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Active
585 SOUTHFIELD Road Lincoln Park, MI 48146 2667
3,600 SqFt
UPDATED:
12/09/2024 11:57 PM
Key Details
Property Type Commercial
Sub Type Commercial/Industrial
Listing Status Active
Purchase Type For Sale
Square Footage 3,600 sqft
Price per Sqft $111
Subdivision Mi
MLS Listing ID 60357742
Annual Tax Amount $7,559
Lot Size 2,178 Sqft
Acres 0.05
Lot Dimensions 30x63x30x63
Property Description
Prime Investment Opportunity in Lincoln Park! This high-visibility mixed-use property on Southfield Rd offers a projected gross annual income of $51,000 with low annual expenses of $9,300. The commercial storefront is leased for $1,500/month with 5 years remaining on the lease, while the residential units include a move-in ready 2-bedroom (projected at $1,000/month), a 1-bedroom being prepped for re-rental (projected at $800/month), and a 2-bedroom rented month-to-month at $1,000/month. Additional features include separate utilities for each unit, shared basement storage, and a history of passing annual city inspections. With solid income potential and manageable expenses, this is an outstanding opportunity for investors. Schedule your showing today!
Location
State MI
County Wayne
Area Lincoln Park (82143)
Zoning Commercial
Building
Water Public Water
Structure Type Brick
Others
Ownership Private
Assessment Amount $1,478
Financing Cash,Conventional
Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource.
Listed by Own It Realty