19000 7 Mile RdDetroit, MI 48219

Property Details for 19000 7 Mile Rd

Year built

1961

Lot size

0.14 AC

Property size (Sq ft)

3,183 SF

Zone code

B4

Property type

Retail space

APN

22016994-6

APU

220169946

Description

This exceptional retail property, located at 19000 W Seven Mile Road in Detroit, Michigan, presents a compelling investment opportunity. The single-story building, constructed in 1961, offers 3,183 square feet of versatile space on a 0.14-acre lot. The property is zoned B-4, allowing for a wide range of commercial uses. The asking price is $125,000, translating to a price per square foot of $39.27. Key features include ample parking, enhancing customer convenience and accessibility. The building is equipped with 220-volt, 3-phase power, catering to diverse business needs. A single overhead door provides convenient access for loading and unloading. Situated in Wayne County, with a Detroit zip code of 48219, this property benefits from its strategic location. The property's single-tenancy structure offers simplicity and control for the owner. This is an ideal opportunity for investors seeking a well-located, functional retail space in a thriving Detroit market. The property's solid construction and desirable features make it a strong contender for a variety of commercial ventures. Don't miss this chance to acquire a valuable asset in a dynamic urban setting.

• CAP approach

  CAP return

  Valuation

  6%

  $800,990

  6.5%

  $739,375

  7%

  $686,563

• Comparable approach

  Method

  Valuation

  Relative Method

  $750,299

  Geo Method

  $750,299

• Alternative Use

  Use

  Valuation

  Residential

  $623,691

  Hospitality

  $571,298

  Educational

  $475,313

  Medical

  $491,660

  Retail

  $739,375

Location Insight

City

Detroit

County

Wayne

State

Michigan

Latitude

42.4302

Longitude

-83.2288

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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