42
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$1,350,000
Est. payment /mo
6,200 SqFt
Active
13403 W 7 Mile Road Detroit, MI 48235
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Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 6,200 sqft
Price per Sqft $217
Municipality Wayne City
Subdivision Wayne City
MLS Listing ID 20261006481
Year Built 1950
Annual Tax Amount $7,903
Lot Size 0.540 Acres
Acres 0.54
Lot Dimensions 236X100
Source Realcomp
Property Description
Excellent investment or owner-user opportunity offering multiple income streams with upside. The property is anchored by Bank of America, which recently renewed its lease for another 60 months, with approximately 65 months remaining plus renewal options, and has occupied the location for over 10 years. The on-site ATM generates approximately $36,000 annually.The Pharmacy, a strong and thriving tenant in place for nearly 12 years, is secured under a 72-month lease plus options and produces approximately $60,000 in annual rent, with 6% escalations after the current term.The property also features a fully built-out ~4,000 SF clinic space that is currently vacant, creating an ideal opportunity for an owner-user looking to operate a clinic or for an investor to lease the space. This suite represents approximately $72,000 per year in potential income, bringing total projected income to $168,000 annually, while current in-place income totals $96,000 annually.
Location
State MI
County Wayne
Area Wayne County - 100
Zoning Commercial
Direction W Hartwell / E Snowden
Exterior
View Y/N No
Building
Foundation Slab
Water Public
Schools
School District Detroit
Others
Tax ID 2201595767
Listed by Keller Williams Legacy
NEARBY SCHOOL & BUSINESS
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