For Sale
2987 Franklin Street, Detroit, MI 48207
$1,250,000
MLS # 20261005523 (Realcomp)
Built 19430.1 acres
1 / 21
Listing Description
Welcome to this excellent commercial space in Rivertown, located right next to the nationally renowned Detroit Riverwalk and mere minutes from downtown Detroit, and the Eastern Market. Open to multiple uses, such as office, retail, creative, or light industrial, this space can be combined with additional adjacent spaces (see photo 21: Section 3 can be purchased solo for $950K or in combination with this unit (Sections 1, 2 + 4) for a discounted $1.99M and a whopping 12,000 sqft). Currently filled with a month to month lease. Purchase includes 2 parking spaces in the attached gated parking lot.
Source: SparkMLS
About this home
Currently offered at $1,250,000.
Annual property taxes run approximately $25,822 ($2,152/month). Estimate is based on county assessor records and current millage rates; actual tax may vary with PRE status and recent assessment changes.
Electric service is provided by DTE Electric Company; natural gas by DTE Gas Company. Broadband is available with download speeds up to 1,200 Mbps from 8 providers.
Listing Property Details
Property TypeCommercial Sale
Bathrooms0
Lot Size0.1 acres
Year Built1943
Location
CityDetroit
Zip Code48207
CountyWayne
School DistrictDetroit
Construction & Systems
ConstructionBrick
Sale & Financing
Listed1/26/2026
Source: SparkMLS
Tax Information
Annual Tax$13,681
Tax Year2025
State Equalized Value$314,200
Assessed Value$314,200
Parcel #11000072.001
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 Jay Taylor
Good Company
Frequently Asked Questions about 2987 Franklin Street, Detroit, MI 48207
Which school district serves 2987 Franklin Street, Detroit, MI 48207?
Per MLS# 20261005523, 2987 Franklin Street, Detroit, MI 48207 is in the Detroit boundaries. School district assignments are determined by property location and may differ from the mailing city. Contact Detroit directly to confirm enrollment eligibility.
What are the property taxes at 2987 Franklin Street, Detroit, MI 48207?
Per public tax records, annual property taxes for this property are $11,607. 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.
Can I use a USDA Rural Development loan for this property?
Per USDA Rural Development boundary data, 2987 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.
Is 2987 Franklin Street, Detroit, MI 48207 in a flood zone?
Per FEMA flood maps, this property is designated as Zone X, a minimal-risk flood area. 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.
What internet service is available at this address?
Per FCC Broadband Data Collection filings, fiber internet is not currently available at 2987 Franklin Street, Detroit, MI 48207. The maximum advertised download speed is 1.2 Gbps. 8 internet providers serve this address. Confirm availability and speeds directly with providers.
What utilities serve 2987 Franklin Street, Detroit, MI 48207?
Per Michigan Public Service Commission service territory data: Electric: DTE Electric Company. Gas: DTE Gas Company. Confirm service details directly with providers.
What is the crime rate in this area?
For crime and public safety data, we recommend inquiring directly with the source. Wayne County is served by CLEMIS (Courts and Law Enforcement Management Information System), which provides public safety data for Southeast Michigan law enforcement agencies.
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Tax Estimate
$
Annual tax$25,822
Monthly$2,152
Millage rate82.1844 mills
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$10,259
Principal & interest$8,107
Property taxes$2,152
Estimate only. Does not include PMI or other fees. Consult a lender for exact rates.
Internet
Download
1.2 Gbps
Upload
75 Mbps
CableLicensed Fixed WirelessGSO SatelliteSatelliteDSL
8 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
2987 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
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