$699,000
Est. payment /mo
3,968 SqFt
Active
13450 dix toledo Road Southgate, MI 48195
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Key Details
Property Type Commercial
Sub Type Commercial/Industrial
Listing Status Active
Purchase Type For Sale
Square Footage 3,968 sqft
Price per Sqft $176
Subdivision Mi
MLS Listing ID 50187515
Year Built 1952
Lot Size 0.280 Acres
Acres 0.28
Lot Dimensions 0.28
Property Sub-Type Commercial/Industrial
Property Description
Introducing a lucrative investment opportunity at HOLLYWOOD MOTEL, located at 13450 Dix Toledo Rd. Southgate, Michigan 48195. This 15-unit extended-stay motel, along with a manager's apartment, presents a chance for a high cap rate of 20.97% and a gross income of $196,000. Renovated just last year with $32,000 in upgrades, this fully licensed property boasts modern amenities including WI-FI, cable TV, and free parking. Situated in a prime location with 120 feet of frontage on a heavily trafficked road, the motel benefits from approximately 35,000 vehicles passing by daily. With an average weekly rate of $300-$325 and a strong surrounding demographic with an average household income of $84,000 within a mile radius, this property offers a solid income stream. Don't miss this chance to own a well-positioned hospitality asset in the bustling Detroit market.
Location
State MI
County Wayne
Area Southgate (82146)
Zoning Multi-Family,Commercial
Interior
Heating Electric Heat
Cooling Central A/C, HVAC
Exterior
Parking Features 21+ Spaces
Roof Type Shingles
Building
Lot Description Utilities Underground
Foundation Slab
Water Public Water
Structure Type Brick
Others
Ownership LLC
SqFt Source Public Records
Financing Cash,Commercial Loan,Conventional
Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource.
Listed by Brookstone, Realtors LLC
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