15929 W 7 Mile Rd, Detroit, MI 48235
Turnkey 1,500 SF office in Detroit's College Park area.
- Added:
- Oct 11, 2024
- Days on Market:
- 624
- Last Refresh:
- May 12 at 8:56 pm
Property Features for 15929 W 7 Mile Rd
General Information
- Standard status
- Active
- Size
- 1,500 SF
- Property subtype
- Office
Building Details
- Year Built
- 1955
Listing office P.A. Commercial Corporate & Investment Real Estate (248) 663-0508
Listing date Oct 11, 2024
Source Crexi
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 P.A. Commercial Corporate & Investment Real Estate
HighLights
- Turnkey office space ready for immediate occupancy.
- Zoned B4, suitable for a variety of business uses.
- Includes furniture, fixtures, and equipment.
- Features 4 private offices, reception area, and breakroom.
- Two dedicated parking spaces included.
- Renovated in 2006.
Overview
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $9.0k | $6.00 |
| − Vacancy | −$2.1k | −$1.41 |
| EGI | $6.9k | $4.59 |
| − OpEx | −$1.7k | −$1.15 |
| NOI | $5.2k | $3.44 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Detroit
- County
- Wayne
- State
- Michigan
- Longitude
- -83.1948
- Latitude
- 42.4267
