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7122-7142 W 7 Mile Rd

8,671 SF Retail Building Detroit, MI 48221 £391,650 (£45/SF)

Investment Highlights

  • Great location along W 7 Mile Rd.
  • Right across from Sherwood Forest Public Library.

Executive Summary

Possibility for three retail units and four residential units. The perfect opportunities to combine commercial storefronts with residential units to meet the demand for housing and convenience. Community-Led Growth: Local organizations actively promote inclusive development and support small businesses.
Local and Regional Appeal: The area attracts both nearby residents and visitors from across the city seeking specialty shops, eateries, and experiences.
Streetscape Improvements: Recent multimillion-dollar investments in streetscapes have transformed the area with wider sidewalks, better lighting, landscaping, and pedestrian-friendly design. Incentives for Development: City-backed initiatives, such as the Strategic Neighborhood Fund, provide resources for business development and infrastructure enhancements. Diverse and Engaged Community: The neighborhood boasts a mix of long-time residents and newer transplants, fostering a welcoming environment for local businesses. Growing Residential Base: The surrounding neighborhoods, including University District, Bagley, and Sherwood Forest, are home to middle- and upper-middle-class families with disposable income. Proximity to Key Areas: Livernois and 7 Mile is situated near major residential neighborhoods, universities, and transportation routes making it easy for customers to visit. Retail and Dining: Room for more restaurants, cafés, and specialty retail shops to serve the growing community.

Data Room Click Here to Access

Taxes & Operating Expenses (Actual - 2024) Click Here to Access

Annual Annual Per SF
Taxes - -
Operating Expenses - -

Taxes & Operating Expenses (Actual - 2024) Click Here to Access

Taxes
Annual -
Annual Per SF -
Operating Expenses
Annual -
Annual Per SF -
Total Expenses
Annual $99,999
Annual Per SF $9.99

Property Facts

Sale Type
Owner User
Sale Condition
Development Sale
Property Type
Retail
Property Subtype
Storefront
Building Size
8,671 SF
Building Class
C
Year Built
1950
Price
£391,650
Price Per SF
£45
Tenancy
Multiple
Number of Floors
2
Building FAR
0.71
Lot Size
0.28 AC
Opportunity Zone
Yes
Zoning
B3 - Commercial Retail
Parking
12 Spaces (1.38 Spaces per 1,000 SF Leased)
Frontage
41 ft on 7 Mile Rd

Amenities

  • Bus Route
  • Corner Lot
Walk Score ®
Very Walkable (82)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

Nearby Major Retailers

Rent-A-Center
Boston Market
Bank of America
Fifth Third Bank

PROPERTY TAXES

PROPERTY TAXES

Parcel Numbers
Multiple
  • 16-008832
  • 16-008834
  • 16-008833
Land Assessment
£0
Improvements Assessment
£0
Total Assessment
£127,461
  • Listing ID: 33916673

  • Date on Market: 19/11/2024

  • Last Updated:

  • Address: 7122-7142 W 7 Mile Rd, Detroit, MI 48221

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