REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.

In-PersonVirtual Tour

Fri

Sep

Sat

Sep

Sun

Sep

Realty Executives Showcase Commercial

showcasecommercial@realtyexecutives.com +1(586) 726-4600

$ 1,600,000

Est. payment -/mo

Save

New

32490 VAN DYKE Avenue Warren, MI 48093

5,074 SqFt

UPDATED:

Key Details

Property Type Commercial

Sub Type Business And Real Estate

Listing Status Active

Purchase Type For Sale

Square Footage 5,074 sqft

Price per Sqft $315

MLS Listing ID 58050187507

Year Built 1950

Lot Size 0.630 Acres

Acres 0.63

Lot Dimensions .63

Property Sub-Type Business And Real Estate

Source MiRealSource

Property Description

Discover a lucrative investment opportunity at the King Richard Motel! This charming 19-unit extended stay motel, along with one apartment, is strategically located on Van Dyke Ave with 229 feet of frontage, ensuring high visibility to over 52,000 passing vehicles daily. Renovated in 2024 at a cost exceeding $100,000, this property boasts modern amenities and a refreshed look. The conversion to an extended stay concept has significantly enhanced revenue prospects, with a gross income of $300,960 and a net income of $243,056, offering an exceptional cap rate of 14.3%. Convenient land contract terms are available for this C-1 zoned property, offering 0.63 acres of potential in a bustling commercial area surrounded by established national retail brands. With ample parking, room for expansion, and a prime location near major retailers, the King Richard Motel presents a remarkable investment opportunity for aspiring hospitality entrepreneurs or seasoned investors.

Location

State MI

County Macomb

Area Warren

Zoning Commercial,Multi-Family

Interior

Hot Water Natural Gas

Heating Central Air

Exterior

Roof Type Shingle

Accessibility Accessible Entrance, Disabled Access

Road Frontage Class B

Building

Foundation Slab

Sewer Sewer (Sewer-Sanitary), Sewer at Street

Water Public (Municipal)

Level or Stories 11+ Story

Additional Building Other

Structure Type Brick

Schools

School District Warren Con

Others

Tax ID 121303106004

Ownership Corporate/Relocation,Short Sale - No

Acceptable Financing Cash, Other

Listing Terms Cash, Other

Financing Cash,Other

Special Listing Condition Full Service

Listed by Tariq Herish of Brookstone, Realtors LLC

GET MORE INFORMATION

Realty Executives Showcase Commercial

+1(586) 726-4600

showcasecommercial@realtyexecutives.com