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Tru Living Group LLC

eXp Realty LLC

infomi@trulivingroup.com +1(734) 746-5001

$ 699,000

Est. payment -/mo

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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

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