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Realty Executives Showcase Commercial

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

$ 699,000

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13450 dix toledo Road Southgate, MI 48195

3,968 SqFt

UPDATED:

Key Details

Property Type Commercial

Sub Type Business And Real Estate

Listing Status Active

Purchase Type For Sale

Square Footage 3,968 sqft

Price per Sqft $176

MLS Listing ID 58050187515

Year Built 1952

Lot Size 0.280 Acres

Acres 0.28

Lot Dimensions 0.28

Property Sub-Type Business And Real Estate

Source MiRealSource

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

Zoning Commercial,Multi-Family

Interior

Hot Water Natural Gas

Heating Radiant, Central Air

Exterior

Utilities Available Smoke Alarm

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)

Additional Building Other

Structure Type Brick

Schools

School District Southgate

Others

Tax ID 53009030201000

Ownership Corporate/Relocation,Short Sale - No

Acceptable Financing Cash, Conventional, Other

Listing Terms Cash, Conventional, Other

Financing Cash,Conventional,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