2960 12 Mile RdBerkley, MI 48072

This exceptional 12,761-square-foot retail property, situated on a full city block (0.9 acres) in vibrant Downtown Berkley, Michigan, presents a unique investment opportunity. Originally the historic Berkley Theater, the building retains its iconic marquee and offers a mix of retail spaces. A large, approximately 10,696-square-foot anchor space, formerly a Rite Aid, is available, along with three smaller (approximately 671 square feet each) currently leased retail suites. The property boasts dedicated surface parking on Twelve Mile Road—a rare find in a downtown setting—and benefits from high foot traffic. Built in 1941 and renovated in 1993, the single-story building is classified as Class A and sits on three parcels. The asking price is $2,950,000. The property is vacant except for three long-term tenants in the smaller suites. The former Rite Aid space is expected to be vacant by September 10, 2024. The property's zoning is Downtown Use, and its prime location within a densely populated area offers significant potential for various retail uses. The existing shelving and coolers in the former Rite Aid space will remain. The city of Berkley leases the theater marquee and has expressed interest in continuing this arrangement with a new owner or tenant. This property offers a compelling blend of history, prime location, and redevelopment potential.