About 32490 Van Dyke Ave
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.
Features of 32490 Van Dyke Ave
| MLS® # | 58050187507 |
|---|---|
| Price | $1,600,000 |
| Bathrooms | 0.00 |
| Acres | 0.63 |
| Year Built | 1950 |
| Type | Commercial |
| Status | Active |
Community Information
| Address | 32490 Van Dyke Ave |
|---|---|
| Area | 03131 - Warren |
| City | Warren city |
| County | Macomb |
| State | Michigan |
| Zip Code | 48093 |
Amenities
| Utilities | Cable Available, Electricity Available, Underground Utilities |
|---|---|
| Parking | Other |
| Is Waterfront | No |
| Has Pool | No |
Interior
| Cooling | Central Air, Window Unit(s) |
|---|---|
| Fireplace | No |
Exterior
| Construction | Brick |
|---|---|
| Foundation | Slab |
School Information
| District | Warren Con |
|---|
Additional Information
| Foreclosure | No |
|---|---|
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Office | Brookstone, Realtors LLC |
|---|---|
| Contact Info | terry@theherishgroup.com |