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$750,000
Est. payment /mo
6,849 SqFt
New
19700 W 7 Mile Road Detroit, MI 48219
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Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 6,849 sqft
Price per Sqft $109
MLS Listing ID 20261075521
Year Built 1956
Annual Tax Amount $11,177
Lot Size 7,405 Sqft
Acres 0.17
Lot Dimensions 82X90
Source Realcomp
Property Description
Excellent opportunity to acquire a fully occupied, four-unit commercial plaza in Detroit. This established income-producing property generates $4800.00 per month in rental income, totaling $57,600.00 annually, providing immediate cash flow from day one. The property features four commercial units, with one established tenant occupying three of the four spaces. All units are currently leased under one-year agreements, and tenants maintain their respective spaces. Current rental rates offer potential for increases, presenting an opportunity for the next owner to enhance revenue and maximize long-term value. Tenants are reportedly aware that rental adjustments may be forthcoming and have expressed interest in remaining at the property and signing longer term leases. Securing extended lease terms is recommended to provide greater income stability and long-term occupancy.Whether you're an experienced investor looking to expand your commercial portfolio or seeking an established income-producing asset, this property offers immediate rental income, established tenancy, and future growth potential. Open to negotiations.
Location
State MI
County Wayne
Zoning Commercial
Direction West bound Seven Mile, West of Southfield freeway
Exterior
View Y/N No
Building
Foundation Slab
Water Public
Structure Type Brick
Schools
School District Detroit
Others
Tax ID W22I016940C3
Listed by Vanguard Realty Group
NEARBY SCHOOL & BUSINESS
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