13450 dix toledo Road, Southgate, MI 48195
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Alec Applebaum

Alec Applebaum

+1(248) 866-8784
$699,000
Est. payment /mo
3,968 SqFt
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UPDATED:

Key Details

Property Type Commercial

Sub Type Industrial

Listing Status Active

Purchase Type For Sale

Square Footage 3,968 sqft

Price per Sqft $176

Municipality Southgate

Subdivision Southgate

MLS Listing ID 50187515

Year Built 1952

Lot Size 0.280 Acres

Acres 0.28

Property Sub-Type Industrial

Source MiRealSource

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 Wayne County - 100

Zoning Multi-Family,Commercial

Interior

Cooling Central Air

Exterior

View Y/N No

Building

Sewer Public

Structure Type Brick

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Listed by Brookstone, Realtors LLC

Nearby School & Business

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Alec Applebaum

Alec Applebaum

+1(248) 866-8784

Broker | License ID: 6502389085

Broker License ID: 6502389085

Name

Name

Phone*

Phone

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