rooms

Basement Basement

Exterior

View Y/N No

Building

Foundation Block

Water Public

Structure Type Brick,Stone

Schools

School District Detroit

Others

Tax ID W04I000118S045

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Listed by Berkshire Hathaway HomeServices The Loft Warehouse

Nearby School & Business

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Alec Applebaum

Alec Applebaum

+1(248) 866-8784

Broker | License ID: 6502389085

Broker License ID: 6502389085

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Name

Phone*

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