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The Press/321

Off-Market

321 West Lafayette Blvd, Detroit, MI 48226

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  • Property Type Office - General Office
  • Property Size 153,252 SF
  • Lot Size 0.63 Acre
  • Parking Spaces Avail. 347
  • Parking Ratio 2.27/ 1,000 SF
  • Property Tenancy Vacant
  • Building Class B
  • Year Built 1925

Location

  • City Detroit, MI
  • Neighborhood Downtown Detroit
  • Zip Code 48226
  • 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 26 Sep, 2016
  • 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 $147,689
  • Market Value* $3,874,800
  • Assessed Value $3,874,800

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 The Press/321?

The Press/321 totals 153,252 square feet.

When was this property built?

The Press/321 was built in 1925.

When was The Press/321 last sold?

The Press/321 was last sold on 26 Sep, 2016.

What is the property tax for The Press/321?

The property tax for The Press/321 in 2018 was $147,689.

What is the market value for The Press/321?

The market value* for The Press/321 in 2018 was $3,874,800.
*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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