Asset Type: Real Estate
Estate: Leasehold
Year Built: 1924
Land Area: 0.21 Acres
Number of Units: 4
Property Type: Retail
Occupancy %: 100
Year Renovated: 2010
Number of Floors: 2
Property Size: 17,000 SF
Investment Highlights
- Historic character with prime frontage on Riopelle Street
- Solid construction dating back to 1924
- Full renovation in 2010, roof replaced, utilities updated, buildouts updated, etc.
- Located in an Opportunity Zone
- Minutes from Downtown and Midtown Detroit
- Over 3,000 SF of roof space for a terrace with views to the city.
- Strong pedestrian exposure with over 2M+ annual visitors to Eastern Market
- Flexible interior layouts for multiple tenants
- Well-maintained building systems supporting retail use
- Functional basements under each suite for excess storage
- Contiguous to the new Marrow in the Market high end meat market/restaurant
Eastern Market Historic Retail & Restaurant Center
2462–2472 Riopelle Street presents a 17,000-square-foot Class B retail building in the heart of Detroit's Eastern Market
— the largest historic public market district in the United States, drawing 2 million+ visitors annually and up to 40,000
pedestrians on a single peak Saturday.
Built in 1924 and renovated in 2010, the property is anchored by Detroit City Distillery, Henry the Hatter, and Midnight
Temple Indian Gastropub, with a 1,250 SF executive suite and 3,000 SF rooftop terrace as value-add upside — all within
a federally designated Qualified Opportunity Zone. The tenants are on short-term leases, allowing an investor to fully
reposition the property within 1-2 years. The upper level is available for immediate repositioning within 60 days.
With Flower Day drawing 300,000+ visitors each May, Eastern Market After Dark pulling 33,000+ each fall, and 500+
independent vendors and merchants operating district-wide year-round, the surrounding foot traffic is unmatched
anywhere in Detroit.
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