Four-Store Shopping
For Sale
Contact for pricing
16331 West Seven Mile Road, Detroit, MI 48235
Multi-store retail property positioned along W. 7 Mile Road in Detroit.
Property Size3,842 SF
Price / SF$129.88
Days on Market152
Property Features for 16331 West Seven Mile Road
General Information
Standard status
Active
Size
3,842 SF
Total Parking Spaces
20
Property subtype
Retail
Zoning
Commercial-201
Occupancy
75%
Lease Type
Gross
Investment Type
Value Add
Building Details
Year Built
1954
Year Renovated
2012
Units
4
Tenancy
Multi
Listing Agency:
Community Choice Realty Inc
Listed By:
Daniel Salmo · License #MI 394350
Source:
Crexi
Added: Apr 11
Changed: Sep 8
Last Checked: Sep 9 at 7:39AM
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 Community Choice Realty Inc
Investment Insights
Based on property information with market context.
This shopping center contains four individual stores within a single commercial property. The configuration provides multiple retail spaces in one building and is classified as a shopping center.
The property is located at 16331 W. 7 Mile Road in Detroit, Michigan, on a street described as carrying high traffic. Its established road frontage supports a straightforward retail setting for the existing store layout.
The property is located at 16331 W. 7 Mile Road in Detroit, Michigan, on a street described as carrying high traffic. Its established road frontage supports a straightforward retail setting for the existing store layout.
Key Highlights
- Four stores within one shopping center
- Located at 16331 W. 7 Mile Road in Detroit, MI
- Positioned on a high‑traffic street
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
$33,959
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
6.81%
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%
$679,180
$679.2K
Cap Rate 7%
$485,129
$485.1K
Cap Rate 9%
$377,322
$377.3K
Market Conditions
NOI Build-Up for 3,842 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
$53.0K $13.80/SF
− Vacancy
−$4.5K −$1.17/SF
EGI
$48.5K $12.63/SF
− OpEx
−$14.6K −$3.79/SF
NOI
$34.0K $8.84/SF
Area
ZIP 48235
Vacancy
8.50%
Lease Rate
$13.80 /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%
$679,180
Cap Rate 7%
$485,129
Cap Rate 9%
$377,322
Alternative Uses
Best Use
Retail
$485.1K
$424.5K – $566.0K
NOI $33,959 @ 7.0% cap · market cap 6.81%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$544.6K
$476.5K – $635.4K
NOI $38,122 @ 7.0% cap · market cap 7.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
713
Businesses Nearby
37k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 50%
Shops & Services 47%
Electronics 4%
Wendy's
Dining
18,328 visits/mo
0.5 miles
BP
Shops & Services
11,900 visits/mo
0.4 miles
AutoZone
Shops & Services
5,282 visits/mo
0.4 miles
Metro by T-Mobile
Electronics
669 visits/mo
0.4 miles
Metro by T-Mobile
Electronics
628 visits/mo
0.4 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
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 - Multi-store retail property positioned along W. 7 Mile Road in Detroit.
Where is this shopping center located?
The property is located at 16331 West Seven Mile Road Detroit, MI.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Four stores within one shopping center; Located at 16331 W. 7 Mile Road in Detroit, MI; Positioned on a high‑traffic street
