Commercial Real Estate in Detroit | Reonomy

Commercial Real Estate in Detroit

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Detroit commercial real estate sold prices and values

Values and sold prices (last 24 months) United States Arkansas Detroit
Average price/sqft $908 $731 --
Average sold price $1,082,211 $518,959 --
Median sold price $198,553 $64,596 --
Number of sales 2,792,236 40,964 --
Number of sales over $250k 1,189,680 9,281 --
Number of sales over $1m 269,060 2,652 --
Number of sales over $10m 36,917 191 --
Average total tax amount $7,139 $888 --
Average assessed value $251,540 $17,297 --
Average market value $356,178 $86,487 --

Detroit commercial real estate property averages

Property averages United States Arkansas Detroit
Average lot size -- 935,456 sf --
Median lot size -- 67,625 sf --
Average building area -- 315 sf --
Median building area -- 30 sf --
Median year built 1970 1986 --
Average number of units -- 21 --
Median number of units 2 3 --

Detroit commercial real estate total supply

Supply United States Arkansas Detroit
Number of parcels 58,466,290 1,174,111 --
Aggregate lot acerage -- 15,448,893 --
Aggregate building area -- 25,709,719 sf --
Aggregate units 89,982,073 321,253 --

Detroit commercial real estate industrial mortgages

Debt United States Arkansas Detroit
Number of mortgages 41,919,085 376,460 --
Average value of mortgages $5,197,153 $5,653,340 --

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