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$ 1,350,000
Est. payment /mo
Active
13403 W 7 Mile Road Detroit, MI 48235
6,200 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Commercial/Industrial
Listing Status Active
Purchase Type For Sale
Square Footage 6,200 sqft
Price per Sqft $217
Subdivision Mi
MLS Listing ID 60967450
Annual Tax Amount $7,903
Lot Size 0.540 Acres
Acres 0.54
Lot Dimensions 236X100
Property Sub-Type Commercial/Industrial
Property Description
Excellent investment or owner-user opportunity offering multiple income streams with upside. The property is anchored by Bank of America, which recently renewed its lease for another 60 months, with approximately 65 months remaining plus renewal options, and has occupied the location for over 10 years. The on-site ATM generates approximately $36,000 annually. The Pharmacy, a strong and thriving tenant in place for nearly 12 years, is secured under a 72-month lease plus options and produces approximately $60,000 in annual rent, with 6% escalations after the current term. The property also features a fully built-out ~4,000 SF clinic space that is currently vacant, creating an ideal opportunity for an owner-user looking to operate a clinic or for an investor to lease the space. This suite represents approximately $72,000 per year in potential income, bringing total projected income to $168,000 annually, while current in-place income totals $96,000 annually.
Location
State MI
County Wayne
Area Wayne (82083)
Zoning Commercial
Building
Foundation Slab
Water Public Water
Others
Ownership Private
Financing Cash,Conventional
Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource.
Listed by Keller Williams Legacy