Storefront Property with Two
For Sale
$375,000
15921 W Seven Mile Road, Detroit, MI 48235
Commercial Sale, Detroit, MI
Property Size3,000 SF
Lot Size0.09 Acres
Price / SF$125
Days on Market94
Property Features for 15921 W Seven Mile Road
General Information
Property type
Commercial Sale
Property subtype
Retail
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Elementary school district
Detroit
Middle school district
Detroit
High school district
Detroit
Standard status
Active
APN
22016212-3
Size
3,000 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
S SEVEN MILE RD W 358&357 COLLEGE DRIVE SUB L48 P34 PLATs;.w C R. 22/431 40 X 100
Tax Annual Amount
6943
Legal Description
S SEVEN MILE RD W 358&357 COLLEGE DRIVE SUB L48 P34 PLATs;.w C R. 22/431 40 X 100
Utilities
Utilities
Phone Available
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1958
Number of units
2
Listing Agency:
Keller Williams Professionals · Keller Williams Realty
(734) 459-4700
Listed By:
Eve Boykins
(248) 252-0670
Added: Jul 18
Changed: Oct 2
Last Checked: Oct 19 at 8:06PM
MLS# 26037039
Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 3,000-square-foot storefront property at 15921 W Seven Mile Road includes two bathrooms and was formerly used as both a restaurant and barber shop. The building dates to 1958 and is equipped with forced-air heating and central air conditioning.
Phone service is available at the property. The address is in Detroit, Michigan 48235, within Wayne County, and the parcel measures 0.09 acres.
Phone service is available at the property. The address is in Detroit, Michigan 48235, within Wayne County, and the parcel measures 0.09 acres.
Key Highlights
- 3,000 square feet of storefront space
- Former restaurant and barber shop uses
- Two bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,566
Cap Rate
7.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$591,320
$591.3K
Cap Rate 7%
$422,371
$422.4K
Cap Rate 9%
$328,511
$328.5K
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$42.5K $14.16/SF
− Vacancy
−$3.1K −$1.02/SF
EGI
$39.4K $13.14/SF
− OpEx
−$9.9K −$3.29/SF
NOI
$29.6K $9.86/SF
Area
ZIP 48235
Vacancy
7.20%
Lease Rate
$14.16 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$591,320
Cap Rate 7%
$422,371
Cap Rate 9%
$328,511
Alternative Uses
Best Use
Specialty Retail
$422.4K
$369.6K – $492.8K
NOI $29,566 @ 7.0% cap · market cap 7.88%
Second Best
Retail
$378.8K
$331.5K – $442.0K
NOI $26,517 @ 7.0% cap · market cap 7.07%
Theoretical Best
Multifamily LT 5
$425.2K
$372.1K – $496.1K
NOI $29,767 @ 7.0% cap · market cap 7.94%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
471
Businesses Nearby
15k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 96%
Electronics 4%
BP
Shops & Services
11,900 visits/mo
0.4 miles
Citgo
Shops & Services
2,353 visits/mo
0.1 miles
Metro by T-Mobile
Electronics
628 visits/mo
0.5 miles
Demographics for 48235, MI
45,188
Population
20,946
Households
2.2
Avg Household Size
39
Median Age
15%
College-Educated
91%
High-School Grad
6.2 sq mi
ZIP Area
7,288
Density / Sq Mi
$41,011
Median Household Income
$31,545
Median Earnings
$1,151
Median Rent
$79,400
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
Frequently Asked Questions
What type of property is this?
Storefront property - Former restaurant and barber shop with central air conditioning and forced-air heating.
Where is this storefront property located?
The property is located at 15921 W Seven Mile Road Detroit, MI.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 3,000 square feet of storefront space; Former restaurant and barber shop uses; Two bathrooms
