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$ 1,350,000
Est. payment /mo
Active
13403 W 7 Mile RD Detroit, MI 48235
6,200 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type RealEstateOnly
Listing Status Active
Purchase Type For Sale
Square Footage 6,200 sqft
Price per Sqft $217
Subdivision Blackstone Park
MLS Listing ID 20261006481
Year Built 1950
Lot Size 0.540 Acres
Acres 0.54
Property Sub-Type RealEstateOnly
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.
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 Area05083Wayne
Interior
Fireplace No
Exterior
View Y/N No
Garage false
Building
Foundation Poured, Slab
Sewer Public Sewer
Water Public
New Construction No
Schools
School District Detroit
Others
Senior Community false
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition ShortSaleNo, Standard
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Listed by Nick Jaafar of Keller Williams Legacy