Listed by The Herish Group
$3,700,000
Cranbrook Motel
Details
Property Type Hospitality
Sub Type Motel
Square Footage 34,065
Cap Rate 8.82%
NOI $326,195
Price per SqFt $109
Broker Co-Op Yes
Year Built 1957
Acreage 1.400
Zoning B-4
Parking Spaces 81 spaces
Parking Per SqFt 2.38
Investment Type Stabilized
Ownership Private
Hospitality | 8.82% CAP
Marketing description
Unprecedented opportunity to acquire an Independently operated, cash-flowing Motel (101 Rooms) situated on PRIME Real Estate located in Detroit, Michigan. This property is an ideal acquisition for an owner-operator / or Redevelopment play.
$406M Redevelopment adjacent to property.
Investment highlights
●Public Safety Partnership: Strategic affiliation with Project
Green Light (PGL), enhancing property security through real-
time, high-definition video surveillance connected directly to
the Detroit Police Department (DPD).
●Rare Use permitted in a B4 Zoning (Business District)
●Generational Real Estate with Frontage and Exposure to
Incredibly High Traffic Counts.
Listing Contacts
Listed by The Herish Group
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$326,195.00
$27,182.92/mo
Valuation Metrics
0
DSCR
8.82%
Cap Rate
8.82%
ROI
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