17526 7 Mile RdDetroit, MI 48205

Property Details for 17526 7 Mile Rd

Year built

1956

Lot size

0.04 AC

Property size (Sq ft)

1,300 SF

Zone code

B4

Property type

Retail space

APN

22017111.

APU

22017111

Description

This exceptional 1,300 square foot retail property, located at 17526 Seven Mile Road in Detroit, Michigan, presents a compelling investment opportunity. Built in 1956, this single-story building sits on a 0.04-acre lot and is zoned B-4, offering considerable flexibility for a variety of retail uses. The asking price is $67,500, translating to a price per square foot of $51.92. The property features a convenient delivery area located at the rear of the building, enhancing operational efficiency. This turn-key retail space is ready for immediate occupancy, eliminating the need for extensive renovations or upgrades. The property's location in Detroit, within Wayne County, and its proximity to major thoroughfares, ensures high visibility and accessibility for potential customers. The 48205 zip code offers a strong demographic profile, making this an ideal location for a thriving retail business. This is a rare opportunity to acquire a well-situated, established retail space at an attractive price point in a dynamic urban market. The property's single-story design and ample square footage provide a versatile layout adaptable to various retail concepts. Don't miss this chance to own a piece of Detroit's vibrant commercial landscape.

• CAP approach

  CAP return

  Valuation

  6%

  $291,235

  6.5%

  $268,832

  7%

  $249,630

• Comparable approach

  Method

  Valuation

  Relative Method

  $126,466

  Geo Method

  $126,466

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $516,672

  Mixed-Use / Specialty

  $270,936

  Hospitality / Lodging

  $202,764

  Office

  $272,516

  Institutional / Educational

  $282,759

  Residential Income

  $330,828

  Multifamily

  $379,802

  Automotive / Energy

  $242,365

  Parking / Income-Based Land

  $80,611.80

  Restaurant / Food Service

  $147,451

  Healthcare / Senior Housing

  $274,700

Location Insight

City

Detroit

County

Wayne

State

Michigan

Latitude

42.4304

Longitude

-83.2156

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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