Two-Unit Duplex
For Sale
Contact for pricing
7360 Georgia St, Detroit, MI 48213
Two separate units each provide three bedrooms and one bathroom in an as-is, DLBA-owned duplex.
Property Size1,920 SF
Price / SF$7.81
Days on Market101
Property Features for 7360 Georgia St
General Information
Standard status
Active
Size
1,920 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Airport Sub
Highway Access
Yes
Additional Details
Multifamily Units
2
Building Details
Year Built
1920
Listing Agency:
Atlas Properties Inc
Listed By:
Adam Hage · License #6506046052
(313) 598-2566
Source:
Premiermichiganhomesearch
Added: Jul 21
Changed: Oct 25
Last Checked: Oct 7 at 3:53PM
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 Atlas Properties Inc
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Investment Insights
Based on property information with market context.
DLBA-owned two-family duplex with two separate units, including a three-bedroom, one-bath upper unit and a three-bedroom, one-bath lower unit. The property is sold as-is and is positioned for an owner-occupant or rental-focused use, with renovation required per the buyer’s plans.
The property is located near major freeways and local amenities, with easy access to Downtown Detroit, the I-94 corridor, and Detroit Metropolitan Wayne County Airport.
Sale is subject to approval by the Detroit Land Bank Authority (DLBA) and execution of a DLBA Renovation/Development Agreement. Prospective purchasers must submit a complete proposal package, including intended use, renovation timeline, proof of funds, and a detailed scope of work with cost breakdown and documentation of prior renovation projects. The DLBA retains the right to tax recapture for five years following transfer of ownership, and certain tax abatements or lot combinations may require DLBA review and approval. Buyers should verify all information.
The property is located near major freeways and local amenities, with easy access to Downtown Detroit, the I-94 corridor, and Detroit Metropolitan Wayne County Airport.
Sale is subject to approval by the Detroit Land Bank Authority (DLBA) and execution of a DLBA Renovation/Development Agreement. Prospective purchasers must submit a complete proposal package, including intended use, renovation timeline, proof of funds, and a detailed scope of work with cost breakdown and documentation of prior renovation projects. The DLBA retains the right to tax recapture for five years following transfer of ownership, and certain tax abatements or lot combinations may require DLBA review and approval. Buyers should verify all information.
Key Highlights
- DLBA‑owned two‑family duplex at 7360 Georgia St in Detroit’s Airport Sub community
- Two separate units, each with 3 bedrooms and 1 bathroom (upper 3BR/1BA; lower 3BR/1BA)
- As‑is sale; subject to approval by the Detroit Land Bank Authority (DLBA)
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,142
Suggested Prices Based on Cap Rates
Cap Rate 5%
$402,840
$402.8K
Cap Rate 7%
$287,743
$287.7K
Cap Rate 9%
$223,800
$223.8K
Market Conditions
NOI Build-Up for 1,920 SF
Gross rent
$39.2K $20.40/SF
− Vacancy
−$2.5K −$1.33/SF
EGI
$36.6K $19.07/SF
− OpEx
−$16.5K −$8.58/SF
NOI
$20.1K $10.49/SF
Area
Detroit, MI
Vacancy
6.50%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$402,840
Cap Rate 7%
$287,743
Cap Rate 9%
$223,800
Alternative Uses
Best Use
Multifamily LT 5
$313.5K
$274.3K – $365.7K
NOI $21,943 @ 7.0% cap · market cap 146.29%
Second Best
Apartment 5plus
$287.7K
$251.8K – $335.7K
NOI $20,142 @ 7.0% cap · market cap 134.28%
Theoretical Best
Office A
$423.6K
$370.6K – $494.2K
NOI $29,649 @ 7.0% cap · market cap 197.66%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
172
Businesses Nearby
Explore this area
Business Placement
Demographics for 48213, MI
19,088
Population
11,365
Households
1.7
Avg Household Size
39
Median Age
7%
College-Educated
82%
High-School Grad
6.5 sq mi
ZIP Area
2,937
Density / Sq Mi
$33,755
Median Household Income
$24,765
Median Earnings
$837
Median Rent
$52,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two separate units each provide three bedrooms and one bathroom in an as-is, DLBA-owned duplex.
Where is this duplex located?
The property is located at 7360 Georgia St Detroit, MI.
What are key features of this property?
This property features: DLBA‑owned two‑family duplex at 7360 Georgia St in Detroit’s Airport Sub community; Two separate units, each with 3 bedrooms and 1 bathroom (upper 3BR/1BA; lower 3BR/1BA); As‑is sale; subject to approval by the Detroit Land Bank Authority (DLBA)
