Three-Building Storefront
For Sale
$250,000
17500 W 7 Mile Road, Detroit, MI 48235
Three buildings with individual addresses are offered together and require some TLC.
Property Size2,549 SF
Price / SF$98.08
Days on Market8
Property Features for 17500 W 7 Mile Road
General Information
Standard status
Active
Size
2,549 SF
Property subtype
Industrial
Property Condition
Severity
Repairs Needed
Evidence
need some TLC
Amenities
3
6386.17
Building Details
Year Built
19
Buildings
3
Listing Agency:
Community Choice Realty Inc
(586) 480-5555
Listed By:
Daniel Salmo · License #394350
(586) 480-5555
Source:
Xome
Added: Aug 23
Changed: Aug 29
Last Checked: Aug 28 at 6:43AM
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 storefront offering includes three buildings conveyed together, with each building carrying a separate address. The combined property size is 6,500 FT, and the improvements date to 1949. The buildings require some TLC.
The property is located at 17500 W 7 Mile Rd in Detroit, near major freeways. WalkScore is 65, BikeScore is 44, and TransitScore is 47, reflecting somewhat walkable, somewhat bikeable conditions with some transit access.
The property is located at 17500 W 7 Mile Rd in Detroit, near major freeways. WalkScore is 65, BikeScore is 44, and TransitScore is 47, reflecting somewhat walkable, somewhat bikeable conditions with some transit access.
Key Highlights
- Three buildings sold together as one offering
- Combined size of 6,500 FT
- Three separate addresses included
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
$22,530
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
9.01%
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%
$450,600
$450.6K
Cap Rate 7%
$321,857
$321.9K
Cap Rate 9%
$250,333
$250.3K
Market Conditions
NOI Build-Up for 2,549 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
$35.2K $13.80/SF
− Vacancy
−$3.0K −$1.17/SF
EGI
$32.2K $12.63/SF
− OpEx
−$9.7K −$3.79/SF
NOI
$22.5K $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%
$450,600
Cap Rate 7%
$321,857
Cap Rate 9%
$250,333
Alternative Uses
Best Use
Retail
$321.9K
$281.6K – $375.5K
NOI $22,530 @ 7.0% cap · market cap 9.01%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$361.3K
$316.2K – $421.5K
NOI $25,292 @ 7.0% cap · market cap 10.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Detroit Flower Company — 10629 West Seven Mile Road, Detroit, MI 48221
- Beautiful Blossoms — 15321 W McNichols Rd, Detroit, MI 48235
- Express Floral Deliveries — 15321 w mcnichols rd, detroit, mi 48235
- Bob Farr's Florist — 14149 W McNichols Rd, Detroit, MI 48235
Frequently Asked Questions
What type of property is this?
Storefront property - Three buildings with individual addresses are offered together and require some TLC.
Where is this storefront property located?
The property is located at 17500 W 7 Mile Road Detroit, MI.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Three buildings sold together as one offering; Combined size of 6,500 FT; Three separate addresses included
