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Description

Great Investment Opportunity with High Cash Flow! Completely Remodeled 2 story 5 Unit Commercial Business Building 100% Leased with long term tenants. Annual gross rents of $57,600, with a NOI of $30,000 with a cap rate of 11%!!! Turn key operation. New Roof (2018), New AC/Furnace, Ample parking (24) in the rear of building in additional to the street parking. Street Signage on Gratiot . Within 2 mile to I696 and I96 expressway. Serach "23750 GRATIOT AVE" in Youtube for virtual showings.

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© 2021 Realcomp II Ltd. Shareholders. Real estate listings held by brokerages other than Robert E Smith Realty | Hall and Hunter are marked with the Realcomp-approved IDX logo and are provided through IDX through Realcomp II Ltd. IDX information is provided exclusively for the consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Any use of search facilities of data on the site, other than by a consumer looking to purchase real estate, is prohibited. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. Data last updated: 2021-09-19T23:56:04.13.
www.robertesmithrealty.com/homes/116788168
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23750 Gratiot Avenue Eastpointe, MI 48021

  • Price: $275,000
  • Status: Active
  • Updated: 40 min ago
  • ID#: 2210031957
0
Beds
0
Baths
0
½ Baths
0.34
Acres
4,896
SQFT
$56
$/SQFT
1969
Built
Neighborhood:
Assessors Stephen's State
County:
Macomb
Area:
Eastpointe
School District:
EAST DETROIT
Property Description
Great Investment Opportunity with High Cash Flow! Completely Remodeled 2 story 5 Unit Commercial Business Building 100% Leased with long term tenants. Annual gross rents of $57,600, with a NOI of $30,000 with a cap rate of 11%!!! Turn key operation. New Roof (2018), New AC/Furnace, Ample parking (24) in the rear of building in additional to the street parking. Street Signage on Gratiot . Within 2 mile to I696 and I96 expressway. Serach "23750 GRATIOT AVE" in Youtube for virtual showings.
Exterior Features

Architecture Level 2 Story Construction Materials Brick Foundation Details Slab Foundation Materials Poured Lot Size Dimensions 100.00X150.00 Road Frontage Feet 200 Road Frontage Type Paved Roof Material Asphalt Waterfront YN No

Interior Features

Commercial Utilities 220V AvailableCable TvSecurity AlarmSmoke Alarm Heating Cooling Forced Air Heating Fuel Natural Gas Office Heating Cooling Central Air Room Count 0 Sq Ft Main 4896 Sq Ft Office 4896 Water Heater Fuel Natural Gas

Property Features

Apod Available YN Yes Assessment 0 Commercial Type Commercial Current Use Salon Deposit Amount 150000.00 Encroachment YN No Exclusions YN No Gross Scheduled Income 57600.00 Inventory Included YN Yes Inventory List YN Yes Land Contract YN Yes Land Interest Rate 6 Land Payment 5000 Land Terms 25 Legal Rental Certified YN Yes Listing Financing CashConventionalLand Contract Monthly Sales 4800 Net Operating Income 30300.00 Operating Expense 27300.00 Ownership Status Private OwnedShort Sale - No Percent Leased 100 Possession At Close Postal City Eastpointe Protection Period 60 Restrictions YN No Settlement City Sewer Sewer At Street Short Sale No Tax Amount Summer 10146.0000 Tax Amount Winter 331.0000 Title Private - Owned Total Tax 10477.0000 Unparsed Address 23750 GRATIOT AVE Water Source Municipal Water Year Remodeled 2020 Zoning Commercial

IDX provided courtesy of Realcomp II Ltd., via Autocity Realty Llc and Realcomp, ©2021 Realcomp II Ltd. Shareholders.


© 2021 Realcomp II Ltd. Shareholders. Real estate listings held by brokerages other than Robert E Smith Realty | Hall and Hunter are marked with the Realcomp-approved IDX logo and are provided through IDX through Realcomp II Ltd. IDX information is provided exclusively for the consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Any use of search facilities of data on the site, other than by a consumer looking to purchase real estate, is prohibited. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. Data last updated: 2021-09-19T23:56:04.13.
 
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Robert E Smith Realty | Hall and Hunter
442 S. Old Woodward
Birmingham MI, 48009