21630 Seven Mile Rd Detroit, MI 48219

Property Details for 21630 Seven Mile Rd

Lot size

2.02 lot acres

Property type

Commercial real estate

APN

22016833-4

APU

220168334

Description

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.