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About the Listing 70811 - 27312
Discover a lucrative investment opportunity at the King Richard Motel! This charming 19-unit extended stay motel, along with one apartment, is strategically located on Van Dyke Ave with 229 feet of frontage, ensuring high visibility to over 52,000 passing vehicles daily. Renovated in 2024 at a cost exceeding $100,000, this property boasts modern amenities and a refreshed look. The conversion to an extended stay concept has significantly enhanced revenue prospects, with a gross income of $300,960 and a net income of $243,056, offering an exceptional cap rate of 14.3%. Convenient land contract terms are available for this C-1 zoned property, offering 0.63 acres of potential in a bustling commercial area surrounded by established national retail brands. With ample parking, room for expansion, and a prime location near major retailers, the King Richard Motel presents a remarkable investment opportunity for aspiring hospitality entrepreneurs or seasoned investors.
Listing Highlights for 32490 Van Dyke
Status
Active
Days on Site
9
Property Type
Commercial Sale
MLS ®
50187507
Year Built
1950
Total Square Footage
5,074
Lot/Acreage
0.63
County
Macomb
Area
Warren (50023)
Interior Details
- Bedrooms: 0
- Bathrooms: Full
- Appliances:
- Air Cond: Central A/C,Window Unit(s)
- Heating:
- Fireplaces:
- Floor:
- Above Ground Sq Ft: 5074
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water: Public Water
Exterior Details
- Lot Description: Utilities Underground
- Garage Capacity: N/A
- Lot Dimensions: .63
- Zoning: Multi-Family,Commercial
- Roof: Shingles
- Others: Security Lighting,Wheelchair Access
- Sewer: Public At Street
- Parking Features: 21+ Spaces
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: N/A
- Tax Year: N/A
Payment Calculator
Monthly Payment
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- in Taxes
Years
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Listing Location
Questions About..
32490 Van Dyke Warren, MI 48093
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