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19700 W 7 Mile Road Detroit, MI 48219 2762
6,849 SqFt
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Key Details
Property Type Commercial
Sub Type Commercial/Industrial
Listing Status Active
Purchase Type For Sale
Square Footage 6,849 sqft
Price per Sqft $109
Subdivision Mi
MLS Listing ID 61031434
Annual Tax Amount $5,600
Lot Size 7,405 Sqft
Acres 0.17
Lot Dimensions 82X90
Property Sub-Type Commercial/Industrial
Property Description
Excellent opportunity to acquire a fully occupied, four-unit commercial plaza in Detroit. Offering approximately 6,849 square feet, this established investment property generates 4800.00 per month in rental income, totaling 57,600.00 annually. The property consists of four commercial addresses: 19700, 19704, 19710, and 19714 W. Seven Mile Road. One established tenant occupies three of the four units, with all spaces currently leased under one-year agreements. The building underwent extensive updates in 2016, including new appliances and updated electrical and plumbing systems. A new roof was completed in 2018, adding to the property's appeal. Current rental rates offer an opportunity for increased revenue. Tenants are reportedly aware of potential rental adjustments and have expressed interest in remaining at the property. Longer-term lease agreements are recommended to provide additional income stability. An opportunity for investors seeking an established commercial asset with immediate rental income and potential for future growth.
Location
State MI
County Wayne
Area Detroit (82001)
Zoning Commercial
Building
Foundation Slab
Water Public Water
Structure Type Brick
Others
Ownership Private
Financing Cash,Conventional
Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource.
Listed by Vanguard Realty Group