13450 dix toledo Road new Save Request In-Person Tour Request Virtual Tour
Southgate,MI 48195
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
Property Sub-Type Business And Real Estate
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
Building
Foundation Slab
Sewer Sewer (Sewer-Sanitary),Sewer at Street
Water Public (Municipal)
Structure Type Brick
Schools
School District Southgate
Others
Acceptable Financing Cash,Conventional,Other
Listing Terms Cash,Conventional,Other
Special Listing Condition Full Service