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    18915 7 Mile Rd Detroit, MI 48219
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    18915 7 Mile Rd Detroit, MI 48219

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    • Retail properties & Spaces
    • 7,134 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 18915 7 Mile Rd

    Property size
    7,134 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Restaurants

    Description

    This exceptional retail opportunity, known as Sunderland Shops on Seven, is located at 18915 W Seven Mile Rd in Detroit, Michigan, within the Detroit W of Woodward submarket of Wayne County (APN 22016414-21). The property consists of a 7,134 square foot building offering multiple tenancies, ideal for a variety of retail or restaurant uses. Currently, there are three available spaces ranging from approximately 1,182 to 1,192 square feet each, totaling 5,940 square feet of vacant space. This prime location on Seven Mile Road offers excellent visibility and accessibility for businesses seeking high foot traffic. The property's street retail configuration ensures maximum exposure to potential customers. The building's total square footage provides ample space for expansion or multiple tenants. This is a unique chance to establish or expand a business in a thriving Detroit neighborhood. Further details regarding lease terms and conditions are available upon request. Interested parties should inquire promptly as this opportunity is expected to generate significant interest.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Detroit
    County
    Wayne
    State
    Michigan
    Longitude
    -83.228
    Latitude
    42.4296

    Comparable in this City

    • Value Estimation by Request
      2,404 SF

      19033 7th Mile Rd

      BAR, TAVERN • 2,404 SF
      19033 7th Mile Rd, Detroit, MI 48219-2705
      View Details
    • Value Estimation by Request
      2,640 SF

      18940 7th Mile Rd

      RETAIL STORES (PERSONAL SERVICES) • 2,640 SF
      18940 7th Mile Rd, Detroit, MI 48219-2759
      View Details
    • Value Estimation by Request
      2,020 SF

      17263 Redford St

      RETAIL STORES (PERSONAL SERVICES) • 2,020 SF
      17263 Redford St, Detroit, MI 48219-3257
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    • Value Estimation by Request
      1,000 SF

      19618 Mcnichols Rd

      RETAIL STORES (PERSONAL SERVICES) • 1,000 SF
      19618 Mcnichols Rd, Detroit, MI 48219-4055
      View Details
    • Value Estimation by Request
      3,213 SF

      19620 7th Mile Rd

      RETAIL STORES (PERSONAL SERVICES) • 3,213 SF
      19620 7th Mile Rd, Detroit, MI 48219-2753
      View Details
    • Value Estimation by Request
      1,598 SF

      19104 Mcnichols Rd

      RETAIL STORES (PERSONAL SERVICES) • 1,598 SF
      19104 Mcnichols Rd, Detroit, MI 48219-4033
      View Details

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    Similar Nearby for Lease

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      Prime Retail/Office Space Available

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      Detroit Retail Space For Rent

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      Freestanding building on 8 Mile available for lease or sale.
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    Detroit, MI 48219
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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