21710 29 Mile Road, Ray, MI 48096 (MLS # 50157924)
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Welcome to this fantastic investment opportunity in a prime location! This 2-story 3 unit building features two spacious apartments upstairs, each 938 sqft with 2 bedrooms and 1 bath. The lower level is 1876 sqft currently being used as living quarters but can be reverted back to business use as store, retail, office and more, offering endless possibilities for additional income streams. Each unit provides a private entrance. Located in an area with high traffic counts and high visibility. This property is perfect for entrepreneurs looking to establish a business in a prime community. The apartments provide a steady rental income, making this property a lucrative investment for any savvy investor. CAP RATE 8% or more (current rent is well below area average). Land contract available. Huge lot would allow plenty of space for expansion. Will consider all reasonable offers!
| DAYS ON MARKET | 73 | LAST UPDATED | 10/10/2024 |
|---|---|---|---|
| TRACT | None | YEAR BUILT | 1942 |
| COMMUNITY | Ray Twp (50005) | COUNTY | Macomb |
| STATUS | Active | PROPERTY TYPE(S) | Commercial |
| ADDITIONAL DETAILS | |
| AIR | Central A/C, HVAC |
|---|---|
| AIR CONDITIONING | Yes |
| AREA | Ray Twp (50005) |
| BASEMENT | Slab |
| CONSTRUCTION | Concrete/Block |
| EXTERIOR | Frontage: 144 |
| HEAT | Forced Air |
| INTERIOR | 110 Volt Power, 220 Volt Power, Bath, Cable Internet Installed, Concrete Floor, Private Restrooms, Telephone, Tile Floors |
| LOT | 0.65 acre(s) |
| LOT DIMENSIONS | 144 X 187 X 27 X 223 |
| PARKING | 6-10 Spaces |
| SEWER | Septic |
| SUBDIVISION | None |
| WATER | Private Well |
| ZONING | Commercial |
TOTAL MONTHLY PAYMENT
| SATELLITE VIEW |
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Source MLS: MiRealSource
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