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$ 199,900
Est. payment | /mo
9,614 SqFt
$ 199,900
Est. payment | /mo
9,614 SqFt
Key Details
Property Type Commercial
Sub Type Commercial/Industrial
Listing Status Active
Purchase Type For Sale
Square Footage 9,614 sqft
Price per Sqft $20
Subdivision Mi
MLS Listing ID 50152904
Year Built 1960
Lot Size 0.500 Acres
Acres 0.5
Lot Dimensions 180x150
Property Description
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
Location
State MI
County Genesee
Area Flint (25023)
Interior
Heating Forced Air
Exterior
Roof Type Asphalt
Building
Foundation Slab
Water Public Water
Structure Type Block
Others
Ownership Private
Energy Description Natural Gas
Financing Cash,Land Contract
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Listed by Lucia Properties
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "