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Danny Dedic

info@dedicatedrealtygroup.com +1(586) 855-6672

$ 1,600,000

Est. payment | -/mo

5,074 SqFt

Save

$ 1,600,000

Est. payment | -/mo

Save

5,074 SqFt

Key Details

Property Type Commercial

Sub Type BusinessandRealEstate

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

Property Sub-Type BusinessandRealEstate

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 Area03131Warren

Interior

Cooling Central Air, Window Units

Flooring Carpet, Vinyl

Fireplace No

Exterior

Parking Features Other

Utilities Available CableAvailable, ElectricityAvailable, UndergroundUtilities

View Y/N No

Roof Type Shingle

Building

Foundation Slab

Sewer Public Sewer, Sewer At Street

Water Public

New Construction No

Schools

School District Warren Con

Others

Acceptable Financing Cash, Other

Listing Terms Cash, Other

Special Listing Condition CorporateRelocation, ShortSaleNo

Listed by Tariq Herish of Brookstone, Realtors LLC

NEARBY SCHOOLS & PROPERTIES

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(586) 855-6672

info@dedicatedrealtygroup.com

32490 VAN DYKE AVE Warren, MI 48093

Danny Dedic

Key Details

Location

Interior

Exterior

Building

Schools

Others

NEARBY SCHOOLS & PROPERTIES

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32490 VAN DYKE AVE