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19921439
19921440

15142 Joy Rd, Detroit, MI 48228

NR
MI MI 6501389142
RE/MAX Leading Edge
Listed by RE/MAX Leading Edge
$179,000
637 days on market
Updated 62 days ago

15142 JOY Road

Details
Property Type Industrial, Mixed Use (+2)
Sub Type Auto Shop, Traditional Office (+1)
Square Footage 2,062
Net Rentable (SqFt) 2,062
Cap Rate 13.97%
NOI $25,000
Occupancy 60%
Tenancy Multi
Lease Type Gross
Broker Co-Op Yes
Year Renovated 2022
Stories 2
Acreage 0.050
Zoning Commercial, Light Industrial, Office, Residential
Investment Type Net Lease

Prime Investment Opportunity on Joy Rd

Marketing description

Prime Investment Opportunity on Joy Rd: This commercial real estate package offers three parcels, including a separate upper efficiency apartment, all on a 60 x 100 lot in a highly sought-after area known for its thriving auto industry. Just minutes from Dearborn, the property boasts modern updates, including new electrical, plumbing, and roofing, along with two brand-new door bays. The apartment, with its separate entrance and utilities, enhances rental appeal. Currently generating $2,500 in monthly income from a successful detail shop and rented apartment, this property offers significant potential for expansion. With security fencing in place and ample parking for up to 18 cars, the additional vacant space is perfect for storage, warehousing, or further development. Seize this opportunity to invest in a versatile property with a solid income stream and room to grow.

Investment highlights

Prime Investment Opportunity on Joy Rd: This commercial real estate package offers three parcels, including a separate upper efficiency apartment, all on a 60 x 100 lot in a highly sought-after area known for its thriving auto industry. Just minutes from Dearborn, the property boasts modern updates, including new electrical, plumbing, and roofing, along with two brand-new door bays. The apartment, with its separate entrance and utilities, enhances rental appeal. Currently generating $2,500 in monthly income from a successful detail shop and rented apartment, this property offers significant potential for expansion. With security fencing in place and ample parking for up to 18 cars, the additional vacant space is perfect for storage, warehousing, or further development. Seize this opportunity to invest in a versatile property with a solid income stream and room to grow.

Listing Contacts

NR
MI MI 6501389142
RE/MAX Leading Edge
Listed by RE/MAX Leading Edge

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$25,000.00
$2,083.33/mo

Valuation Metrics

0
DSCR
13.97%
Cap Rate
13.97%
ROI

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Additional Information

Name
Nader Rammal
License
389142
Brokerage
RE/MAX Leading Edge
Brokerage Phone
313-777-2700
Title
Broker of Record
Brokerage Address
25050 Ford Rd Dearborn Heights MI 48127
Name
Nader Rammal
License
MI 6501389142
Brokerage
RE/MAX Leading Edge
Brokerage Address
25050 Ford Road
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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