Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1647 E Seven Mile Rd Highland Park, MI 48203

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    2,739 SF commercial building in a rapidly developing Detroit area.

    Property size:
    2,739 SF
    Lot size:
    0.11 Acres

    Property Features for 1647 E Seven Mile Rd

    General Information

    Standard status
    Active
    Size
    2,739 SF
    Lot size
    0.11 Acres

    Building Details

    Year built
    1946

    We can help!

    Listing Contact
    William Evans
    Source: Exitrealty

    Listing Agency: EXP Realty Listing Agent: William Evans

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

    Learn more

    Overview

    Detroit Commercial Building Investment Opportunity

    Located at 1647 E 7 MILE Road in Detroit, Michigan, this 2,739 SF commercial building presents a prime investment opportunity in a rapidly developing area. The property benefits from high visibility and foot traffic, making it suitable for various business ventures. The interior has been recently demo'd, providing a blank canvas for customization. The building features a recently repaired roof, a new 200-amp electrical panel, and a vaulted exposed original wood panel ceiling. The property is located in a neighborhood with well-maintained businesses, offering a great opportunity for quick closing. This property is suited for a profitable recreational space, a vibrant community hub, or a unique commercial venture.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Highland Park
    County
    Wayne
    State
    Michigan
    Longitude
    -83.1022
    Latitude
    42.4222

    Nearby Similar for Sale

    • $800,000
      6,655 SF

      Commercial Plaza in Highland Park

      Well-maintained commercial plaza with high visibility and easy access.
      16600 Hamilton Ave, Highland Park, MI 48203
      View Details
    • $74,900
      3,840 SF

      Highland Park Quadruplex Opportunity

      Four-unit property near Woodward Ave and M-8 in Highland Park.
      247 Midland St, Highland Park, MI 48203
      View Details
    • $800,000

      Highland Park Commercial Plaza Opportunity

      Four-unit commercial plaza in high-traffic location, ideal for owner-users.
      16600 Hamilton Ave, Highland Park, MI 48203
      View Details
    • $105,900
      1,734 SF

      Highland Park Commercial Opportunity

      Commercial property in Highland Park near Boston Edison district.
      13230 Hamilton Ave, Highland Park, MI 48203
      View Details
    • $1,800,000

      Highland Park Industrial Property For Sale

      16,269 SQFT industrial property, ideal for manufacturing and distribution.
      14050 Oakland St, Highland Park, MI 48203
      View Details
    • $1,800,000
      16,289 SF

      Highland Park Industrial Property For Sale

      16,269 SF industrial property on 1.1 acres in Highland Park.
      14050 Oakland St, Highland Park, MI 48203
      View Details
    • $69,900
      2,282 SF

      Highland Park Duplex Investment Opportunity

      Tenant-occupied duplex in Highland Park, MI. Great investment opportunity!
      46 W Arizona St, Highland Park, MI 48203
      View Details
    • $65,000
      2,500 SF

      Non-Operational Car Wash Opportunity

      Five-bay car wash for sale in high-traffic Detroit location.
      1750 E Seven Mile Rd, Highland Park, MI 48203
      View Details
    • $5,900,000

      Renovated Office Building in Highland Park

      Turnkey office space with customization options on 4.2 acres.
      14310 Hamilton Ave, Highland Park, MI 48203
      View Details
    • $255,000
      15,504 SF

      Industrial Building Near Woodward Avenue

      Industrial building suitable for manufacturing, storage, or automotive uses.
      15 Ferris St, Highland Park, MI 48203
      View Details
    • $249,999

      Highland Park Commercial Building For Sale

      Versatile commercial building on Woodward Avenue, Highland Park.
      13808 Woodward Ave, Highland Park, MI 48203
      View Details

    FAQs

    What type of property is this?
    Retail space - 2,739 SF commercial building in a rapidly developing Detroit area.
    Where is this retail space located?
    The property is located at 1647 E Seven Mile Rd Highland Park, MI.
    What are key features of this property?
    This property features: - Prime location in a rapidly developing and highly desirable area of Detroit with high visibility and foot traffic.; - 2,739 SF commercial building offering a blank canvas for a new business venture.; - Recently repaired roof and new 200-amp electrical panel.
    (248) 629-0791
    Request Owner's contact information
    1647 E Seven Mile Rd Highland Park, MI 48203
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1647 E Seven Mile Rd
    Highland Park, MI 48203
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    1647 E Seven Mile Rd Highland Park, MI 48203
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    William Evans
    Real Estate License ID: 6501446623
    (248) 629-0791
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!