Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    15400 7th Mile Rd Detroit, MI 48205-2544

    • Theaters & concert halls
    • 15,953 SF
    • 0.51 lot acres
    OFF-MARKET
    Last Sale
    Nov 01, 2022
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-1784905
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Theaters & concert halls

    Property Details for 15400 7th Mile Rd

    Year built
    1900
    Lot size
    0.51 lot acres
    Property size
    15,953 SF
    Zone code
    R2
    Property type
    Theaters & concert halls
    APN
    21020642-52
    APU
    2102064252

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Detroit
    County
    Wayne
    State
    Michigan
    Longitude
    -82.9625
    Latitude
    42.4352
    CBSA code
    19820
    CBSA name
    DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2020
    $100
    $0.00
    $0.00
    $0.00
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      7,668 SF

      20210 Schoenherr St

      AUDITORIUM • 7,668 SF
      20210 Schoenherr St, Detroit, MI 48205-1108
      View Details
    • Value Estimation by Request
      10,881 SF

      12225 Findlay St

      AUDITORIUM • 10,881 SF
      12225 Findlay St, Detroit, MI 48205-3823
      View Details
    • Value Estimation
      $905,000
      33,387 SF

      14421 Seymour St

      AUDITORIUM • 33,387 SF
      14421 Seymour St, Detroit, MI 48205-3506
      View Details
    • Value Estimation by Request
      16,404 SF

      12057 Gratiot Ave

      AUDITORIUM • 16,404 SF
      12057 Gratiot Ave, Detroit, MI 48205-3954
      View Details
    • Value Estimation by Request
      2,212 SF

      14110 Fordham St

      AUDITORIUM • 2,212 SF
      14110 Fordham St, Detroit, MI 48205-2458
      View Details
    • Value Estimation by Request
      2,672 SF

      12719 Gratiot Ave

      THEATER (MOVIE) • 2,672 SF
      12719 Gratiot Ave, Detroit, MI 48205-3943
      View Details

    Similar Nearby for Sale

    • $355,000

      Entertainment Hall or Redevelopment Opportunity

      Two buildings suitable for entertainment, worship, daycare, or studio.
      12121 Gratiot Ave, Detroit, MI 48205
      View Details
    • $40,000
      49,823 SF

      Historic Detroit Theater For Sale

      Historic Detroit theater building for sale, renovation opportunity.
      12719 Gratiot Ave, Detroit, MI 48205
      View Details
    • Contact for pricing
      1.03 Acres

      Prime Detroit Commercial Land

      1.03-Acre Vacant Lot, Build-to-Suit
      13715 Gratiot Ave, Detroit, MI 48205
      View Details
    • $1,534,000
      2.31 Acres

      Detroit Land Portfolio: 14 Lots

      2.31 Acres, R-3 Zoning, High Potential
      11940 Conner St, Detroit, MI 48205
      View Details
    • $1,100,000
      27,500 SF

      Detroit Warehouse: $1.1M

      Industrial Warehouse, 27,500 SF, M-3 Zoning
      20550 Hoover St, Detroit, MI 48205
      View Details
    • $650,000
      2,860 SF

      Kelly Road QSR Opportunity

      Vacant 2,860 SF Restaurant, $650K
      18021 Kelly Rd, Detroit, MI 48205
      View Details

    Similar Nearby for Lease

    • $10 SF/Yr
      13,478 SF

      Retail Space on Hayes Street

      Sublease opportunity: 13,478 SF retail space with high visibility.
      12421 Hayes St, Detroit, MI 48205
      View Details
    • $100 SF/Yr
      4,983 SF

      Historic Detroit Building For Lease

      Historic 4,983 sq ft Detroit building available for lease.
      12719 Gratiot Ave, Detroit, MI 48205
      View Details
    • $20 SF/Yr
      929 SF

      Retail Space on Gratiot Avenue

      In-line retail space available for rent in Detroit, Michigan.
      15050-15100 Gratiot Ave, Detroit, MI 48205
      View Details
    • Contact for pricing

      Detroit Commercial Land Opportunity

      1 Acre Lot, Single Tenant Potential
      13715 Gratiot Ave, Detroit, MI 48205
      View Details
    • Contact for pricing
      2,420 SF

      Detroit Retail Space - 2420 SF

      Prime Detroit retail space, ample parking. Ideal for various uses.
      13641 7 Mile Rd, Detroit, MI 48205
      View Details
    • $1,100 /Mo

      Detroit Duplex Ready For Lease

      Two-bedroom, one-bathroom duplex units available for rent in Detroit.
      11804 Saint Patrick St, Detroit, MI 48205
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    15400 7th Mile Rd
    Detroit, MI 48205-2544
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.