17321 7 Mile RdDetroit, MI 48235

Property Details for 17321 7 Mile Rd

Year built

1950

Lot size

0.09 AC

Property size (Sq ft)

3,824 SF

Zone code

B4

Property type

Retail space

APN

22016288-9

APU

220162889

Description

This exceptional 7,784 square foot shopping center, located at 17321-17341 W. 7 Mile Road in Detroit, Michigan, presents a compelling investment opportunity. Situated in Wayne County, with a 48235 zip code, this property boasts a prime location with 124 feet of frontage on the heavily trafficked West 7 Mile Road, enjoying 24,000 daily vehicles traveling past. The center is zoned B4 and features ample surface parking with a ratio of 3.55 spaces per 1,000 square feet. The property includes prominent pylon signage, enhancing visibility and attracting customers. Currently, the center has at least one tenant, Boost Mobile, demonstrating existing occupancy and potential for further leasing. This retail space offers a strong foundation for a successful business venture, benefiting from its high-traffic location and excellent visibility. The property's size and features make it ideal for a variety of retail uses. This is a rare opportunity to acquire a well-positioned shopping center in a thriving Detroit market. The property is easily accessible and benefits from high daily traffic counts, making it an attractive location for businesses seeking strong visibility and customer reach.

• CAP approach

  CAP return

  Valuation

  6%

  $1,169,144

  6.5%

  $1,079,210

  7%

  $1,002,124

• Comparable approach

  Method

  Valuation

  Relative Method

  $901,396

  Geo Method

  $901,396

• Alternative Use

  Use

  Valuation

  Residential

  $910,354

  Hospitality

  $833,879

  Educational

  $693,778

  Medical

  $717,638

  Retail

  $1,079,210

Location Insight

City

Detroit

County

Wayne

State

Michigan

Latitude

42.4299

Longitude

-83.2144

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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