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    21630 Seven Mile Rd Detroit, MI 48219

    For Sale
    $2,299,000

    37,670 SF Warehouse, 100% Leased

    Property size:
    37,670 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    362
    This single-story, 37,670-square-foot industrial distribution building in Detroit, MI, presents a compelling investment opportunity. Built in 1990 and renovated in 2021, the Class B property boasts a 2.05-acre lot with 60 parking spaces and a fully fenced and gated yard. The building features a 35,000+ square foot shop area and a 2,770 square foot office space, with 9-20 foot ceiling heights, three truckwells, a clear-span bay, LED lighting, and 220 Volt/600 Amp power. The property is 100% occupied by a single tenant under a five-year lease commencing November 2, 2022, and expiring October 31, 2027, offering a remaining lease term of approximately 2.9 years. The building has 100% fire suppression. The property's location on West Seven Mile Road, near Lahser Road, provides convenient access to major transportation routes and logistical infrastructure, including the Detroit Metropolitan Wayne County Airport and the Port of Detroit. The asking price is $2,299,000, representing a price per square foot of $79.51 and a cap rate of 9.83%. The Net Operating Income (NOI) is $226,020. The property is zoned B-4 Warehouse Use and has the APN 22-016834. This is an owner-user investment opportunity with significant potential for long-term growth and return.

    Property Features for 21630 Seven Mile Rd

    General Information

    Property type
    Distribution properties
    Square Feet
    37,670 SF
    Class
    B
    Lot Size
    89,298 SF

    Building Details

    Year Built/Renovated
    1990/2021
    Buildings
    1
    Stories
    1
    Units
    1

    HighLights

    • 37,670 SF distribution building with 2,670 SF of office space.
    • Five‑year lease expiring October 31, 2027.
    • Three truck wells.
    • Fully fenced yard.
    • Excellent Detroit‑area location.
    • Ample warehouse and distribution space.
    Property Profile Location Intelligence

    Current Use by Public Records

    Distribution centers

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Detroit
    County
    Wayne
    State
    Michigan
    Longitude
    -83.2567896
    Latitude
    42.4295378

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    FAQs

    What type of property is this?
    Distribution property - 37,670 SF Warehouse, 100% Leased
    Where is this distribution property located?
    The property is located at 21630 Seven Mile Rd Detroit, MI.
    What is the asking price?
    The asking price for this property is $2,299,000.
    What are key features of this property?
    This property features: 37,670 SF distribution building with 2,670 SF of office space.; Five-year lease expiring October 31, 2027.; Three truck wells.
    Request Owner's contact information
    21630 Seven Mile Rd Detroit, MI 48219
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    21630 Seven Mile Rd Detroit, MI 48219
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