Great Potential Investment Opportunity! Completely Remodeled in 2021, needs some TLC now. Owner lost all tenants and is HIGHLY motivated to sell. They purchased it for $410,000 in 2021 and now want to move it fast for less than 1/2! 2 story 18 Unit Commercial Business No Tenants. Annual gross rents when full used to be $130,800, with a NOI of $95,534 with a cap rate of 24%!!! Ample parking in front and rear of building. Within 1 mile to I75 expressway, new apartment complex next door (fully occupied), U of M University 1 mile away, and McLaren hospital down the street! Seller HIGHLY MOTIVATED. If your a good manager, this could be an excellent investment! Most of the tenants want back in! SOLD AS IS
Listing Details
Price
$199,900
Year Built
1960
Property Type
Commercial
Listing #
50152904
Status
BACK ON MARKET
County
Genesee
Listing Type
For Sale
Interior Features
Square Feet
9,614
Heating and Cooling
Forced Air
Exterior Features
Exterior
Block
Foundation
Slab
Roof
Asphalt
Lot Size
0.50 acres
Miscellaneous
MLS Area
Flint (25023)
Courtesy of Layne Lucia (License #122980), Lucia Properties810-234-1000
Copyright 2024 EAST CENTRAL ASSOCIATION OF REALTORS®. All Rights Reserved. Information is supplied by seller and other third parties and has not been verified. IDX information is provided exclusively for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Member Number: 28173
This content last updated on 11/27/2024 12:57 AM. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.
Housing Occupancy
Rural vs. Urban
Market occupancy and urban/rural information from Home Junction Inc.
Copyright 2024 EAST CENTRAL ASSOCIATION OF REALTORS®. All Rights Reserved. Information is supplied by seller and other third parties and has not been verified. IDX information is provided exclusively for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.