2932 Caniff Ave, Hamtramck, MI 48212 For Sale

2932 Caniff

Property Highlights:

Fully renovated 2 story 7,000 sf building located in the Central Business District of Hamtramck, Michigan. The building is ADA compliant, completely remodeled in 2018 with upgraded heavy duty electrical panels, plumbing, commercial restrooms, and modern, industrial decor. 2nd floor remodeled into 7 artist suites. Full basement for storage. New roof in 2018. New boiler in 2021. New high efficiency furnace and AC system in 2025. Maintenance free.

First Floor

4,000 SF open concept commercial space with industrial modern decor. Separate storage rooms and office. Large commercial ADA restrooms. Site is ideal for any business, music venue, bar, restaurant, retail, coffee shop,,etc. Main level is currently operating as one of the top music venues in the Detroit area.

Second Floor

3,200 SF featuring seven separate remodeled artist workspaces/offices with wood flooring and high ceilings, plus a central commercial restroom and 2 storage rooms. The 7 suites have been fully leased since 2018 with a waiting list (generates $3,050/mo.) $36,600/yr. Long term 7 year rental agreements in place so guaranteed immediate and long term income.

Full Basement

~3,200 SF storage

Recent Upgrades

• New roof (2018)

• New boiler (2021)

• New High-efficiency furnace (2025)

• New HD AC system (2025)

• Large ADA compliant commercial restrooms

• Upgraded electrical with multiple panels

• Upgraded plumbing to accommodate high volume of customers

The property may be purchased as a stand alone property with rental income or as a turn key business ready to go.

Option 1 - Commercial Property - $600,000.

7,000 SF building with 4,000 SF open retail space on the 1st floor and 3,200 SF on the 2nd floor remodeled into 7 suites/offices. Use the 1st floor for your business. The 2nd floor generates $3,000/mo. with long term tenants and 7 year leases. Immediate income of $36,000/yr. while starting your business. Alternatively, rent out both floors and generate passive income as a landlord. The first floor rents for $5,000/mo. Earn $96,000/yr. as rental property and pay off the property in under 7 years.

Option 2 - Property & Turn Key Music Venue - $725,000.

Rare opportunity to own one of the top music venues in the Detroit area currently hosting over 250 shows a year with more than 25,000 customers annually. This is a highly successful bar business with a Class C liquor license and Sunday Sales, takeout sales permit, all FFE, complete high volume bar, state of the art sound and lighting, stage and green room. The bar is setup with 2 separate bartender stations for high volume service. 4 new coolers, 2 ice machines, 2 soda gun systems, 2 POS systems, security cameras throughout, wireless networks, nest thermostats, and walk through metal detector. High profit margin business that sells more beer than any other bar in Hamtramck. Situated in the Central Business District, Hamtramck is a cultural hub known for its thriving nightlife and music scene. The city hosts major music events and festivals throughout the year that draws thousands.

1st floor 2024 Gross Revenue = $857,000 with Net Profit = $270,000. Combined with the 2nd floor rental income, the property and business generated Net Revenue = $366,000 in 2024. Pay off your investment in 2 years!

The music venue has a legendary history starting with Paycheck’s Lounge, the punk music venue highlighted in Rolling Stone magazine that hosted early performances by The Romantics, 10,000 Maniacs, the Butt Hole Surfers and Jack White to name a few. The current venue, the Sanctuary is one of Detroit’s most popular music venues, awarded Top Club for Metal for the past 5 years. Check out the positive reviews on social media.

Continue the legacy and live your dream of running a successful and profitable concert venue and bar business.

Don’t miss this opportunity.