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    20534 Seven Mile Rd Detroit, MI 48219

    For Sale
    $65,000

    Detroit Retail/Office Rehab - $65,000

    Property size:
    3,166 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This vacant, 3,166 square foot commercial property located at 20534 W 7 Mile Rd, Detroit, MI 48219 presents a unique investment opportunity. Situated on a 4,269 square foot lot, this Class C building, constructed in 1948, is zoned B4 and offers significant potential for redevelopment. Currently vacant, the property is ideal for a complete rehabilitation project. The building's versatile nature allows for various uses, including creative office space, medical office space, or storefront retail. Its prime location near the Evergreen shopping center in a busy area of Detroit offers high visibility and accessibility. The asking price is $65,000. The property requires a full rehabilitation, and a city application is required. This is a chance to acquire a well-located building with substantial upside potential in a high-traffic area. The property consists of one building and is currently fully vacant. Detailed plans and specifications are available upon request. This is a rare opportunity to acquire a city-owned property in a desirable location. Serious inquiries only.

    Property Features for 20534 Seven Mile Rd

    General Information

    Property type
    Individual retail properties
    Square Feet
    3,166 SF
    Class
    C

    Building Details

    Year Built
    1948
    Buildings
    1

    HighLights

    • Vacant 3,166 SF commercial building on a 4,269 SF lot in Detroit, MI.
    • Class C building, built in 1948, zoned B4.
    • $65,000 asking price; requires full rehabilitation and city application.
    • High‑visibility location near Evergreen shopping center, ideal for redevelopment into creative office, medical office, or retail space.
    Property Profile Location Intelligence

    Current Use by Public Records

    Medical offices

    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
    -83.245119477344
    Latitude
    42.429466903306

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    FAQs

    What type of property is this?
    Individual retail property - Detroit Retail/Office Rehab - $65,000
    Where is this individual retail property located?
    The property is located at 20534 Seven Mile Rd Detroit, MI.
    What is the asking price?
    The asking price for this property is $65,000.
    What are key features of this property?
    This property features: Vacant 3,166 SF commercial building on a 4,269 SF lot in Detroit, MI.; Class C building, built in 1948, zoned B4.; $65,000 asking price; requires full rehabilitation and city application.
    Request Owner's contact information
    20534 Seven Mile Rd Detroit, MI 48219
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    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
    20534 Seven Mile Rd Detroit, MI 48219
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