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Ryan Maceri

mhgrealtors@gmail.com +1(586) 519-6259

$ 699,000

Est. payment | -/mo

3,968 SqFt

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$ 699,000

Est. payment | -/mo

Save

3,968 SqFt

Key Details

Property Type Commercial

Sub Type BusinessandRealEstate

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

Property Sub-Type BusinessandRealEstate

Listing Terms Cash, Conventional, Other

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 Area05146Southgate

County Wayne

Interior

Heating Radiant

Cooling Central Air, Other

Flooring Carpet, CeramicTile

Fireplace No

Exterior

Parking Features Other

Utilities Available CableAvailable, ElectricityAvailable, NaturalGasAvailable, UndergroundUtilities

View Y/N No

Roof Type Shingle

WaterfrontY/N No

Building

Lot Description Sprinklers

Foundation Slab

Sewer Public Sewer, Sewer At Street

Water Public

New Construction No

New Construction Y/N No

Schools

School District Southgate

Others

Acceptable Financing Cash, Conventional, Other

Listing Terms Cash, Conventional, Other

Special Listing Condition CorporateRelocation, ShortSaleNo

Listed by Tariq Herish of Brookstone, Realtors LLC

NEARBY SCHOOL & BUSINESS

Ryan Maceri

Agent

+1(586) 519-6259 | mhgrealtors@gmail.com

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13450 dix toledo RD Southgate, MI 48195

Ryan Maceri

Key Details

Location

Interior

Exterior

Building

Schools

Others

NEARBY SCHOOL & BUSINESS

GET MORE INFORMATION

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13450 dix toledo RD