22400 7 Mile RdDetroit, MI 48219

Property Details for 22400 7 Mile Rd

Year built

1969

Lot size

0.84 AC

Property size (Sq ft)

9,306 SF

Zone code

B4

Property type

Office buildings

APN

22016816-7

APU

220168167

Description

This exceptional 20,000 square foot office building presents a rare investment opportunity on Detroit's west side. Situated on a 0.48-acre lot at 22400 W Seven Mile Rd, Detroit, MI 48219, this Class B property boasts a prime location with easy access to suburban areas. The building, constructed in 1966, features two buildings with two stories each, offering versatile space suitable for traditional, executive, or creative office uses. The property includes 20 on-site parking spaces with additional land available for expansion. A significant advantage is the recently installed brand-new solar-powered heating and cooling system, promoting energy efficiency and cost savings. The building is exceptionally well-maintained and benefits from excellent signage visibility on Seven Mile Road. The property is zoned B4 and offers a unique park-like setting on an adjacent lot. This owner/user investment opportunity is priced at $925,000, with a price per square foot of $46.25. Don't miss this chance to acquire a well-positioned, energy-efficient office complex in a desirable Detroit location.

• CAP approach

  CAP return

  Valuation

  6%

  $1,593,075

  6.5%

  $1,470,531

  7%

  $1,365,493

• Comparable approach

  Method

  Valuation

  Relative Method

  $870,483

  Geo Method

  $870,483

• Alternative Use

  Use

  Valuation

  Residential Income

  $1,823,458

  Hospitality / Lodging

  $1,670,278

  Institutional / Educational

  $1,389,652

  Healthcare / Senior Housing

  $1,437,444

  Retail / Commercial

  $2,161,680

Location Insight

City

Detroit

County

Wayne

State

Michigan

Latitude

42.4296

Longitude

-83.2636

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].