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USAMIWarren32490 Van Dyke Ave
50187507-5a64e490-1289-4670-b376-8a0c6b802d16.JPG | Image 1
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$1,600,000

32490 Van Dyke Ave, Warren, MI

Real Estate

For Sale

$--,---,---
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  • Key Facts
  • Description
  • Map

Key Facts

Type Businessand Real Estate
Levels Commercial Sale
Size -
Garage No
Maintenance Fees 
Taxes 
Days Active 0
Approx. Age 1950
MLS® Number 58050187507

Property Address: 

Average square foot calculated using Size range provided by listing agent.

Description

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.Show Description
MLS® Number58050187507
Locker
Ensuite LaundryNo
Balcony
Furnished
Laundry Level
Exposure
Exterior
GarageNo
Approx. Age1950
Stories
Pets
Corp Number

Included in Maintenance Fee

Heat
Hydro
Water
Building Insurance
Condo Taxes
Cable TV
Central Air
Parking Maintenance

Utilities

Heat
A/CCentral Air, Window Units
Heating Fuel

Extras

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