Anchoring the corner of Broadway and Grand River, the old Merchants Building recently hit the market asking $4M -- a surprisingly humble price for 51,000 square feet in Dan Gilbert's backyard. Wrapped in terra cotta, the building comes with several street-level storefronts (most of which are occupied) and 7 floors of office space (60% occupied). Many of those offices look out onto nearby parking structures, but the views were a bit more exciting when the building rose in 1922.
· Merchants Building Info [City of Detroit]
· Listing: 206 E Grand River Avenue [Forum Group]