19700 7 Mile Road, Detroit, Michigan 48219

$750,000

Property Details

  • MLS#: 20261075521
  • Bedrooms: N/A
  • Bathrooms: N/A
  • Square Feet: 4,000
  • Lot Size: N/A
  • Year Built: 1956
  • Property Type: CommercialSale
  • Transaction: Transaction type unavailable
  • Listing Status: Active

Tax and Assessment Information

Assessment evidence unavailable.

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

This property is located in Detroit, Michigan. Detroit is part of the Metro Detroit area, offering convenient access to employment, schools, shopping, and recreation.

Frequently Asked Questions

What is the price of 19700 7 Mile Road?

19700 7 Mile Road is listed at $750,000.

How many bedrooms does 19700 7 Mile Road have?

This property has N/A bedrooms and 0 bathrooms, with 4,000 square feet of living space.

Ask about this property

Contact Sonic Realty to verify current availability or ask about this listing. A showing is only arranged after the listing team confirms it.

Phone: (313) 484-4696

Email: [email protected]