13641 7 Mile RdDetroit, MI 48205

Property Details for 13641 7 Mile Rd

Year built

1958

Lot size

0.10 AC

Property size (Sq ft)

2,420 SF

Zone code

B4

Property type

Retail properties

Property subtype

Retail space

APN

21021093.

APU

21021093

Description

This exceptional 2,420 square foot retail property, located at 13641 Seven Mile E, Detroit, MI 48205, presents a unique investment opportunity. Situated on a 0.37-acre lot, this single-tenant building offers a spacious and versatile layout, currently vacant and ready for immediate occupancy. Built in 1955, the property is classified as Class C and features a single story design. The building boasts ample parking, a significant advantage for attracting customers and employees. The property is zoned B4 and benefits from 220-volt power. Its convenient location in the Detroit E of Woodward submarket, with easy access to Schoenherr Rd, provides excellent visibility and accessibility. Previously used as an urgent care facility, this adaptable space offers numerous potential uses for a variety of businesses. The property is located in Wayne County, Michigan. This is a rare opportunity to acquire a well-positioned retail space in a thriving area of Detroit. The substantial square footage and ample parking make this property an attractive option for businesses seeking a prominent presence in a high-traffic location.

• CAP approach

  CAP return

  Valuation

  6%

  $739,887

  6.5%

  $682,973

  7%

  $634,189

• Comparable approach

  Method

  Valuation

  Relative Method

  $570,444

  Geo Method

  $570,444

• Alternative Use

  Use

  Valuation

  Residential

  $576,113

  Hospitality

  $527,717

  Educational

  $439,054

  Medical

  $454,154

  Retail

  $682,973

Location Insight

City

Detroit

County

Wayne

State

Michigan

Latitude

42.4352

Longitude

-82.9842

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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