18243 Wyoming St, Detroit, MI 48221
797 SF | Retail Building | Online Auction Sale | Detroit, MI 48221
For Sale
Active
- Property Type
-
Retail
- Square Feet
- 797 SF
Listing Contacts
Arturo Crosby
Emily Walper
Property Overview
18243 Wyoming Avenue presents the market with an excellent opportunity to acquire a key retail asset along the popular commercial corridor of Wyoming Avenue and Seven Mile Road. The building, which was formerly occupied by a hair salon, is currently vacant, positioning itself perfectly for a new owner/user or investor looking for broad lease-up value-add upside. The building possesses 797 square feet of space in a column-free floorplan that offers immense flexibility to accommodate new build-outs.
18243 Wyoming Avenue is in a prime location to capitalize on excellent frontage, strong demographics in the surrounding suburban community, and access to downtown Detroit. With frontage along Wyoming Avenue, the property has an immense signage opportunity to reach roughly 7,000 vehicles per day, allowing a new tenant to capitalize on built-in traffic demand. Additionally, 7 Mile Road, the cross intersection of this commercial corridor, sees 14,000 vehicles per day, increasing potential client reach. Demographics in this area are robust, offering a dense suburban population with ample spending power. Within a 5-mile radius of the property, there is a sizeable population of 431,000 people. This group earned, on average, $60,000 per household per year and spent over $3.5 billion in 2023 alone. Wyoming Avenue is a connected location just 10 minutes from Detroit Golf Club, the home of the PGA Tours popular Midwest event, the Rocket Mortgage Classic, and just 15 minutes from the center of Downtown Detroit via the nearby Highway 10.
Detroit's retail market has continuously experienced steady tenant demand, which has kept availability compressed and is favoring retail investors in the market. The availability rate has decreased to near-record lows for the past decade at just 6.6%. Demand has been consistent across several market segments, including off-price, fitness, discount, and the food and beverage segments. These positive trends have seen tenant demand grow by 1.2 million square feet over the past twelve months, with most of the positive move-ins coming to the general retail market, bolstering these properties' standing and value in the market.
Property tours are available by appointment only. Please contact the broker to schedule.
18243 Wyoming Avenue is in a prime location to capitalize on excellent frontage, strong demographics in the surrounding suburban community, and access to downtown Detroit. With frontage along Wyoming Avenue, the property has an immense signage opportunity to reach roughly 7,000 vehicles per day, allowing a new tenant to capitalize on built-in traffic demand. Additionally, 7 Mile Road, the cross intersection of this commercial corridor, sees 14,000 vehicles per day, increasing potential client reach. Demographics in this area are robust, offering a dense suburban population with ample spending power. Within a 5-mile radius of the property, there is a sizeable population of 431,000 people. This group earned, on average, $60,000 per household per year and spent over $3.5 billion in 2023 alone. Wyoming Avenue is a connected location just 10 minutes from Detroit Golf Club, the home of the PGA Tours popular Midwest event, the Rocket Mortgage Classic, and just 15 minutes from the center of Downtown Detroit via the nearby Highway 10.
Detroit's retail market has continuously experienced steady tenant demand, which has kept availability compressed and is favoring retail investors in the market. The availability rate has decreased to near-record lows for the past decade at just 6.6%. Demand has been consistent across several market segments, including off-price, fitness, discount, and the food and beverage segments. These positive trends have seen tenant demand grow by 1.2 million square feet over the past twelve months, with most of the positive move-ins coming to the general retail market, bolstering these properties' standing and value in the market.
Property tours are available by appointment only. Please contact the broker to schedule.
Property Details
- Class
- C
- Year Built
- 1949
- Stories
- 1
- Property Subtype
- Storefront
- Lot Size (sq. ft)
- 3,049 SF
Highlights
- 18423 Wyoming Street presents the market with the opportunity to acquire a vacant retail asset in Detroit via an absolute auction.
- Located along the key commercial corridor of Wyoming Avenue that offers a large confluence of local stores and restaurants.
- Rare opportunity to acquire a flexible vacant retail asset with excellent frontage centrally located in a dense suburban core of Detroit.
- Offered to the market via an absolute auction, the first bid will meet the reserve.
- Highly connected location with easy access to all downtown Detroit has to offer via a 15-minute drive utilizing Highway 10.
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