Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1636 7th Mile Rd Detroit, MI 48203-2136

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1636 7th Mile Rd Detroit, MI 48203-2136

    View on Map
    • Strip malls
    • 5,739 SF
    • 0.20 lot acres
    Off-Market
    Property ID
    US43-1256980
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Strip malls

    Property Details for 1636 7th Mile Rd

    Year built
    1927
    Lot size
    0.20 lot acres
    Property size
    5,739 SF
    Zone code
    B4
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    09007500.
    APU
    9007500

    Description

    This exceptional commercial property located at 1636 E 7 Mile Road in Highland Park, Michigan, presents a compelling investment opportunity. The 5,739 square foot building sits on a 0.2-acre lot and is zoned for commercial use. Built in 1945 and renovated in 1945, the property features five individual storefronts, offering significant flexibility for a variety of businesses. One storefront is a fully equipped restaurant, ready for immediate operation, complete with all necessary service equipment. The remaining four storefronts provide ample space for diverse commercial ventures, catering to a wide range of business opportunities. The property's prime location in Highland Park, Michigan, within Wayne County, ensures high visibility and accessibility, making it an ideal investment for both established businesses and entrepreneurs. The single-story building is situated at 42.4325449 latitude and -83.086728 longitude, with a zip code of 48203. This property offers a unique blend of established infrastructure and significant potential for future growth, making it a truly remarkable investment opportunity. The price per square foot is $66.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Detroit
    County
    Wayne
    State
    Michigan
    Longitude
    -83.0868
    Latitude
    42.4325
    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
    $4,136
    $0.00
    $0.00
    $129,000
    -
    $0.00
    $0.00
    $258,000

    Comparable in this City

    • Value Estimation by Request
      3,230 SF

      16040 Woodward Ave

      SHOPPING CENTER, STRIP CENTER • 3,230 SF
      16040 Woodward Ave, Highland Park, MI 48203-2903
      View Details
    • Value Estimation
      $750,000
      11,541 SF

      13222 Woodward Ave

      SHOPPING CENTER, STRIP CENTER • 11,541 SF
      13222 Woodward Ave, Highland Park, MI 48203-3610
      View Details
    • Value Estimation
      $510,000
      6,987 SF

      1642 8th Mile Rd

      SHOPPING CENTER, STRIP CENTER • 6,987 SF
      1642 8th Mile Rd, Detroit, MI 48203-1259
      View Details
    • Value Estimation by Request
      7,310 SF

      12891 Woodward Ave

      SHOPPING CENTER, STRIP CENTER • 7,310 SF
      12891 Woodward Ave, Highland Park, MI 48203-3315
      View Details
    • Value Estimation
      $745,000
      23,000 SF

      16501 Woodward Ave

      SHOPPING CENTER, STRIP CENTER • 23,000 SF
      16501 Woodward Ave, Highland Park, MI 48203-2819
      View Details
    • Value Estimation
      $1,500,000
      29,040 SF

      14140 Woodward Ave

      SHOPPING CENTER, STRIP CENTER • 29,040 SF
      14140 Woodward Ave, Highland Park, MI 48203-2995
      View Details

    Similar Nearby for Sale

    • $800,000
      6,655 SF

      Commercial Plaza in Highland Park

      Well-maintained commercial plaza with high visibility and easy access.
      16600 Hamilton Ave, Highland Park, MI 48203
      View Details
    • $210,000
      2,846 SF

      Detroit Commercial Building on John R

      2,846 SF commercial building on a 12,197 SF lot.
      19969 John R St, Detroit, MI 48203
      View Details
    • Contact for pricing
      9,572 SF

      2411 Eight Mile Rd, Detroit, MI 48203

      Commercial land • 9,572 SF
      2411 Eight Mile Rd, Detroit, MI 48203
      View Details
    • $599,000
      2,400 SF

      Renovated Retail Building Near Detroit

      2,400 SF free-standing building, renovated in 2020, for sale.
      16445 Hamilton Ave, Highland Park, MI 48203
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space in Highland Park

      Retail space available in high-traffic Highland Park location.
      12029 Woodward Ave, Highland Park, MI 48203
      View Details
    • Contact for pricing
      2,587 SF

      Retail Space in Highland Park

      Retail space available for lease in Highland Park, MI.
      13253 Woodward Ave, Highland Park, MI 48203
      View Details
    • Contact for pricing

      Highland Park Commercial Space Available

      Commercial space available in Highland Park, Michigan.
      14000 Woodward Ave, Highland Park, MI 48203
      View Details
    • Contact for pricing

      Highland Park Retail Space Available

      4,420 SF retail space with 4,000 SF basement.
      14000 Woodward Ave, Highland Park, MI 48203
      View Details
    • Contact for pricing

      Retail Space For Lease

      Retail space available for lease.
      14004-14134 Woodward Ave, Highland Park, MI 48203
      View Details
    • Contact for pricing

      Liquor Store Available For Lease

      Liquor store with license in place, available for lease.
      11744 Woodward Ave, Highland Park, MI 48203
      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.
    1636 7th Mile Rd
    Detroit, MI 48203-2136
    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.
    Sign Up Successful!
    You now have access to more from Realmo!