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$ 750,000
Est. payment | /mo
4,000 SqFt
$ 750,000
Est. payment | /mo
4,000 SqFt
Key Details
Property Type Commercial
Sub Type RealEstateOnly
Listing Status Active
Purchase Type For Sale
Square Footage 4,000 sqft
Price per Sqft $187
Subdivision Evergreen Park
MLS Listing ID 20261075521
Year Built 1956
Lot Size 7,405 Sqft
Acres 0.17
Property Sub-Type RealEstateOnly
Property Description
Excellent opportunity to acquire a fully occupied, four-unit commercial plaza in Detroit. Offering approximately 6,849 square feet, this established investment property generates 4800.00 per month in rental income, totaling 57,600.00 annually. The property consists of four commercial addresses: 19700, 19704, 19710, and 19714 W. Seven Mile Road. One established tenant occupies three of the four units, with all spaces currently leased under one-year agreements. The building underwent extensive updates in 2016, including new appliances and updated electrical and plumbing systems. A new roof was completed in 2018, adding to the property's appeal. Current rental rates offer an opportunity for increased revenue. Tenants are reportedly aware of potential rental adjustments and have expressed interest in remaining at the property. Longer-term lease agreements are recommended to provide additional income stability.
An opportunity for investors seeking an established commercial asset with immediate rental income and potential for future growth.
An opportunity for investors seeking an established commercial asset with immediate rental income and potential for future growth.
Location
State MI
County Wayne
Area Area05032Det6To8Grnfldtolimits
Interior
Fireplace No
Exterior
View Y/N No
Garage false
Building
Foundation Slab
Sewer Public Sewer
Water Public
New Construction No
Schools
School District Detroit
Others
Senior Community false
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition ShortSaleNo, Standard
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Listed by Zachary Brown of Vanguard Realty Group
Nearby Locations
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