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Paul's Place may not look like a multimillion-dollar gem -- until you consider construction cranes on two sides of it in this Google Earth photo from last year.
A seven-figure deal revealed Friday is a rare type of real estate news -- the kind that kindles colorful memories, personal emotions and reactions that run from glad to mad.
Those online sentiments flow in response to word that Paul's Place, a gritty party store at Cass Avenue and Henry Street, went from dive to riches -- selling for $3.2 million after the mom-and-pop owners rebuffed lower offers. Salem and Ayser Toma, the sellers, bought the two story building and land for $200,000 in 1999.
We do the math so you don't have to: The couple reaps a 1,500-percent gain in 18 years, minus broker fees.
It's "iconic," several Deadline readers comment Saturday about the unassuming shop.
It's also a few hundred yards from Little Caesars Arena, opening this fall. That turns the high-traffic corner from a formerly sketchy site into a prime spot for a restaurant, club, condos or a bigger store selling more than snacks and 40-ounce malt.
That's is why real estate agents say "location, location, location" are the critical factors in any property sale.
Reactions fall into three general categories -- reminiscences, cheers for Salem and Ayser Toma, and jeers about changes to the area.
Below is a sampling from our social media pages and The Detroit News, where business writer Louis Aguilar broke the story Friday.
Remember when . . .
► Oh my lord, that place was too scary to go into in the '80s. -- Mike Kroll
► I remember driving by. There'd always be a large group of deviants outside -- Laura Kendall, Ferndale
► Especially after midnight. It was off-the-chain crazy. -- Eric Wazner
► Man, I used to come here on lunch breaks. God truly blessed them, man -- Branden Chambers, Detroit
► So proud. I remember stopping here before school. -- Kevin Miller, Detroit
► For those [Detroit City Football Club] fans who remember [playing at] Cass Tech, this was the prime spot to pick up booze before the match. It was right next to start of our march route. -- Dion Degenarro, Farmington
► The party store we [Detroit City Football Club fans] used to pass on the march to the match at Cass. Wow. -- 'Red'
► So long, Joe, Steven, Mama and Terry. We already miss you. -- Michael Stepniak, Detroit (Cass Corridor)
► I used to go there everyday after class -- when I went to class. -- Jessica Walker, Detroit (PR/communications student at WSU)
► This was literally iconic when I was at Cass. The line to get pizza out of here was ridiculous. Glad the owner got paid good to sell it. -- Chris Scott
► Best Pizza ever. I'm pissed they caved. (Well, best pizza for a high school kid getting out of school). -- Dayna T. Eaton
► They owe me 'bout $2K for the investments I made in the form of pizza slice purchases, lol. -- Jonathan Conway
► The hottest store at one point. -- Cashus Moore, Detroit
Woo-hoo for sellers and city
► Wow! Talk about long-term investment payoff! -- Simone Forde, Southgate
► They held out for the longest. -- Shakur Hankins
They cashed in at the right time.
— Henry Callaway II (@CoachHank) June 10, 2017
► Good for these small business owners. If Olympia wants a "monopoly" (just like in the board game) they'll have to pay a pretty penny! -- Jeffrey Faber
► You ever hear that old saying "if I can do it all over again." Well shit, send me back to the recession I would have bought a few blocks in Detroit. -- Jose Gonzaelz, Detroit
► Nice lick. l've seen this store hundreds of times, however I have never been inside. Serious land grab game happening in Detroit. -- April Woodard
► I lived in the neighborhood for many years. Without the help of Paul's, many in the neighborhood would have starved. Sam and Joe, the managers of the store, you have my thanks for all the help you gave me. I often think of my morning coffee outside your store and the many friends I left there. I wish all of you well. -- Edward Ader, Troy
► I'm happy for them. They were so nice. And $3.2 million, sheesh. -- 'Daisy'
► I'm glad to see some small biz owners make good money. -- Kathy Burnett
► Good for them! Great to see people making a buck after taking a gamble! Way to go. -- Adam Andrews
►This is the cost of real estate in the big cities. We need to get use to the idea that people want this land! It is a good thing. -- Ray Mailhot, Plymouth
► I'll bet those people are surprised as hell that spending $200K on that building in 1999 turned out to be a wise investment. -- John Ryan, Walled Lake
Boo-hoo for Cass Corridor
► Hope they save the building. -- Kenny Byer, Walled Lake
► So what next? Does the gentrification close Cass Tech High School and call it progress? -- Dennis Hampton, Pershing High graduate
► We knew this was gonna happen. I'm mad. -- 'Sydney'
Gentrification of Detroit https://t.co/M9jFFxVKuk
— Chris Bracewell (@_FastForward) June 10, 2017
► The crackhead den went for 3.2 million? WTF! -- Cadriah Jihan Searles
► What a shame. The locals in that area will end up traveling much farther for that bottle of Cisco, Night Train, Thunderbird or Wild Irish Rose now. -- Loren Jackson
► History cant be replaced, no matter how humble it may seem. -- Mark Wasiak
Original article:
Party Store Near Little Caesars Arena Sells for $3.2 Million, June 9
