MI > Lincoln Park > Suburban Park Sub
Lincoln Park, MI 48146,585 SOUTHFIELD Road
Lincoln Park, MI 48146,585 SOUTHFIELD Road
Lincoln Park, MI 48146,585 SOUTHFIELD Road
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Ryan French

Ryan French

+1(248) 506-0155
$399,900
Est. payment /mo
3,600 SqFt
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UPDATED:

12/02/2024 03:48 PM

Key Details

Property Type Commercial

Sub Type Real Estate Only

Listing Status Active

Purchase Type For Sale

Square Footage 3,600 sqft

Price per Sqft $111

Subdivision Suburban Park Sub

MLS Listing ID 20240089506

Originating Board Realcomp II Ltd

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 Lincoln Park

Zoning Commercial

Direction South of Fort, West of Outer Drive

Exterior

Road Frontage Paved

Building

Sewer Public Sewer (Sewer-Sanitary)

Water Public (Municipal)

Structure Type Brick

Schools

School District Lincoln Park

Others

Tax ID 45008030028001

Ownership Short Sale - No,Private Owned

Assessment Amount $1,478

Acceptable Financing Cash, Conventional, Warranty Deed

Listing Terms Cash, Conventional, Warranty Deed

Financing Cash,Conventional,Warranty Deed

Special Listing Condition Full Service

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Realcomp MLS
©2024 Realcomp II Ltd. Shareholders
Listed by Yasir Abulaban of Own It Realty

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Ryan French

+1(248) 506-0155

Agent | License ID: 6501387571

Agent License ID: 6501387571

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585 SOUTHFIELD Road