13
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$750,000
Est. payment /mo
4,000 SqFt
New
19700 W 7 Mile RD Detroit, MI 48219
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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. 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.
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
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 SCHOOL & BUSINESS
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