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51 West Hancock Street

Off-Market

51 West Hancock Street, Detroit, MI 48201

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  • Property Type Office - General Office
  • Property Size 30,423 SF
  • Lot Size 0.42 Acre
  • Parking Spaces Avail. 27
  • Parking Ratio 0.90/ 1,000 SF
  • Property Tenancy Multi-Tenant
  • Building Class B
  • Year Built 1973

Location

  • City Detroit, MI
  • Neighborhood Lower Woodward
  • Zip Code 48201
  • Market Detroit

Contacts

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Owner

  • True Owner
  • Registered Owner

Brokers

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Documents

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Sales

  • Purchase Date 11 Jul, 2018
  • Purchase Price
  • Arm's Length True
  • Buyer Name

Market Trends

Average Actual Rents in Detroit

Average rents use actual signed leases, aggregated for your specific search area and asset type with Yardi Market Insight. Be confident your price is competitive, with CommercialEdge.

Current Average Rent
Net Rent
$44.3/SF/YR
Recoverables Show detailsHide details
$16.7/SF/YR
CAM
$3.54/SF/YR
Insurance
$0.59/SF/YR
Taxes
$9.52/SF/YR
Utilities
$1.76/SF/YR
Management Fees
$1.3/SF/YR
Total Rent
$61/SF/YR
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Occupancy & Leasing Activity
Occupancy
83.5%
Lease Spread
-20.5%
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Asking Rents in Detroit Office Market

Office rental rates are based on aggregated data of asking rates.

  • 2020 Avg. Asking Rent $28.65
  • 2020 Office Vacancy Rate 16.80%
  • 2020 Office Completions (SF) 63,500
View more Detroit market trends

Tax

  • Property Tax in 2018 $32,573
  • Market Value* $854,600
  • Assessed Value $854,600

Find more tax info, including assessment history and abatements, on CommercialEdge

*The displayed market value represents the assessed value determined by the appropriate local tax/financial authority. It is not the property’s latest sale price or a current market value based on recent area sales.

Frequently Asked Questions

What is the total square footage of 51 West Hancock Street?

51 West Hancock Street totals 30,423 square feet.

When was this property built?

51 West Hancock Street was built in 1973.

When was 51 West Hancock Street last sold?

51 West Hancock Street was last sold on 11 Jul, 2018.

What is the property tax for 51 West Hancock Street?

The property tax for 51 West Hancock Street in 2018 was $32,573.

What is the market value for 51 West Hancock Street?

The market value* for 51 West Hancock Street in 2018 was $854,600.
*This represents the market value determined by the appropriate local tax/financial authority, and not the latest sale price or current market value based on recent sales.

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