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Active
585 SOUTHFIELD Road Lincoln Park, MI 48146
3,600 SqFt
UPDATED:
12/02/2024 04:50 PM
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 3,600 sqft
Price per Sqft $111
Municipality Lincoln Park City
Subdivision Lincoln Park City
MLS Listing ID 20240089506
Originating Board Realcomp
Year Built 1926
Annual Tax Amount $7,559
Lot Size 2,178 Sqft
Acres 0.05
Lot Dimensions 30x63x30x63
Property Description
Prime Investment Opportunity in Lincoln Park! This high-visibility mixed-use property on Southfield Rd offers a projected gross annual income of $51,000 with low annual expenses of $9,300. The commercial storefront is leased for $1,500/month with 5 years remaining on the lease, while the residential units include a move-in ready 2-bedroom (projected at $1,000/month), a 1-bedroom being prepped for re-rental (projected at $800/month), and a 2-bedroom rented month-to-month at $1,000/month. Additional features include separate utilities for each unit, shared basement storage, and a history of passing annual city inspections. With solid income potential and manageable expenses, this is an outstanding opportunity for investors. Schedule your showing today!
Location
State MI
County Wayne
Area Wayne County - 100
Zoning Commercial
Direction South of Fort, West of Outer Drive
Exterior
View Y/N No
Building
Sewer Public
Water Public
Structure Type Brick
Schools
School District Lincoln Park
Others
Tax ID 45008030028001
Listed by Own It Realty