Retail•Street Retail•For Sale

Seven Mile Lauder Center

14806 W 7 Mile Road, Detroit, Michigan 48235

Sale Price $757,000
Bldg Type Multi-Tenant
Year Built 2003
Cap Rate 8.50%
Vacancy 62%
Gross Bldg 10,000 SqFt
Land Area .95 Acres
Net Op Inc $64,349.34
. Detroit is the most populous city in the U.S. state of Michigan, the largest city on the United States–Canada border, and the seat of Wayne County. The municipality of Detroit had a 2016 estimated population of 672,795, making it the 23rd-most populous city in the United States. The metropolitan area, known as Metro Detroit, is home to 4.3 million people, making it the second-largest in the Midwest after Chicago. Detroit is a major port on the Detroit River, one of the four major straits that connect the Great Lakes system to the Saint Lawrence Seaway. The Detroit Metropolitan Airport is among the most important hubs in the United States. The City of Detroit anchors the third-largest economic region in the Midwest, behind Chicago and Minneapolis-St. Paul, and the 14th-largest in the United States. Detroit and its neighboring Canadian city Windsor are connected through a tunnel and the Ambassador Bridge, the busiest international crossing in North America. Detroit is best known as the center of the U.S. automobile industry, and the "Big Three" auto manufacturers General Motors, Ford, and Chrysler are all headquartered in Metro Detroit. In recent years the downtown area has seen tremendous growth and redevelopment. Since 2000 a number of major construction projects have been completed including the new Compuware Headquarters at Campus Martius Park and two new stadiums: Comerica Park and Ford Field. General Motors moved their headquarters into the Renaissance Center, and the Detroit Lions have relocated from Pontiac to Downtown Detroit. High-profile events like the 2005 MLB All-Star Game, Super Bowl XL, and the 2006 and 2012 World Series have taken place in downtown, generating income for local businesses and spurring more growth. As a result, new residents are moving into Detroit in the assortment of new lofts that are opening. An example of these trends is the Westin Book-Cadillac Hotel. In 2006, the Cleveland-based Ferchill Group began the $180 million redevelopment of the historic Book Cadlliac Hotel at the corner of Washington Blvd. and Michigan Avenue. The project, which has been hailed by preservationists houses a 455-room Westin Hotel, 67 high-end condominiums, and two to three restaurants, and some miscellaneous retail serving hotel and conference center guests. DTE Energy Headquarters features an urban oasis of parks, walkways, and a reflecting pool.
  • Highly Visible Site | Strong Frontage
  • Multiple Points of Ingress and Egress
  • Located on 7 Mile Road Which See's 28,000 + Vehicles Per Day
  • Most Tenants have Operated at the Site for Over 5 Years, Showing Strong Commitment to the Site
  • Population Within a 5 Mile Radius is in Excess over 350,000
  • Average Household Income Within 5 Mile is in Excess of $55,000
  • Surrounded by National Retailers Such as: AutoZone, Wendy's, Metro by T-Mobile, CVS, Burger King, Chase Bank and Many More
3/10/2020 6:59:27 PM 3/23/2020 4:31:24 PM
Ayson Shammami
Associate Advisor
Encore Real Estate Investment Services
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