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    23903 W Mile Rd Detroit, MI

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    For Sale
    $790,000

    Redevelopment opportunity on high-traffic corner lot in Qualified Opportunity Zone.

    Lot size:
    0.60 Acres

    Property Features for 23903 W Mile Rd

    General Information

    Lot size
    0.60 Acres

    Source: NAI Farbman - Corporate Agent Wendy Acho

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    High-Visibility Corner Lot for Redevelopment

    This property features a 3,920 square foot building constructed in 1985, situated on a 0.60-acre hard corner lot. The site benefits from high visibility at the corner of Telegraph Road and West 7 Mile Road, with over 75,000 vehicles per day passing through the intersection. It has 199 feet of frontage on Telegraph Road and 130 feet on West 7 Mile Road. Concept plans are available for a freestanding drive-thru restaurant and a gas station/convenience store. The high-traffic corner lot is ideal for redevelopment and is located within a Qualified Opportunity Zone.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Detroit
    County
    Wayne
    State
    Michigan
    Longitude
    -83.0602998
    Latitude
    42.348495

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    FAQs

    What type of property is this?
    Commercial land - Redevelopment opportunity on high-traffic corner lot in Qualified Opportunity Zone.
    Where is this commercial land located?
    The property is located at 23903 W Mile Rd Detroit, MI.
    What is the asking price?
    The asking price for this property is $790,000.
    What are key features of this property?
    This property features: - High-visibility corner lot with 199' frontage on Telegraph & 130' on W. 7 Mile Rd.; - Over 75,000+ vehicles per day (VPD) travel through the intersection.; - Ideal for redevelopment, with concept plans available for freestanding drive-thru restaurant & gas station/c-store.
    (248) 563-0739
    Request Owner's contact information
    23903 W Mile Rd Detroit, MI
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    Detroit, MI
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    23903 W Mile Rd Detroit, MI
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