13403 W 7 Mile Road Detroit, MI 48235

Building Details

Year Built

1950

Listing office n***@kw.com Show Phone

Listing date Sep 2, 2025

Source Xome

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Investment Insights

Based on property information with market context.

This shopping center offers multiple income streams with in-place tenants and an additional built-out opportunity. The property is anchored by Bank of America, which recently renewed its lease for another 60 months, leaving approximately 65 months remaining plus renewal options. An on-site ATM generates approximately $36,000 annually.

A pharmacy tenant is in place for nearly 12 years under a 72-month lease with options, producing approximately $60,000 in annual rent and 6% escalations after the current term. The property also includes a fully built-out clinic space of approximately 4,000 square feet that is currently vacant, providing flexibility for an owner-user or a new medical tenant.

Current in-place income totals approximately $96,000 annually, with total projected income of approximately $168,000 annually if the clinic suite is leased.

Key Highlights

• Shopping center anchored by Bank of America with a recently renewed 60‑month lease; ~65 months remaining plus renewal options
• On‑site ATM generates approximately $36,000 annually
• Leased pharmacy tenant nearly 12 years with a 72‑month lease plus options; approximately $60,000 annual rent with 6% escalations after the current term

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FAQs

What type of property is this?

Shopping center - Shopping center anchored by Bank of America and a leased pharmacy, plus a vacant built-out clinic suite.

Where is this shopping center located?

The property is located at 13403 W 7 Mile Road 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: Shopping center anchored by Bank of America with a recently renewed 60‑month lease; ~65 months remaining plus renewal options; On‑site ATM generates approximately $36,000 annually; Leased pharmacy tenant nearly 12 years with a 72‑month lease plus options; approximately $60,000 annual rent with 6% escalations after the current term