Bank Anchored Investment
13403 W 7 Mile Rd, Detroit, MI 48235
Multi-tenant property with Bank of America and pharmacy tenants.
Type:Commercial
Property size:
4,000 SFPrice / SF:
$337/SF- Added:
- Apr 24, 2026
- Days on Market:
- 19
- Last Refresh:
- Apr 24 at 3:35 pm
Property Features for 13403 W 7 Mile Rd
General Information
- Standard status
- Active
- Size
- 4,000 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1950
Listing agent Nick Jaafar License #6501403947 (313) 706-7011
Listing office KW Commercial Dearborn (313) 706-7011
Listing date Apr 24, 2026
Source Elliman
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All listing content including descriptions, pricing, images are the copyrighted material of KW Commercial Dearborn
HighLights
- Anchored by Bank of America with a recently renewed lease and 10+ year occupancy history.
- Strong in‑place income of $96,000 annually from Bank of America and Pharmacy tenants.
- Opportunity for increased income with a vacant, fully built‑out ~4,000 SF clinic space, projecting an additional $72,000 annually.
- Pharmacy tenant with a 12‑year history, secured under a 72‑month lease plus options, generating $60,000 annual rent with 6% escalations.
- On‑site ATM generating approximately $36,000 annually.
- Ideal for owner‑user looking to operate a clinic in the vacant space.
Overview
This commercial property presents an investment or owner-user opportunity with multiple income streams. Anchored by Bank of America, which has occupied the location for over 10 years and recently renewed its lease for another 60 months, with approximately 65 months remaining plus renewal options. The on-site ATM generates approximately $36,000 annually. A pharmacy tenant has been in place for nearly 12 years, 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 approximately 4,000 square foot clinic space that is currently vacant, creating an 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 location has a bike score of 64, indicating it is bikeable, a walk score of 53, indicating it is somewhat walkable, and a transit score of 42, indicating some transit options are available.
Location Intelligence
Current Use by Public Records
Banks
Location Insight
- Map
- Local Demand
- City
- Detroit
- County
- Wayne
- State
- Michigan
- Longitude
- -83.1948
- Latitude
- 42.4267
Nearby Similar for Sale
FAQs
What type of property is this?
Bank - Multi-tenant property with Bank of America and pharmacy tenants.
Where is this bank located?
The property is located at 13403 W 7 Mile Rd Detroit, MI.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Anchored by Bank of America with a recently renewed lease and 10+ year occupancy history.; Strong in‑place income of $96,000 annually from Bank of America and Pharmacy tenants.; Opportunity for increased income with a vacant, fully built‑out ~4,000 SF clinic space, projecting an additional $72,000 annually.
