Retail Storefront with Private
16124 W Seven Mile Rd Detroit, MI 48235
16124 W Seven Mile Rd, Detroit, MI, 48235
$80,000
For Sale
$80,000
Ready-to-operate storefront includes equipment and a gated outdoor area, with roof and HVAC renovations completed in 2023.
Property Size800 SF
Price / SF$100
Days on Market17
Property Features for 16124 W Seven Mile Rd
General Information
- Standard status
- Active
- Size
- 800 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1959
Listing agency
Max Broock Realtors - Royal Oak
(313) 544-3199
Listed by
Justin Bercheny · License #6501428155
Source
Cpix.resimplifi
Added: Jul 6 Updated: Jul 22 at 10:40AM Checked: Jul 22 at 10:40AM
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 Max Broock Realtors - Royal Oak
Investment Insights
Based on property information with market context.
This ready-to-go retail storefront is currently set up as a barber shop and is being sold with all equipment. The property includes a gated outdoor area that can support parking and/or serve as an extension of the indoor space. Roof, HVAC, and interior renovations were completed in 2023, and the seller notes that major items have been taken care of.
The space is located on Seven Mile Road, just east of Southfield Freeway, in a high-traffic area. Access is described as private parking through an alley. Ownership is limited to the described space only, not the entire strip of buildings.
The offering is for the specific storefront space at 16124 W Seven Mile Rd, Detroit, and showings are available by appointment only.
The space is located on Seven Mile Road, just east of Southfield Freeway, in a high-traffic area. Access is described as private parking through an alley. Ownership is limited to the described space only, not the entire strip of buildings.
The offering is for the specific storefront space at 16124 W Seven Mile Rd, Detroit, and showings are available by appointment only.
Key Highlights
- Ready‑to‑operate storefront currently set up as a barber shop and includes all equipment
- Gated outdoor area for parking or use as an extension of the indoor space
- Roof and HVAC renovations completed in 2023
Local Financial Insights For Retail
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 | $11.0k | $13.80 |
| − Vacancy | −$938 | −$1.17 |
| EGI | $10.1k | $12.63 |
| − OpEx | −$3.0k | −$3.79 |
| NOI | $7.1k | $8.84 |
800 SF · lease $13.80/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$101.0K
$88.4K – $117.9K
NOI $7,071 @ 7.0% cap · market cap 8.84%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$113.4K
$99.2K – $132.3K
NOI $7,938 @ 7.0% cap · market cap 9.92%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Storefront properties
Similar For Sale Nearby
Similar Off Market Nearby
- Detroit Flower Company — 10629 West Seven Mile Road, Detroit, MI 48221
- Bob Farr's Florist — 14149 W McNichols Rd, Detroit, MI 48235
- Beautiful Blossoms — 15321 W McNichols Rd, Detroit, MI 48235
- Express Floral Deliveries — 15321 w mcnichols rd, detroit, mi 48235
FAQs
What type of property is this?
Storefront property - Ready-to-operate storefront includes equipment and a gated outdoor area, with roof and HVAC renovations completed in 2023.
Where is this storefront property located?
The property is located at 16124 W Seven Mile Rd Detroit, MI.
What is the asking price?
The asking price for this property is $80,000.
What are key features of this property?
This property features: Ready‑to‑operate storefront currently set up as a barber shop and includes all equipment; Gated outdoor area for parking or use as an extension of the indoor space; Roof and HVAC renovations completed in 2023
