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    7514 7 Mile Rd Detroit, MI 48234

    Sponsored
    For Sale
    $199,000

    Prime Detroit location, 4,110 sq ft, high-traffic area.

    Property size:
    4,110 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This freestanding building, located at 7514 Seven Mile E in Detroit, Michigan, presents a unique investment opportunity. The property boasts 4,110 square feet of space on a 0.29-acre lot, encompassing a single-story structure with an open concept design. Currently configured as a bar and restaurant, the building features a fully equipped kitchen and bar area, along with ample seating. The B4 - General Business District zoning allows for a wide range of uses, making it suitable for various businesses beyond its current configuration. The sale includes an adjacent parking lot situated west of the main building, providing convenient parking for patrons and staff. The property's address is 7514 Seven Mile E, Detroit, MI 48234, and its parcel numbers are 15004865 & 15004866. This high-traffic location on Seven Mile Road, just west of Van Dyke, offers excellent visibility and accessibility. The asking price for this exceptional property is $199,000. This is an excellent opportunity for an owner-operator or investor seeking a versatile commercial space in a thriving Detroit neighborhood.

    Property Features for 7514 7 Mile Rd

    General Information

    Property type
    Restaurants
    Square Feet
    4,110 SF
    Lot Size
    12,632 SF

    Building Details

    Buildings
    1
    Stories
    1

    HighLights

    • Freestanding building totaling 4,110 square feet on a 0.29‑acre lot in Detroit, MI.
    • Single‑story structure with open concept design, currently operating as a bar and restaurant with a fully equipped kitchen and bar.
    • B4 General Business zoning allows for diverse commercial uses.
    • Includes adjacent parking lot.
    • Located at 7514 Seven Mile E, Detroit, MI 48234 (Parcel #s 15004865 & 15004866), offering high visibility and accessibility.
    • Asking price: $199,000.
    Property Profile Location Intelligence

    Current Use by Public Records

    Bars

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Detroit
    County
    Wayne
    State
    Michigan
    Longitude
    -83.027029297812
    Latitude
    42.433937210115

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    FAQs

    What type of property is this?
    Restaurant - Prime Detroit location, 4,110 sq ft, high-traffic area.
    Where is this restaurant located?
    The property is located at 7514 7 Mile Rd Detroit, MI.
    What is the asking price?
    The asking price for this property is $199,000.
    What are key features of this property?
    This property features: Freestanding building totaling 4,110 square feet on a 0.29-acre lot in Detroit, MI.; Single-story structure with open concept design, currently operating as a bar and restaurant with a fully equipped kitchen and bar.; B4 General Business zoning allows for diverse commercial uses.
    Request Owner's contact information
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    Detroit, MI 48234
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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
    7514 7 Mile Rd Detroit, MI 48234
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