For Sale
13403 W 7 Mile Road, Detroit, MI 48235
$1,350,000
MLS # 20261006481 (Realcomp)
Built 19500.54 acres
1 / 42
Listing 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.
Source: SparkMLS
About this home
Asking $1,350,000.
Estimated annual property tax: $14,900, or about $1,242 monthly. Estimate is based on county assessor records and current millage rates; actual tax may vary with PRE status and recent assessment changes.
Fiber internet is available at this address with download speeds up to 1,200 Mbps across 8 providers. Electric service is provided by DTE Electric Company; natural gas by DTE Gas Company.
Listing Property Details
Property TypeCommercial Sale
Bathrooms0
Lot Size0.54 acres
Year Built1950
Location
CityDetroit
MunicipalityWayne City
Zip Code48235
CountyWayne
School DistrictDetroit
Construction & Systems
WaterPublic
Sale & Financing
Listed2/2/2026
Source: SparkMLS
Tax Information
Annual Tax$10,272
Tax Year2025
State Equalized Value$181,300
Assessed Value$181,300
Parcel #22015957-67
Source: Public Records
Property Records
FEMA Flood Zone: Zone X — Minimal flood risk
Source: FEMA NFHLUSDA Rural Development: Not Eligible
Verify eligibility at USDAListed by Nick Jaafar
Keller Williams Legacy
Frequently Asked Questions about 13403 W 7 Mile Road, Detroit, MI 48235
What school district is 13403 W 7 Mile Road, Detroit, MI 48235 in?
Per MLS# 20261006481, this property is served by Detroit. In Michigan, school district boundaries are set by the state and do not always follow city limits.
How much are property taxes for this home?
Per MLS# 20261006481, the most recent reported annual property tax for 13403 W 7 Mile Road, Detroit, MI 48235 is $7,903. Michigan property taxes are based on a property's taxable value multiplied by the local millage rate. Primary residences qualify for a homestead exemption that lowers the rate.
Is 13403 W 7 Mile Road, Detroit, MI 48235 eligible for USDA financing?
Per USDA Rural Development boundary data, 13403 W 7 Mile Road, Detroit, MI 48235 is not in an eligible area. USDA eligibility is based on property location — properties within designated urban zones are excluded. Other low-down-payment options (FHA, VA) may still be available.
What is the FEMA flood zone designation for this property?
Per FEMA's National Flood Hazard Layer, 13403 W 7 Mile Road, Detroit, MI 48235 is in flood zone X (minimal risk). Flood insurance is not typically required in this zone but may still be advisable. FEMA flood maps are updated periodically — verify the current designation at msc.fema.gov.
Is fiber internet available at 13403 W 7 Mile Road, Detroit, MI 48235?
Per FCC broadband data, this property has access to fiber internet service. The maximum advertised download speed is 1.2 Gbps. 8 internet providers serve this address. Confirm availability and speeds directly with providers.
Who are the utility providers for this property?
Per Michigan Public Service Commission service territory data: Electric: DTE Electric Company. Gas: DTE Gas Company. Water: Public. Confirm service details directly with providers.
How safe is this area?
Per our practice, crime and safety data should be obtained directly from the authoritative source. Wayne County law enforcement agencies participate in CLEMIS (Courts and Law Enforcement Management Information System) for public safety records.
Map
Tax Estimate
$
Annual tax$14,900
Monthly$1,242
Millage rate82.1844 mills
Municipality: Detroit
School district: DETROIT CITY SCHOOL DISTRICT
County: Wayne
Estimate based on SEV for a new buyer (taxable value resets to SEV on transfer). Actual taxes may vary. MI Treasury PT Estimator
Mortgage Calculator
$
%
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Monthly payment$9,998
Principal & interest$8,756
Property taxes$1,242
Estimate only. Does not include PMI or other fees. Consult a lender for exact rates.
Internet
FiberDownload
1.2 Gbps
Upload
1 Gbps
CableFiberGSO SatelliteLicensed Fixed WirelessSatelliteDSL
8 providers at this address
FCC Broadband Data Collection (Dec 2025). Max advertised speeds.
Utilities
DTE Electric Company
Investor-Owned
DTE Gas Company
Investor-Owned
MI Public Service Commission service territory boundaries.
Property
13403 W 7 Mile Road, Detroit, MI 48235
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Neighborhood
Bagley
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Community
Detroit
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County
Wayne County
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