16,600 SqFt
16,600 SqFt
Key Details
Property Type Commercial
Sub Type RealEstateOnly
Listing Status Active
Purchase Type For Sale
Square Footage 16,600 sqft
Price per Sqft $177
Subdivision Maple View
MLS Listing ID 20261056990
Year Built 1967
Lot Size 1.240 Acres
Acres 1.24
Property Sub-Type RealEstateOnly
Property Description
The property currently features 47 individual rental units, providing diversified income and flexibility for investors. The building is currently 97 % leased, generating approximately $19,787 in monthly gross revenue, and $237,400 in annual gross income. Annual operating expenses are approximately $84,777 resulting in an estimated net annual income of $152,623.
The multi-tenant configuration offers a variety of suite sizes, making the property well suited for a long-term investor or an owner-user seeking to occupy a portion of the building while continuing to generate rental income from the remaining units. Features include a central lobby, common hallways and restrooms, convenient building access, prominent signage opportunities and ample surface parking.
Strategically located near Birmingham, Somerset Collection, Oakland/Troy Airport and major transportation routes. Excellent opportunity to acquire a well-positioned commercial asset with existing income, value-add potential and long-term appreciation opportunities. Financial information is subject to verification. Buyer and buyer's agent to verify all information.
Location
State MI
County Oakland
Area Area02203Troy
Interior
Fireplace No
Exterior
View Y/N No
Roof Type Asphalt
Garage false
Building
Foundation Basement, Block
Sewer Public Sewer
Water Public
New Construction No
Schools
School District Troy
Others
Senior Community false
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition RealEstateOwned, ShortSaleNo
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