B4-Zoned Storefront
For Sale
$125,000
7606 Seven Mile E, Detroit, MI 48234
Compact retail-oriented space with B4 zoning in Detroit’s Seven Mile corridor.
Property Size700 SF
Price / SF$178.57
Days on Market67
Property Features for 7606 Seven Mile E
General Information
Standard status
Active
Size
700 SF
Property subtype
Retail
Zoning
B4
Building Details
Building Size
700 SF
Buildings
1
Listing Agency:
Altitude Commercial Real Estate
(248) 781-8076
Listed By:
George Abro · License #6502432561
Source:
Altitudecre
Added: Jun 25
Changed: Aug 30
Last Checked: Aug 30 at 2:37AM
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 Altitude Commercial Real Estate
Investment Insights
Based on property information with market context.
This 700-square-foot storefront property is positioned for retail or street-retail use. The building’s compact footprint provides a straightforward commercial configuration for an operator or investor seeking a small-format retail asset.
The property is located at 7606 Seven Mile E in Detroit, Michigan 48234. B4 zoning is identified for the site, and the address places the building within Detroit’s Seven Mile area.
The property is located at 7606 Seven Mile E in Detroit, Michigan 48234. B4 zoning is identified for the site, and the address places the building within Detroit’s Seven Mile area.
Key Highlights
- 700 SF storefront building
- B4 zoning
- Located at 7606 Seven Mile E, Detroit, MI 48234
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
$8,622
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
6.90%
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%
$172,440
$172.4K
Cap Rate 7%
$123,171
$123.2K
Cap Rate 9%
$95,800
$95.8K
Market Conditions
NOI Build-Up for 700 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
$13.0K $18.60/SF
− Vacancy
−$703 −$1.00/SF
EGI
$12.3K $17.60/SF
− OpEx
−$3.7K −$5.28/SF
NOI
$8.6K $12.32/SF
Area
Detroit, MI
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 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%
$172,440
Cap Rate 7%
$123,171
Cap Rate 9%
$95,800
Alternative Uses
Best Use
Retail
$123.2K
$107.8K – $143.7K
NOI $8,622 @ 7.0% cap · market cap 6.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$154.4K
$135.1K – $180.2K
NOI $10,810 @ 7.0% cap · market cap 8.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
582
Businesses Nearby
38k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 90%
Dining 8%
Electronics 3%
BP
Shops & Services
12,452 visits/mo
0.4 miles
Pet Supplies Plus
Shops & Services
6,947 visits/mo
0.4 miles
Dollar General
Shops & Services
6,620 visits/mo
0.3 miles
U-Haul Moving & Storage AT 7 Mile & Livernois
Shops & Services
3,913 visits/mo
0.4 miles
Comerica Bank
Shops & Services
2,946 visits/mo
0.4 miles
Demographics for 48234, MI
31,442
Population
15,688
Households
2
Avg Household Size
36
Median Age
11%
College-Educated
84%
High-School Grad
7.8 sq mi
ZIP Area
4,031
Density / Sq Mi
$36,473
Median Household Income
$31,587
Median Earnings
$965
Median Rent
$57,100
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.
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Frequently Asked Questions
What type of property is this?
Storefront property - Compact retail-oriented space with B4 zoning in Detroit’s Seven Mile corridor.
Where is this storefront property located?
The property is located at 7606 Seven Mile E Detroit, MI.
What is the asking price?
The asking price for this property is $125,000.
What are key features of this property?
This property features: 700 SF storefront building; B4 zoning; Located at 7606 Seven Mile E, Detroit, MI 48234
