Industrial Property with Ample
For Sale
$275,000
521 E 7 MILE Rd, Detroit, MI 48203
3100 Sq. Ft. industrial property suitable for various uses.
Property Size3,160 SF
Lot Size0.09 Acres
Price / SF$88.71
Days on Market210
Property Features for 521 E 7 MILE Rd
General Information
Standard status
Active
Size
3,160 SF
Lot size
0.09 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$822
Building Details
Building Size
3,160 SF
Year Built
1954
Listing Agency:
Herbert J Hill Realty Real Estate Master
Listed By:
Herbert J Hill Jr · License #6504381646
(313) 341-2656
Source:
Elliman
Added: Mar 11
Changed: Aug 8
Last Checked: Aug 8 at 12:16PM
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 Herbert J Hill Realty Real Estate Master
Investment Insights
Based on property information with market context.
This 3100 sq. ft. property offers endless possibilities and is equipped with ample power suitable for light industrial work. The property is secure and all mechanical systems are operational.
Key Highlights
- Large 3100 Sq. Ft. property offers ample space.
- Suitable for light industrial work due to ample power.
- Secure property provides peace of mind.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,077
Cap Rate
5.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$301,540
$301.5K
Cap Rate 7%
$215,386
$215.4K
Cap Rate 9%
$167,522
$167.5K
Market Conditions
NOI Build-Up for 3,100 SF
Gross rent
$22.7K $7.32/SF
− Vacancy
−$1.2K −$0.37/SF
EGI
$21.5K $6.95/SF
− OpEx
−$6.5K −$2.08/SF
NOI
$15.1K $4.86/SF
Area
Detroit, MI
Vacancy
5.08%
Lease Rate
$7.32 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$301,540
Cap Rate 7%
$215,386
Cap Rate 9%
$167,522
Alternative Uses
Best Use
Industrial
$215.4K
$188.5K – $251.3K
NOI $15,077 @ 7.0% cap · market cap 5.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$683.9K
$598.4K – $797.9K
NOI $47,871 @ 7.0% cap · market cap 17.41%
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
376
Businesses Nearby
Explore this area
Business Placement
Demographics for 48203, MI
22,168
Population
13,591
Households
1.6
Avg Household Size
39
Median Age
19%
College-Educated
85%
High-School Grad
8.2 sq mi
ZIP Area
2,703
Density / Sq Mi
$35,108
Median Household Income
$28,364
Median Earnings
$799
Median Rent
$76,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Detroit, MI
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Industrial property - 3100 Sq. Ft. industrial property suitable for various uses.
Where is this industrial property located?
The property is located at 521 E 7 MILE Rd Detroit, MI.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Large 3100 Sq. Ft. property offers ample space.; Suitable for light industrial work due to ample power.; Secure property provides peace of mind.
