Building Details

Building Size 700 SF

Buildings 1

Listing Agency: Altitude Commercial Real Estate

Listed By: George Abro · License #6502432561 Show Phone

Source: Altitudecre

Added: Jun 25 Changed: Oct 2 Last Checked: Oct 5 at 5:34PM

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Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Altitude Commercial Real Estate

Investment Insights

Based on property information with market context.

This 700-square-foot storefront property is positioned for retail or street-retail use. The building’s compact footprint provides a straightforward commercial configuration for an operator or investor seeking a small-format retail asset.

The property is located at 7606 Seven Mile E in Detroit, Michigan 48234. B4 zoning is identified for the site, and the address places the building within Detroit’s Seven Mile area.

Key Highlights

• 700 SF storefront building
• B4 zoning
• Located at 7606 Seven Mile E, Detroit, MI 48234

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$8,622

Cap Rate

6.90%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$172,440 $172.4K

Cap Rate 7%

$123,171 $123.2K

Cap Rate 9%

$95,800 $95.8K

Market Conditions

NOI Build-Up for 700 SF

Gross rent

$13.0K $18.60/SF

− Vacancy

−$703 −$1.00/SF

EGI

$12.3K $17.60/SF

− OpEx

−$3.7K −$5.28/SF

NOI

$8.6K $12.32/SF

Area

Detroit, MI

Vacancy

5.40%

Lease Rate

$18.60 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$172,440

Cap Rate 7%

$123,171

Cap Rate 9%

$95,800

Alternative Uses

Best Use

Retail

$123.2K

$107.8K – $143.7K (±1% cap)

NOI $8,622 @ 7.0% cap · market cap 6.90%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$154.4K

$135.1K – $180.2K (±1% cap)

NOI $10,810 @ 7.0% cap · market cap 8.65%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Darou's Hair Braiding Hair Salon Metro by T-Mobile Mobile Phone Store Spacetime Hookah (Bike/Boat/Book/etc) Store

Suggested Use

Top Pick Real Estate Agency Law Firm Dental Office Kitchen & Bath Showroom Skin Care Clinic HVAC Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

582

Businesses Nearby

38k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 90% Dining 8% Electronics 3%

BP Shops & Services

12,452 visits/mo 0.4 miles

Pet Supplies Plus Shops & Services

6,947 visits/mo 0.4 miles

Dollar General Shops & Services

6,620 visits/mo 0.3 miles

U-Haul Moving & Storage AT 7 Mile & Livernois Shops & Services

3,913 visits/mo 0.4 miles

Comerica Bank Shops & Services

2,946 visits/mo 0.4 miles

Demographics for 48234, MI

31,442

Population

15,688

Households

2

Avg Household Size

36

Median Age

11%

College-Educated

84%

High-School Grad

7.8 sq mi

ZIP Area

4,031

Density / Sq Mi

$36,473

Median Household Income

$31,587

Median Earnings

$965

Median Rent

$57,100

Median Home Value

Market

Vacancy Rate% for Retail in Detroit, MI

7.5% 2019

9.2% 2020

8.5% 2021

7.3% 2022

7.9% 2023

7% 2024

7% 2025

Questions? Ask Rey

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What type of property is this? Where is this storefront properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Storefront property - Compact retail-oriented space with B4 zoning in Detroit’s Seven Mile corridor.

Where is this storefront property located?

The property is located at 7606 Seven Mile E Detroit, MI.

What is the asking price?

The asking price for this property is $125,000.

What are key features of this property?

This property features: 700 SF storefront building; B4 zoning; Located at 7606 Seven Mile E, Detroit, MI 48234