Four-Unit Shopping
New
For Sale
$750,000
19700 W 7 Mile Rd, Detroit, MI 48219
Fully leased commercial property with four units and one tenant occupying three spaces.
Property Size4,000 SF
Days on Market2
Property Features for 19700 W 7 Mile Rd
General Information
Standard status
Active
Size
4,000 SF
Property subtype
Commercial
Occupancy
100%
Additional Details
Gross Income
$57,600
Taxes and HOA fees
Annual Taxes
$11,177
Building Details
Building Size
4,000 SF
Year Built
1956
Tenancy
Multi
Listed By:
Zachary Brown
(248) 622-3133
Source:
Elliman
Added: Sep 19
Last Checked: Sep 19 at 2:41PM
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 Zachary Brown
Investment Insights
Based on property information with market context.
This 1956 commercial property contains four units, all currently leased under one-year agreements. One established tenant occupies three of the four spaces, while each tenant is responsible for maintaining its respective premises. The existing lease structure provides an operating base for an owner seeking an occupied retail asset.
Located at 19700 W 7 Mile Rd in Detroit, the property has a Walk Score of 56, a Transit Score of 47, and a Bike Score of 44. Tenants have indicated interest in remaining at the property and pursuing longer lease terms, subject to future lease negotiations.
Located at 19700 W 7 Mile Rd in Detroit, the property has a Walk Score of 56, a Transit Score of 47, and a Bike Score of 44. Tenants have indicated interest in remaining at the property and pursuing longer lease terms, subject to future lease negotiations.
Key Highlights
- Four commercial units, all currently leased
- One tenant occupies three of the four spaces
- Current leases are structured as one‑year agreements
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$49,268
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.57%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$985,360
$985.4K
Cap Rate 7%
$703,829
$703.8K
Cap Rate 9%
$547,422
$547.4K
Market Conditions
NOI Build-Up for 4,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$74.4K $18.60/SF
− Vacancy
−$4.0K −$1.00/SF
EGI
$70.4K $17.60/SF
− OpEx
−$21.1K −$5.28/SF
NOI
$49.3K $12.32/SF
Area
ZIP 48219
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$985,360
Cap Rate 7%
$703,829
Cap Rate 9%
$547,422
Alternative Uses
Best Use
Retail
$703.8K
$615.9K – $821.1K
NOI $49,268 @ 7.0% cap · market cap 6.57%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$821.6K
$718.9K – $958.5K
NOI $57,511 @ 7.0% cap · market cap 7.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
373
Businesses Nearby
14k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Valero Energy
Shops & Services
5,304 visits/mo
0.4 miles
Citgo
Shops & Services
4,495 visits/mo
0.4 miles
Sunoco
Shops & Services
4,332 visits/mo
0.4 miles
Demographics for 48219, MI
46,811
Population
20,815
Households
2.2
Avg Household Size
37
Median Age
13%
College-Educated
87%
High-School Grad
8.4 sq mi
ZIP Area
5,573
Density / Sq Mi
$43,882
Median Household Income
$31,187
Median Earnings
$1,037
Median Rent
$84,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Detroit, MI
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Shopping center - Fully leased commercial property with four units and one tenant occupying three spaces.
Where is this shopping center located?
The property is located at 19700 W 7 Mile Rd Detroit, MI.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Four commercial units, all currently leased; One tenant occupies three of the four spaces; Current leases are structured as one‑year agreements
