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Property profile & analytics
OFF-MARKET Estimated value $240,000
Retail space

20534 7th Mile Rd Detroit, MI 48219-2582

3,166 SF 0.1 ac lot Built 1948
Entity Owned 9-yr Hold Free & Clear
Property ID
US43-1686103
Property summary
AI-generated overview

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 profile
Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1948
Total area 3,166 SF
Lot 0.1 ac (4,356 SF)
Zoning code B4
APN 22016907-8
UPID US43-1686103
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$240k
Owner & transaction history
City Of Detroit Planning & Dev De · 9 yrs held
City Of Detroit Planning & Dev De
since 2017
6 recorded transactions
2017
Price N/A
2016
Price N/A
2015
Price N/A
2012
$2,000
2012
Price N/A
2004
Price N/A
Zoning & alternative use
B4 · Detroit, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description

), eff. 5-28-2005) Sec. 50-7-3. - Business Districts. Business districts within the City are as follows: (1) B1 Restricted Business District. (2) B2 Local Business and Residential District. (3) B3 Shopping District. (4) B4 General Business District. (5) B5 Major Business District. (6) B6 General Services District. (Code 1984, § 61-7-3; Ord. No. 11-05, § 1(61…

Zone name General Business District
General category COMMERCIAL
Zone area 3,533.46 ac
Source code of ordinances
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