Share This Listing

Message

957 characters remaining

Hmm, there seems to have been an error sending your message. Please try again.

Your email has been sent.

7122-7142 W 7 Mile Rd
Detroit, MI 48221
Retail Property For Sale

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.

Property Facts

Sale Type
Owner User
Sale Condition
Redevelopment Project
Property Type
Retail
Property Subtype
Storefront
Building Size
8,671 SF
Building Class
C
Year Built
1950
Price
$617,760 CAD
Price Per SF
$71.24 CAD
Tenancy
Multiple
Building Height
2 Stories
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’ on 7 Mile Rd

Amenities

  • Bus Line
  • Corner Lot

Property Taxes

Property Taxes

Parcel Numbers
Multiple
  • 16-008832
  • 16-008834
  • 16-008833
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$251,857 CAD
  • Listing ID: 33916673

  • Date on Market: 2024-11-19

  • Last Updated:

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

Link copied
Your LoopNet account has been created!

Please Share Your Feedback

We welcome any feedback on how we can improve LoopNet to better serve your needs.
X
{{ getErrorText(feedbackForm.starRating, "rating") }}
255 character limit ({{ remainingChars() }} charactercharacters remainingover)
{{ getErrorText(feedbackForm.msg, "rating") }}
{{ getErrorText(feedbackForm.fname, "first name") }}
{{ getErrorText(feedbackForm.lname, "last name") }}
{{ getErrorText(feedbackForm.phone, "phone number") }}
{{ getErrorText(feedbackForm.phonex, "phone extension") }}
{{ getErrorText(feedbackForm.email, "email address") }}