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7500-7540 W McNichols Rd 21,568 SF 100% Leased Retail Building Detroit, MI 48221 $450,000 ($20.86/SF)



Investment Highlights
- Mixed Use Commercial. One unit is operating as a bar/restaurant by tenant. The rest needs to be restored.
Executive Summary
Incredible opportunity to own this expansive commercial property in the Bagley district. Built in 1934, with original limestone and terrazzo features on the exterior, options are plentiful for this building once restored. Offering 21,805 sqft of space, split amongst 6 different store fronts, perfect for local small business retailers. Located on revitalized and pedestrian friendly W. McNichols with bike lanes, extended side walks, and established businesses. Street parking and municipal parking lot across the street. Sitting across the street from First Merchants Bank, kitty corner to Metro Detroit Barber College and only a 10 minute walk to University of Detroit Mercy and Marygrove Conservancy and more.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
21,568 SF
Building Class
C
Year Built
1934
Price
$450,000
Price Per SF
$20.86
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.57
Lot Size
0.87 AC
Opportunity Zone
Yes
Zoning
C - Commercial
Parking
54 Spaces (2.85 Spaces per 1,000 SF Leased)
Amenities
- Bus Line
- Signalized Intersection
Moderately walkable
60/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 16-0082602 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $270,000 |
Property Taxes
Parcel Number
16-0082602
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$270,000
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7500-7540 W McNichols Rd
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