Four-Unit Shopping
19700 W 7 Mile Rd, Detroit, MI 48219
For Sale
$699,000
Fully leased commercial property with four units and one tenant occupying three spaces.
Property Size4,000 SF
Days on Market52
Property Features for 19700 W 7 Mile Rd
General Information
Standard status
Size
Property subtype
Occupancy
Site & Location
Neighborhood
Additional Details
Gross Income
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Tenancy
Listed By:
Zachary Brown
(248) 622-3133
Source:
Elliman
Added: Sep 19
Changed: Oct 31
Last Checked: Nov 8 at 6:36AM
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 Zachary Brown
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Investment Insights
Based on property information with market context.
This 1956 commercial property contains four units, all currently leased under one-year agreements. One established tenant occupies three of the four spaces, while each tenant is responsible for maintaining its respective premises. The existing lease structure provides an operating base for an owner seeking an occupied retail asset.
Located at 19700 W 7 Mile Rd in Detroit, the property has a Walk Score of 56, a Transit Score of 47, and a Bike Score of 44. Tenants have indicated interest in remaining at the property and pursuing longer lease terms, subject to future lease negotiations.
Located at 19700 W 7 Mile Rd in Detroit, the property has a Walk Score of 56, a Transit Score of 47, and a Bike Score of 44. Tenants have indicated interest in remaining at the property and pursuing longer lease terms, subject to future lease negotiations.
Key Highlights
- Four commercial units, all currently leased
- One tenant occupies three of the four spaces
- Current leases are structured as one‑year agreements
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,268
Cap Rate
7.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$985,360
$985.4K
Cap Rate 7%
$703,829
$703.8K
Cap Rate 9%
$547,422
$547.4K
Market Conditions
NOI Build-Up for 4,000 SF
Gross rent
$74.4K $18.60/SF
− Vacancy
−$4.0K −$1.00/SF
EGI
$70.4K $17.60/SF
− OpEx
−$21.1K −$5.28/SF
NOI
$49.3K $12.32/SF
Area
ZIP 48219
Vacancy
5.40%
Lease Rate
$18.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$985,360
Cap Rate 7%
$703,829
Cap Rate 9%
$547,422
Alternative Uses
Best Use
Retail
$703.8K
$615.9K – $821.1K
NOI $49,268 @ 7.0% cap · market cap 7.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$821.6K
$718.9K – $958.5K
NOI $57,511 @ 7.0% cap · market cap 8.23%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
373
Businesses Nearby
14k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Valero Energy
Shops & Services
5,304 visits/mo
0.4 miles
Citgo
Shops & Services
4,495 visits/mo
0.4 miles
Sunoco
Shops & Services
4,332 visits/mo
0.4 miles
Demographics for 48219, MI
46,811
Population
20,815
Households
2.2
Avg Household Size
37
Median Age
13%
College-Educated
87%
High-School Grad
8.4 sq mi
ZIP Area
5,573
Density / Sq Mi
$43,882
Median Household Income
$31,187
Median Earnings
$1,037
Median Rent
$84,500
Median Home Value
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Market
Average Price Trend$/SF for Shopping centers in Wayne County, MI
Properties on Market for Shopping centers in Wayne County
Vacancy Rate% for Retail in Detroit, MI
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Frequently Asked Questions
What type of property is this?
Shopping center - Fully leased commercial property with four units and one tenant occupying three spaces.
Where is this shopping center located?
The property is located at 19700 W 7 Mile Rd Detroit, MI.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Four commercial units, all currently leased; One tenant occupies three of the four spaces; Current leases are structured as one‑year agreements
