For Sale
1938 Franklin Street, Detroit, MI 48207
$3,950,000
MLS # 20240079430 (Realcomp)
Built 19000.62 acres
1 / 14
Listing Description
The newly renovated Elevator Building offers creative workspace in the heart of Detroit's East Riverfront. The building hosts a community of creative professionals working in media, architecture, fashion, wellness, community services, and other fields. The spaces offer a modern reboot of Detroit's industrial past, featuring ample light, high ceilings, and exposed brick and beams. Capital improvements include new roof systems, energy-efficient windows, new HVAC units, and renovated bathrooms. Amenities have also been added, including a conference room, kitchenette, bike storage, high-speed wifi and a private shower room. Tenants take advantage of the building's direct proximity to the award-winning Riverwalk and the Dequindre Cut to access downtown, Eastern Market and Lafayette Park by foot, bike or scooter. Wednesday October 30th from Noon - 2:00 PM
Source: SparkMLS
About this home
Currently offered at $3,950,000.
Annual property taxes run approximately $54,313 ($4,526/month). Tax figure is from the MLS listing record; verify with the county treasurer for the most current amount.
Fiber internet is available at this address with download speeds up to 5,000 Mbps across 9 providers. Electric service is provided by DTE Electric Company; natural gas by DTE Gas Company.
Listing Property Details
Property TypeCommercial Sale
Bathrooms0
Lot Size0.62 acres
Year Built1900
Location
CityDetroit
Zip Code48207
CountyWayne
School DistrictDetroit
Construction & Systems
ConstructionBrick
WaterPublic
Sale & Financing
Listed10/20/2024
Source: SparkMLS
Tax Information
Annual Tax$0
Tax Year2025
Assessed Value$0
Parcel #23002011.015F
Source: Public Records
Property Records
FEMA Flood Zone: Zone X — Minimal flood risk
Source: FEMA NFHLUSDA Rural Development: Not Eligible
Verify eligibility at USDAListed by Vincent Mazzola
O'Connor Realty Detroit, LLC
Frequently Asked Questions about 1938 Franklin Street, Detroit, MI 48207
What school district is 1938 Franklin Street, Detroit, MI 48207 in?
Per MLS# 20240079430, this property is served by Detroit. In Michigan, school district boundaries are set by the state and do not always follow city limits.
How much are property taxes for this home?
Per MLS# 20240079430, the most recent reported annual property tax for 1938 Franklin Street, Detroit, MI 48207 is $54,313. Michigan property taxes are based on a property's taxable value multiplied by the local millage rate. Primary residences qualify for a homestead exemption that lowers the rate.
Is 1938 Franklin Street, Detroit, MI 48207 eligible for USDA financing?
Per USDA Rural Development boundary data, 1938 Franklin Street, Detroit, MI 48207 is not in an eligible area. USDA eligibility is based on property location — properties within designated urban zones are excluded. Other low-down-payment options (FHA, VA) may still be available.
What is the FEMA flood zone designation for this property?
Per FEMA's National Flood Hazard Layer, 1938 Franklin Street, Detroit, MI 48207 is in flood zone X (minimal risk). Flood insurance is not typically required in this zone but may still be advisable. FEMA flood maps are updated periodically — verify the current designation at msc.fema.gov.
Is fiber internet available at 1938 Franklin Street, Detroit, MI 48207?
Per FCC broadband data, this property has access to fiber internet service. The maximum advertised download speed is 5.0 Gbps. 9 internet providers serve this address. Confirm availability and speeds directly with providers.
Who are the utility providers for this property?
Per Michigan Public Service Commission service territory data: Electric: DTE Electric Company. Gas: DTE Gas Company. Water: Public. Confirm service details directly with providers.
How safe is this area?
Per our practice, crime and safety data should be obtained directly from the authoritative source. Wayne County law enforcement agencies participate in CLEMIS (Courts and Law Enforcement Management Information System) for public safety records.
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Tax Estimate
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Municipality: Detroit
School district: DETROIT CITY SCHOOL DISTRICT
County: Wayne
Estimate based on SEV for a new buyer (taxable value resets to SEV on transfer). Actual taxes may vary. MI Treasury PT Estimator
Mortgage Calculator
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Monthly payment$25,620
Principal & interest$25,620
Estimate only. Does not include PMI or other fees. Consult a lender for exact rates.
Internet
FiberDownload
5 Gbps
Upload
5 Gbps
FiberLicensed Fixed WirelessGSO SatelliteSatelliteDSL
9 providers at this address
FCC Broadband Data Collection (Dec 2025). Max advertised speeds.
Utilities
DTE Electric Company
Investor-Owned
DTE Gas Company
Investor-Owned
MI Public Service Commission service territory boundaries.
Property
1938 Franklin Street, Detroit, MI 48207
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Neighborhood
Near East Riverfront
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Community
Detroit
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County
Wayne County
View county overview →
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