19033 7 Mile RdDetroit, MI 48219

Property Details for 19033 7 Mile Rd

Year built

1959

Lot size

0.08 AC

Property size (Sq ft)

2,404 SF

Zone code

B4

Property type

Retail properties

Property subtype

Bars

APN

22016431-2

APU

220164312

Description

This exceptional storefront retail property, located at 19033 W. Seven Mile Road in Detroit, Michigan, presents a compelling investment opportunity. Boasting 2,404 square feet of space, this property is priced at $125,000, or $52 per square foot. The building features a 10-foot clear height, providing ample space for various retail configurations. Convenient street parking is readily available for customers and employees. Previously utilized as a bar/lounge, the space offers a versatile layout adaptable to a wide range of retail uses. The property's location in Detroit, within Wayne County, zip code 48219, ensures high visibility and accessibility for potential customers. The address is 19033 W Seven Mile Rd, Detroit, MI 48219. This property is offered for sale and represents a strong value proposition for investors seeking a well-situated retail space in a dynamic urban market. The geographic coordinates are 42.4296072 latitude and -83.2292713 longitude. This is a fantastic opportunity to acquire a ready-to-occupy retail space in a high-traffic area.

• CAP approach

  CAP return

  Valuation

  6%

  $604,958

  6.5%

  $558,422

  7%

  $518,535

• Comparable approach

  Method

  Valuation

  Relative Method

  $566,673

  Geo Method

  $566,673

• Alternative Use

  Use

  Valuation

  Residential

  $471,050

  Hospitality

  $431,479

  Educational

  $358,986

  Medical

  $371,332

  Retail

  $558,422

Location Insight

City

Detroit

County

Wayne

State

Michigan

Latitude

42.4295

Longitude

-83.2294

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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