Detroit Commercial Building on 7
For Sale
$155,000
17306 7 Mile Rd, Detroit, MI
Versatile commercial building on high-traffic corridor, suitable for various uses.
Property Size1,000 SF
Price / SF$155
Days on Market185
Property Features for 17306 7 Mile Rd
General Information
Standard status
Active
Size
1,000 SF
Taxes and HOA fees
Annual Taxes
$4,073
Listing Agency:
EXP Realty Main
(888) 501-7085
Listed By:
TaShanna Norrell
(313) 694-5834
Source:
Exprealty
Added: Apr 6
Changed: Sep 9
Last Checked: Oct 5 at 8:21PM
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 EXP Realty Main
Investment Insights
Based on property information with market context.
This commercial building is located on the high-traffic W 7 Mile corridor in Northwest Detroit. The property, formerly a dental office and most recently a barber shop, is currently vacant and ready for immediate occupancy. The building offers a functional layout suitable for various uses, including barber/beauty services, medical or professional office, or retail. Positioned along a busy commercial strip, the location provides strong visibility and consistent traffic. It is suitable for an owner-occupant looking to establish or expand a business, or an investor seeking a versatile commercial asset. The property is located just off the Southfield Freeway, providing easy access to surrounding neighborhoods and major thoroughfares. The building has a size of 1000 square feet.
Key Highlights
- High‑traffic location on W 7 Mile corridor.
- Versatile layout suitable for various uses (barber/beauty, medical, office, retail).
- Ready for immediate occupancy.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,368
Cap Rate
6.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$207,360
$207.4K
Cap Rate 7%
$148,114
$148.1K
Cap Rate 9%
$115,200
$115.2K
Market Conditions
NOI Build-Up for 1,000 SF
Gross rent
$19.2K $19.20/SF
− Vacancy
−$1.9K −$1.92/SF
EGI
$17.3K $17.28/SF
− OpEx
−$6.9K −$6.91/SF
NOI
$10.4K $10.37/SF
Area
Detroit, MI
Vacancy
10.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$207,360
Cap Rate 7%
$148,114
Cap Rate 9%
$115,200
Alternative Uses
Best Use
Healthcare Medical
$148.1K
$129.6K – $172.8K
NOI $10,368 @ 7.0% cap · market cap 6.69%
Second Best
Office B
$144.7K
$126.6K – $168.9K
NOI $10,131 @ 7.0% cap · market cap 6.54%
Theoretical Best
Office A
$220.6K
$193.0K – $257.4K
NOI $15,442 @ 7.0% cap · market cap 9.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
4,556
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Detroit, MI
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Versatile commercial building on high-traffic corridor, suitable for various uses.
Where is this medical office space located?
The property is located at 17306 7 Mile Rd Detroit, MI.
What is the asking price?
The asking price for this property is $155,000.
What are key features of this property?
This property features: High‑traffic location on W 7 Mile corridor.; Versatile layout suitable for various uses (barber/beauty, medical, office, retail).; Ready for immediate occupancy.
